Section 85. Advertising

A. A licensee shall disclose the following information in its advertisements in a conspicuous manner:

1. The name of the payday lender as set forth in the license issued by the commission.

2. A statement that the payday lender is "licensed by the Virginia State Corporation Commission."

3. The license number assigned by the commission to the payday lender (i.e., PL-XXX).

B. A licensee shall not deliver or cause to be delivered to a consumer any envelope or other written material that gives the false impression that the mailing or written material is an official communication from a governmental entity, unless required by the United States Postal Service.

C. Every advertisement used by, or published on behalf of, a licensee shall comply with the disclosure requirements for advertisements contained in Regulation Z (12 CFR Part 1026).

D. For purposes of this section, the term "conspicuous" shall have the meaning set forth in subdivision 20 of § 6.2-1816 of the Code of Virginia.

E. Every licensee shall retain for at least three years after it is last published, delivered, transmitted, or made available, an example of every advertisement used, including but not limited to solicitation letters, print media proofs, commercial scripts, and recordings of all radio and television broadcasts, but excluding copies of Internet web pages.

§§ 6.2-1815 and 12.1-13 of the Code of Volume 30, Issue 17, eff. May 1, 2014.