Section 115. Database inquiry fee

Latest version.

Pursuant to subdivision B 4 of § 6.2-1810 of the Code of Virginia, a licensed payday lender shall pay a database inquiry fee to the database provider in connection with every payday loan consummated by the licensee. The amount of the database inquiry fee shall not exceed $5.00 per loan, which shall be remitted by each licensee directly to the database provider on a weekly basis.

Historical Notes

Derived from Volume 25, Issue 04, eff. January 1, 2009; amended, Virginia Register Volume 28, Issue 20, eff. June 1, 2012.

Statutory Authority

§§ 6.2-1815 and 12.1-13 of the Code of Virginia.

                    
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