Virginia Administrative Code
Title 10 - FINANCE AND FINANCIAL INSTITUTIONS
Agency 5 - STATE CORPORATION COMMISSION
Chapter 110 - CREDIT COUNSELING
Section 10VAC5-110-60 - Enforcement

Universal Citation: 0 VA Admin Code 5-110-60

Current through Register Vol. 41, No. 3, September 23, 2024

A. Failure to comply with any provision of Chapter 20 or this chapter may result in civil penalties, license revocation, the entry of a cease and desist order, or other appropriate enforcement action.

B. Pursuant to § 6.2-2021 of the Code of Virginia, a person shall be subject to a civil penalty of up to $1,000 for every violation of Chapter 20, which includes any violation of this chapter. Furthermore, if a person violates any provision of Chapter 20 or this chapter in connection with multiple debt management plans, the person shall be subject to a separate civil penalty for each debt management plan. For example, if a person provides five debt management plans and the person violates two provisions of this chapter in connection with each of the five debt management plans, there would be a total of 10 violations and the person would be subject to a maximum civil penalty of $10,000.

Statutory Authority: §§ 6.2-2013 and 12.1-13 of the Code of Virginia.

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