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2006 SESSION

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HB 195 Industrial loan companies; certain provisions for those out-of-state.

Introduced by: Terry G. Kilgore | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Industrial loan companies.  Prohibits a foreign industrial loan company from establishing or maintaining an office in Virginia on the premises or property of the company's affiliate if the affiliate engages in retail commercial activities. The measure also prohibits a Virginia-chartered industrial loan association from having an affiliate that engages in retail commercial activities; however, the prohibition does not apply to an industrial loan association with an affiliate engaged in commercial activities as of January 1, 2006.


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