SEARCH SITE

Search FAQs

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2015 SESSION

  • | print version

HB 2191 Payday loan offices and motor vehicle title loan offices; distance from casino facility.

Introduced by: Patrick A. Hope | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Payday loan offices and motor vehicle title loan offices; distance from casino facility or military installation. Prohibits the State Corporation Commission (SCC) from issuing a license for the operation of a payday lending office or motor vehicle title lending office if such office is within 10 miles of a casino facility or military installation. Casino facilities include Indian gaming operations conducted pursuant to the federal Indian Gaming Regulatory Act. The measure includes limitations on the SCC's authority to revoke or suspend an existing license when a violation of the 10-mile provision exists on July 1, 2015, or when a violation would be created by the opening of a casino facility or military installation after a license was issued. However, if such a licensed lending location is within 10 miles of an existing or future casino facility or military installation, the annual percentage rate that may be charged on loans made from such location is 36 percent.


FULL TEXT

HISTORY