# Va. Code Ann. § 6.2-2204: Bond required

> Virginia · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2204

## Section

- **Citation:** Va. Code Ann. § 6.2-2204
- **Heading:** Bond required
- **Jurisdiction:** Virginia
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Virginia Code / Title 6.2 / Subtitle III / Chapter 22 / Section 6.2-2204

## Text

The application for a license shall also be accompanied by a bond filed with the Commissioner with corporate surety authorized to execute such bond in the Commonwealth, in the sum of $50,000 per location, or such greater sum as the Commission may require, but not to exceed a total of $500,000. The form of such bond shall be approved by the Commission. Such bond shall be continuously maintained thereafter in full force. Such bond shall be conditioned upon the applicant or licensee performing all written agreements with borrowers or prospective borrowers, correctly and accurately accounting for all funds received by him in his licensed business, and conducting his licensed business in conformity with this chapter and all applicable laws. Any person who may be damaged by noncompliance of the licensee with any condition of such bond may proceed on such bond against the principal or surety thereon, or both, to recover damages. The aggregate liability under the bond shall not exceed the penal sum of the bond.

2010, c. 477 , § 6.1-484; 2020, cc. 1215 , 1258 .

## Nearby sections

- [Va. Code Ann. § 6.2-2200 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2200.md)
- [Va. Code Ann. § 6.2-2201 License required](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2201.md)
- [Va. Code Ann. § 6.2-2202 Scope of chapter](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2202.md)
- [Va. Code Ann. § 6.2-2203 Application for license; form; content; fee](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2203.md)
- [Va. Code Ann. § 6.2-2204 Bond required](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2204.md)
- [Va. Code Ann. § 6.2-2205 Investigation of applications](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2205.md)
- [Va. Code Ann. § 6.2-2206 Qualifications](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2206.md)
- [Va. Code Ann. § 6.2-2207 Licenses; places of business; changes](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2207.md)
- [Va. Code Ann. § 6.2-2208 Acquisition of control; application](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2208.md)
- [Va. Code Ann. § 6.2-2209 Retention of books, accounts, and records](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2209.md)
- [Va. Code Ann. § 6.2-2210 Annual report](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2210.md)
- [Va. Code Ann. § 6.2-2211 Other reporting requirements](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2211.md)
- [Va. Code Ann. § 6.2-2212 Investigations; examinations](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2212.md)
- [Va. Code Ann. § 6.2-2213 Annual fees](https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2213.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_VA_T6.2_SIII_C22_S6.2-2204. Check the current official text before relying on it. Not legal advice.