Monday, October 13, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB915: Credit Counseling Act; removes two factors that SCC is required to use when setting fees.
Be it enacted by the General Assembly of Virginia:
1. That § 6.1-363.14 of the Code of Virginia is amended and reenacted as follows:
§ 6.1-363.14. Annual fees.
A. In order to defray the costs of their examination,
supervision, and regulation, every licensee under this chapter shall pay an
annual fee calculated in accordance with a schedule set by the Commission. The
schedule shall bear a reasonable relationship to the total assets held
in trust by the licensee for Virginia consumers,
the total number of DMPs maintained by the licensee licensees in Virginia, total revenues of the
licensee from Virginia consumers, the actual cost costs of their examinations, and to other factors relating to
their supervision and regulation. All such fees shall be assessed on or before
June 1 for every calendar year. All such fees shall be paid by the licensee to
the State Treasurer on or before July 1 following each assessment.
B. In addition to the annual fee prescribed in subsection A, when it becomes necessary to examine or investigate the books and records of a licensee under this chapter at a location outside the Commonwealth, the licensee shall be liable for and shall pay to the Commission within 30 days of the presentation of an itemized statement, the actual travel and reasonable living expenses incurred on account of its examination, supervision, and regulation, or shall pay at a reasonable per diem rate approved by the Commission.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.