§ 6.1-363.12. (Repealed effective October 1, 2010) Other reportingrequirements.
A. Within 15 days following the occurrence of any of the following events, alicensee shall file a written report with the Commission describing suchevent and its expected impact upon the business of the licensee:
1. The filing of bankruptcy, reorganization, or receivership proceedings byor against the licensee;
2. The institution of administrative or regulatory proceedings against thelicensee by any governmental authority;
3. Any felony indictments of the licensee or any of its members, partners,directors, officers, trustees, beneficiaries, or principals, if known;
4. Any felony conviction of the licensee or any of its members, partners,directors, officers, trustees, beneficiaries, or principals, if known;
5. The institution of an action against the licensee under the VirginiaConsumer Protection Act (§ 59.1-196 et seq.) by the Attorney General or anyother governmental authority; or
6. Such other event as the Commission may prescribe by regulation.
B. Within 30 days of judgment against the licensee in a civil action relatingto the DMP of a consumer who is a resident of the Commonwealth, a licenseeshall file a written report with the Commission describing such event and itsexpected impact upon the business of the licensee. The licensee shall advisethe Commission within 30 days of any settlement or the result of any judgmententered.
C. Within 10 days of receipt of any qualified audit, a licensee shall notifythe Commission and describe what steps are being taken to address concernsraised in the audit.
D. Failure to file a report or other information or documents required underthis section shall subject the licensee to a fine of $25 for each day thereport is overdue.
§ 6.1-363.12. (Repealed effective October 1, 2010) Other reportingrequirements.
A. Within 15 days following the occurrence of any of the following events, alicensee shall file a written report with the Commission describing suchevent and its expected impact upon the business of the licensee:
1. The filing of bankruptcy, reorganization, or receivership proceedings byor against the licensee;
2. The institution of administrative or regulatory proceedings against thelicensee by any governmental authority;
3. Any felony indictments of the licensee or any of its members, partners,directors, officers, trustees, beneficiaries, or principals, if known;
4. Any felony conviction of the licensee or any of its members, partners,directors, officers, trustees, beneficiaries, or principals, if known;
5. The institution of an action against the licensee under the VirginiaConsumer Protection Act (§ 59.1-196 et seq.) by the Attorney General or anyother governmental authority; or
6. Such other event as the Commission may prescribe by regulation.
B. Within 30 days of judgment against the licensee in a civil action relatingto the DMP of a consumer who is a resident of the Commonwealth, a licenseeshall file a written report with the Commission describing such event and itsexpected impact upon the business of the licensee. The licensee shall advisethe Commission within 30 days of any settlement or the result of any judgmententered.
C. Within 10 days of receipt of any qualified audit, a licensee shall notifythe Commission and describe what steps are being taken to address concernsraised in the audit.
D. Failure to file a report or other information or documents required underthis section shall subject the licensee to a fine of $25 for each day thereport is overdue.
§ 6.1-363.12. (Repealed effective October 1, 2010) Other reportingrequirements.
A. Within 15 days following the occurrence of any of the following events, alicensee shall file a written report with the Commission describing suchevent and its expected impact upon the business of the licensee:
1. The filing of bankruptcy, reorganization, or receivership proceedings byor against the licensee;
2. The institution of administrative or regulatory proceedings against thelicensee by any governmental authority;
3. Any felony indictments of the licensee or any of its members, partners,directors, officers, trustees, beneficiaries, or principals, if known;
4. Any felony conviction of the licensee or any of its members, partners,directors, officers, trustees, beneficiaries, or principals, if known;
5. The institution of an action against the licensee under the VirginiaConsumer Protection Act (§ 59.1-196 et seq.) by the Attorney General or anyother governmental authority; or
6. Such other event as the Commission may prescribe by regulation.
B. Within 30 days of judgment against the licensee in a civil action relatingto the DMP of a consumer who is a resident of the Commonwealth, a licenseeshall file a written report with the Commission describing such event and itsexpected impact upon the business of the licensee. The licensee shall advisethe Commission within 30 days of any settlement or the result of any judgmententered.
C. Within 10 days of receipt of any qualified audit, a licensee shall notifythe Commission and describe what steps are being taken to address concernsraised in the audit.
D. Failure to file a report or other information or documents required underthis section shall subject the licensee to a fine of $25 for each day thereport is overdue.
