§ 6.1-430.1. (Repealed effective October 1, 2010) Prohibited practices;authority of the Attorney General.
A. Notwithstanding whether a person is licensed, is required to be licensed,or is exempt from licensure under this chapter, and notwithstanding any otherprovision of the law to the contrary, no person who is engaged in thebusiness of originating residential mortgage loans in the Commonwealth shalluse any deception, fraud, false pretense, false promise, or misrepresentationin connection with a mortgage loan transaction.
B. Whenever the Attorney General has reasonable cause to believe that anyperson has engaged in, or is engaging in, or is about to engage in, anyviolation of this section, the Attorney General is empowered to issue a civilinvestigative demand. The provisions of § 59.1-9.10 shall apply mutatismutandis to civil investigative demands issued pursuant to this section.
C. The Attorney General may cause an action to be brought in the appropriatecircuit court in the name of the Commonwealth to enjoin any violation of thissection. The circuit court having jurisdiction may enjoin such violationsnotwithstanding the existence of an adequate remedy at law. In any actionunder this section, it shall not be necessary that damages or intent beproved to establish a violation. The standard or proof at trial shall bepreponderance of the evidence. The circuit courts are authorized to issuetemporary or permanent injunctions to restrain and prevent violations of thissection.
D. In any action brought under this section, if the court finds that a personhas willfully engaged in a violation of this section, the Attorney Generalmay recover, upon petition to the court, a civil penalty of not more than$2,500 per violation.
E. In any action brought under this section, the Attorney General may recoverdamages and such other relief allowed by law, including restitution on behalfof borrowers injured by violations of this section as well as costs andreasonable expenses incurred by the Commonwealth in investigation andpreparing the case, including attorney fees.
F. Unless the Attorney General determines that a person subject to theprovisions of this section intends to depart from the Commonwealth or toremove his property herefrom, or to conceal himself or his property herein,or on a reasonable determination that irreparable harm may occur if immediateaction is not taken, the Attorney General shall, before initiating any legalproceedings as provided in this section, give notice in writing that suchproceedings are contemplated, and allow such person a reasonable opportunityto appear before the Attorney General and show that a violation did not occuror execute an assurance of voluntary compliance or consent judgment.
G. Nothing in this section shall create a private right of action in favor ofany individual aggrieved by a violation of this section.
§ 6.1-430.1. (Repealed effective October 1, 2010) Prohibited practices;authority of the Attorney General.
A. Notwithstanding whether a person is licensed, is required to be licensed,or is exempt from licensure under this chapter, and notwithstanding any otherprovision of the law to the contrary, no person who is engaged in thebusiness of originating residential mortgage loans in the Commonwealth shalluse any deception, fraud, false pretense, false promise, or misrepresentationin connection with a mortgage loan transaction.
B. Whenever the Attorney General has reasonable cause to believe that anyperson has engaged in, or is engaging in, or is about to engage in, anyviolation of this section, the Attorney General is empowered to issue a civilinvestigative demand. The provisions of § 59.1-9.10 shall apply mutatismutandis to civil investigative demands issued pursuant to this section.
C. The Attorney General may cause an action to be brought in the appropriatecircuit court in the name of the Commonwealth to enjoin any violation of thissection. The circuit court having jurisdiction may enjoin such violationsnotwithstanding the existence of an adequate remedy at law. In any actionunder this section, it shall not be necessary that damages or intent beproved to establish a violation. The standard or proof at trial shall bepreponderance of the evidence. The circuit courts are authorized to issuetemporary or permanent injunctions to restrain and prevent violations of thissection.
D. In any action brought under this section, if the court finds that a personhas willfully engaged in a violation of this section, the Attorney Generalmay recover, upon petition to the court, a civil penalty of not more than$2,500 per violation.
E. In any action brought under this section, the Attorney General may recoverdamages and such other relief allowed by law, including restitution on behalfof borrowers injured by violations of this section as well as costs andreasonable expenses incurred by the Commonwealth in investigation andpreparing the case, including attorney fees.
F. Unless the Attorney General determines that a person subject to theprovisions of this section intends to depart from the Commonwealth or toremove his property herefrom, or to conceal himself or his property herein,or on a reasonable determination that irreparable harm may occur if immediateaction is not taken, the Attorney General shall, before initiating any legalproceedings as provided in this section, give notice in writing that suchproceedings are contemplated, and allow such person a reasonable opportunityto appear before the Attorney General and show that a violation did not occuror execute an assurance of voluntary compliance or consent judgment.
G. Nothing in this section shall create a private right of action in favor ofany individual aggrieved by a violation of this section.
§ 6.1-430.1. (Repealed effective October 1, 2010) Prohibited practices;authority of the Attorney General.
A. Notwithstanding whether a person is licensed, is required to be licensed,or is exempt from licensure under this chapter, and notwithstanding any otherprovision of the law to the contrary, no person who is engaged in thebusiness of originating residential mortgage loans in the Commonwealth shalluse any deception, fraud, false pretense, false promise, or misrepresentationin connection with a mortgage loan transaction.
B. Whenever the Attorney General has reasonable cause to believe that anyperson has engaged in, or is engaging in, or is about to engage in, anyviolation of this section, the Attorney General is empowered to issue a civilinvestigative demand. The provisions of § 59.1-9.10 shall apply mutatismutandis to civil investigative demands issued pursuant to this section.
C. The Attorney General may cause an action to be brought in the appropriatecircuit court in the name of the Commonwealth to enjoin any violation of thissection. The circuit court having jurisdiction may enjoin such violationsnotwithstanding the existence of an adequate remedy at law. In any actionunder this section, it shall not be necessary that damages or intent beproved to establish a violation. The standard or proof at trial shall bepreponderance of the evidence. The circuit courts are authorized to issuetemporary or permanent injunctions to restrain and prevent violations of thissection.
D. In any action brought under this section, if the court finds that a personhas willfully engaged in a violation of this section, the Attorney Generalmay recover, upon petition to the court, a civil penalty of not more than$2,500 per violation.
E. In any action brought under this section, the Attorney General may recoverdamages and such other relief allowed by law, including restitution on behalfof borrowers injured by violations of this section as well as costs andreasonable expenses incurred by the Commonwealth in investigation andpreparing the case, including attorney fees.
F. Unless the Attorney General determines that a person subject to theprovisions of this section intends to depart from the Commonwealth or toremove his property herefrom, or to conceal himself or his property herein,or on a reasonable determination that irreparable harm may occur if immediateaction is not taken, the Attorney General shall, before initiating any legalproceedings as provided in this section, give notice in writing that suchproceedings are contemplated, and allow such person a reasonable opportunityto appear before the Attorney General and show that a violation did not occuror execute an assurance of voluntary compliance or consent judgment.
G. Nothing in this section shall create a private right of action in favor ofany individual aggrieved by a violation of this section.
