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Can I skip verifying consumer requests in Virginia? What are the requirements?

Verifying Consumer Requests in Virginia

In Virginia, it is not possible to skip verifying consumer requests [1.1]([1.1]). Licensees must comply with the requirements set forth by the bureau, including maintaining books, accounts, and records as required by the bureau and responding to requests from the bureau in a timely and accurate manner [1.1]([1.1]).

Licensees must also comply with additional business requirements and restrictions, such as providing a signed and dated receipt for each cash payment made in person and complying with all federal laws and regulations applicable to the conduct of its business [1.2]([1.2]).

Requirements for Responding to Requests from the Bureau

When the bureau requests a written response, books, records, documentation, or other information from a licensee in connection with the bureau’s investigation, enforcement, or examination of compliance with applicable laws, the licensee shall deliver a written response as well as any requested books, records, documentation, or information within the time period specified in the bureau’s request [1.1]([1.1]). If no time period is specified, a written response as well as any requested books, records, documentation, or information shall be delivered by the licensee to the bureau not later than 30 days from the date of such request [1.1]([1.1]).

Licensees must also pay annual fees to defray the costs of examination, supervision, and regulation of licensees by the bureau [1.4]([1.4]).

In summary, it is not possible to skip verifying consumer requests in Virginia, and licensees must comply with the requirements set forth by the bureau, including maintaining books, accounts, and records and responding to requests from the bureau in a timely and accurate manner.

Source(s):
Jurisdiction

Virginia