Code 1950, §§ 6-279, 6-281; 1956, c
Elizabeth. The newest provisions of area should affect any person, perhaps the person features a workplace otherwise performs team during the a place throughout the Commonwealth.
No licensee should fool around with a company, corporate, otherwise thought label that features any of the terms and conditions “deals,” “faith,” “trustee,” “financial,” “banker,” “banking,” “financial support,” “thrift,” “building,” otherwise “industrial
F. One mortgage manufactured in pass associated with area try void, with no individual should have the straight to assemble, receive, otherwise hold people principal, interest, costs, or other charge about the the loan.
71; 1966, c. 584, §§ six.1-249, six.1-251; 1968, c. 489; 1974, c. 371; 1986, c. 502; 1995, c. 2; 1998, c. 9; 2001, c. 308; 2002, c. 897; 2010, cc. 477, 794; 2020, cc. 1215, 1258.
An effective. No one working according to the authority of every rules from the fresh Commonwealth otherwise of Us according to financial institutions, discounts associations, trust enterprises, building and you will financing relationships, commercial mortgage relationships, or borrowing from the bank unions are going to be eligible for licensure not as much as it part.
A beneficial licensee which is a part otherwise affiliate off a lender or coupons establishment is going to be influenced from the arrangements with the section, and all laws and regulations accompanied hereunder, since totally because if such as for instance licensee just weren’t such a subsidiary otherwise affiliate.
step 1. Any company transacted by the individuals beneath the authority from and you will just like the permitted by the any law of one’s Commonwealth otherwise of your own All of us in accordance with banks, deals organizations, trust companies, strengthening and financing associations, industrial loan connections, otherwise credit unions;