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Virginia Code Title 6.2. Financial Institutions and Services § 6.2-1938. Report of condition

Current as of January 01, 2025 | Updated by Findlaw Staff

<Section becomes effective July 1, 2026>

A. Each licensee shall submit to the Commission a report of condition within 45 days after the end of every calendar quarter, or within any extended time as the Commission may prescribe.

B. The report of condition shall include:

1. Financial information at the licensee level;

2. Nationwide and state-specific money transmission transaction information for every jurisdiction in the United States where the licensee is licensed to engage in money transmission;

3. A permissible investments report;

4. Transaction destination country reporting for money received for transmission, if applicable;  and

5. Any other information the Commission reasonably requires with respect to the licensee.  The Commission is authorized and encouraged to allow or require licensees to utilize NMLS for the submission of the report required by this section.

C. The information required by subdivision B 4 shall only be included in a report of condition submitted within 45 days after the end of the fourth calendar quarter.

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Cite this article: FindLaw.com - Virginia Code Title 6.2. Financial Institutions and Services § 6.2-1938. Report of condition - last updated January 01, 2025 | https://codes.findlaw.com/va/title-6-2-financial-institutions-and-services/va-code-sect-6-2-1938/

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