10VAC5-60-25: Access partners

A. A licensee shall not enter into or maintain a contract with another person that requires or authorizes the person to facilitate the making or servicing of a loan by providing some or all of the services described in § 6.2-1523.1 A 4 of the Code of Virginia unless (i) the person is an access partner, as defined in § 6.2-1500 of the Code of Virginia; and (ii) pursuant to such definition, the person will be providing the services from one or more physical locations in the Commonwealth. A licensee may enter into or maintain a contract with another person that is not an access partner but will perform one or more of the services described in § 6.2-1523.1 A 4 provided that (a) the services rendered by the person do not facilitate the making or servicing of a loan, and (b) the person does not receive any fees or other compensation directly from consumers.

B. A licensee's access partner shall comply with the requirements and prohibitions set forth in § 6.2-1523.1 A 2 of the Code of Virginia regardless of whether such provisions are specified in the access partner's written agreement with the licensee.

C. A licensee shall provide the commissioner with the following information in such form as the commissioner may require:

1. A list of the licensee's current access partners.

2. The physical addresses of all locations at which each access partner is performing services for the licensee.

3. A description of the services that each access partner is performing for the licensee.

4. The name, address, telephone number, and email address of an employee of the access partner who will be the point of contact for the bureau.

5. Such additional information relating to the licensee's access partners as the commissioner may require.

D. Unless otherwise directed by the commissioner, the information required by subsection C of this section shall be provided by February 15, May 15, August 15, and November 15 of each year.