Va. Code § 6.2-1941: (Effective July 1, 2026) Reports of certain events

A. A licensee shall file a report with the Commission within one business day after the licensee has reason to know of the occurrence of any of the following events:1. The filing of a petition by or against the licensee under the United States Bankruptcy Code (11 U.S.C. § 101 et seq.) for bankruptcy or reorganization;2. The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;3. The commencement of a proceeding to revoke or suspend its license or other authority to operate in another jurisdiction; or4. Such other events as the Commission may prescribe by regulation.B. A licensee shall file a report with the Commission within three business days after the licensee has reason to know of the occurrence of any of the following events:1. An indictment, charge, or conviction of the licensee or of a key individual or person in control of the licensee for a felony;2. An indictment, charge, or conviction of an authorized delegate for a felony; or3. Such other events as the Commission may prescribe by regulation.2025, c. 214.