{"data":{"id":"us-va/18vac130-30-140","jurisdiction":"us-va","citation":"18VAC130-30-140","heading":"Change of business entity requires a new license","body":"A. Licenses are issued to firms as defined in this chapter and are not transferable. Whenever the legal business entity holding the license is dissolved or altered to form a new business entity, the license becomes void. The firm must make written notification to the board within 30 days of the change. Such changes include:\n\n1. Cessation of the business or the voluntary termination of a sole proprietorship or general partnership;\n\n2. Death of a sole proprietor;\n\n3. Formation, reformation, or dissolution of a general partnership, limited partnership, corporation, limited liability company, association, or any other business entity recognized under the laws of the Commonwealth; or\n\n4. The suspension or termination of the corporation's existence by the State Corporation Commission.\n\nB. When a new firm is formed, the new firm must obtain a new license before engaging in any activity regulated by Chapter 20.2 (§ 54.1-2020 et seq.) of Title 54.1 of the Code of Virginia or the regulations of the board.","path":["Title 18. Professional And Occupational Licensing","Agency 130. Real Estate Appraiser Board","Chapter 30. Appraisal Management Company Regulations","Part V. Standards of Conduct and Practice"],"source_url":"https://law.lis.virginia.gov/admincode/title18/agency130/chapter30/section140/","current_through":"2026 Regular Session (effective July 1, 2026)","vintage":"","retrieved_at":"2026-09-14T04:53:10Z","sha256":"c632720cd6f7cfa951e0f2c71b9b30633fec14c0e57aebbd3c9d337a38094be8","source_id":"us-va-vac","stale":false,"prev":"us-va/18vac130-30-130","next":"us-va/18vac130-30-150"},"notice":"GroundRules: Original legal text. Not legal advice."}