6.2-1902 - (Effective October 1, 2010) Scope and construction of chapter.
§ 6.2-1902. (Effective October 1, 2010) Scope and construction of chapter.
A. The provisions of this chapter shall not apply to:
1. The United States, or any department, instrumentality or agency thereof;
2. The Commonwealth, or any political subdivision thereof;
3. Any bank, trust company, savings institution, or credit union operatingunder the laws of the United States or any state or territory thereof, orother person to the extent the person provides money transmission services asan agent of one or more banks, trust companies, savings institutions, orcredit unions operating under the laws of the United States or any state orterritory thereof; or
4. Any private security services business, licensed under § 9.1-139, thattransports or offers to transport money.
B. This chapter shall be construed by the Commission for the purpose ofprotecting, against financial loss, residents of the Commonwealth who (i)purchase money orders or (ii) give money or control of their funds or creditinto the custody of another person for transmission, regardless of whetherthe money order seller or money transmitter has any office, facility,authorized delegate, or other physical presence in the Commonwealth.
(1974, c. 578, § 6.1-371; 1983, c. 156; 1987, c. 283; 1990, c. 259; 1994, c.889; 2001, c. 372; 2005, c. 314; 2009, c. 346; 2010, c. 794.)