Regulatory Alert
A Convenient Guide to Regulatory
Activity in the Commonwealth
August, 2010
The Regulatory
Alert is intended to assist General Assembly members as they keep
up with the myriad regulations being proposed by agencies in the
Commonwealth. The goal of this project is to provide a timely, simple,
and accurate summary of the rules that are being proposed by agencies,
boards, and commissions. Highlighting regulations when they are
published as "proposed regulations" gives General Assembly
members notice that the critical public participation phase of the
rulemaking process is well underway. It is during the public participation
process that the questions of an Assembly member or constituent
may be most effectively communicated to the agency and examined
by the individuals crafting the regulatory proposal.
The Regulatory
Alert is not intended to be a substitute for the comprehensive information
on agency rulemaking activity that is currently published biweekly
in the Virginia Register of Regulations or the notification
services offered by the Regulatory Town Hall website maintained
by the Department of Planning and Budget. It is hoped that the Legislative
Record will assist all members as they monitor the development,
modification and repeal of administrative rules in the Commonwealth.
Access the
Virginia Register of Regulations online at or contact epalen@dls.virginia.gov
or the Code Commission staff at (804) 786-3591 for further information.
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TITLE 2.
AGRICULTURE
BOARD
OF AGRICULTURE AND CONSUMER SERVICES
2VAC5-540.
Rules and Regulations Pertaining to Carbonated and Still Water Bottling
Plants and Beverages (repealing 2VAC5-540-10 through 2VAC5-540-70).
A public
hearing will be held on September 30, 2010, at 2 p.m. at the Department
of Agriculture and Consumer Services, Richmond, Virginia. Written public
comments may be submitted until October 15, 2010.
Summary:
This
regulation provides basic requirements for carbonated and still water
bottling plants. The repeal of this regulation is requested because
the essential elements of the regulation have already been incorporated
into the Virginia Food Laws, Chapter 51 (§ 3.2-5100 et seq.) of
Title 3.2 of the Code of Virginia.
For
more information, please contact Ryan Davis, Program Manager, Office of
Dairy and Foods, Department of Agriculture and Consumer Services, Richmond,
VA, telephone (804) 786-8910, FAX (804) 371-7792, TTY (800) 828-1120,
or email ryan.davis@vdacs.virginia.gov.
TITLE
10. FINANCE AND FINANCIAL INSTITUTIONS
STATE
CORPORATION COMMISSION
| REGISTRAR'S
NOTICE: The State Corporation Commission is exempt from the
Administrative Process Act in accordance with § 2.2-4002 A
2 of the Code of Virginia, which exempts courts, any agency of the
Supreme Court, and any agency that by the Constitution is expressly
granted any of the powers of a court of record.
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10VAC5-210.
Motor Vehicle Title Lending (adding 10VAC5-210-10 through 10VAC5-210-110).
A public
hearing will be held on September 7, 2010, at 2 p.m. at the State Corporation
Commission, Courtroom, Tyler Building, Richmond, Virginia.
Summary:
The
State Corporation Commission is proposing regulations in connection
with Chapter 477 of the 2010 Acts of Assembly, which, effective October
1, 2010, establishes a comprehensive licensing and regulatory framework
for motor vehicle title lenders and motor vehicle title loans. The proposed
regulations (i) define various terms used in Chapter 477, including
"duplicate original" and "good funds instrument";
(ii) require a licensee to file written reports with the Commissioner
of Financial Institutions within 15 days following the occurrence of
certain events (including those events set forth in Chapter 477); (iii)
require a licensee to provide prospective borrowers with a warning notice;
(iv) prescribe the contents of the rights and responsibilities pamphlet;
(v) require a licensee to post in or on its licensed locations the days
and hours during which it is open for business so that the posting is
legible from outside; (vi) prohibit a licensee from making a motor vehicle
title loan to a borrower on the same day that the borrower repaid or
satisfied in full a motor vehicle title loan from the same licensee
or another licensee; (vii) require a licensee to include various questions
in its loan application form so that the licensee will know whether
an applicant is ineligible for a motor vehicle title loan; (viii) provide
that a licensee must release its security interest and take other specified
actions within 10 days after the date that a borrower's obligations
under a motor vehicle title loan are satisfied in full; (ix) require
a licensee to provide certain data to the Commissioner of Financial
Institutions when filing its annual report, such as the total number
and dollar amount of motor vehicle title loans made by the licensee;
(x) set forth the rules governing the conduct of other business in motor
vehicle title lending offices, including the findings that the commission
would need to make before approving an application to conduct other
business in a licensee's motor vehicle title lending offices, the uniform
conditions applicable to the conduct of any approved other business
as well as the conditions attached to specific types of other businesses,
such as making payday loans, acting as an agent of a money transmitter,
and providing tax preparation services; (xi) require a licensed motor
vehicle title lender to disclose certain information in its advertisements,
including the name of the lender as set forth in the license issued
by the commission and a statement that the lender is "licensed
by the Virginia State Corporation Commission"; (xii) require a
licensee to maintain certain records for at least three years after
final payment is made on a motor vehicle title loan, including copies
of the loan application, the loan agreement, and a record of the fair
market value of the motor vehicle securing the loan; (xiii) require
a licensee to maintain a repossession log or similar record of all motor
vehicles that have been repossessed by or on behalf of the licensee;
(xiv) require a licensee to maintain certain other records for at least
three years after a motor vehicle used to secure a loan is repossessed
and sold by or on behalf of the licensee, including copies of the written
notices and accounting that were mailed by the licensee to the borrower
prior to the sale of the motor vehicle; (xv) clarify the commission's
enforcement authority and provide that the commission may, at its discretion,
waive or grant exceptions to any provision of its motor vehicle title
lending regulations for good cause shown; and (xvi) set forth various
other requirements and limitations. In addition, the proposed regulations
reflect statutory citations to Title 6.2 in conformance with Chapter
794 of the 2010 Acts of Assembly, which recodified Title 6.1 of the
Code of Virginia as Title 6.2.
For
more information, please contact Susan Hancock, Deputy Commissioner, Bureau
of Financial Institutions, State Corporation Commission, Richmond, VA,
telephone (804) 371-9701, FAX (804) 371-9416, or email susan.hancock@scc.virginia.gov.
Division
of Legislative Services > Legislative
Record > 2010
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