A small Virginia broker expects to pay the same annual fee in 2026 as the largest lender in the state. Must the fee schedule bear a reasonable relationship to business volume?
Correct Answer
A) Wrong: the schedule bears a reasonable relation to the business volume
Both the lender and the broker schedules must bear a reasonable relationship to the volume of business, the actual cost of examination, and other factors relating to supervision and regulation. Other choices: equal shares is not the statutory basis; holding the same class of license does not equalise volume; and office count is not the named factor. Source: Va. Code § 6.2-1612(A)
Why This Is the Correct Answer
Both the lender and the broker schedules must bear a reasonable relationship to the volume of business, the actual cost of examination, and other factors relating to supervision and regulation. Other choices: equal shares is not the statutory basis; holding the same class of license does not equalise volume; and office count is not the named factor. Source: Va. Code § 6.2-1612(A)
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