Beneficial Finance Co. v. State Corp. Commission – Virginia Verdicts

Docket No.	Op. Below	Argument	Opinion	Author	Term
850512	- -	- -	January 17, 1986	Thomas	1986

Citation: Beneficial Finance Co. v. State Corp. Commission, 339 S.E.2d 192, 230 Va. 529, 1986 Va. LEXIS 155 (1986).

Holding

This is an appeal of right from the State Corporation Commission. In order to understand this dispute fully, we must focus upon a series of events, some of which pre-date the filing of the case under review. The Commission recited this history in its final order.

Beneficial Finance Company of Virginia (Beneficial) is a regulated lender under the Virginia Consumer Finance Act. Pursuant to Code § 6.1-267,^* a regulated lender cannot conduct any “other *531business” in the regulated office without first obtaining authority from the Commission to do so.