Prior to approving the acquisition of any Virginia bank or Virginia bank holding company by any out-of-state bank holding company, or the acquisition of any out-of-state bank or out-of-state bank holding company by any Virginia bank holding company, the Commission shall enter into cooperative agreements with the appropriate regulatory authorities for the periodic examination of any out-of-state bank holding company that has a Virginia bank subsidiary, or any subsidiary of such holding company. The Commission may accept reports of examination and other records from such authorities in lieu of conducting its own examinations.
1985, c. 544, § 6.1-404; 1994, c. 351; 2010, c. 794.
Structure Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 7 - Acquisitions of Interests in Financial Institutions
§ 6.2-702. Registration; authority to transact business
§ 6.2-705. Investigation of application
§ 6.2-706. Cooperative agreements with other regulatory authorities
§ 6.2-707. Reports and examinations
§ 6.2-708. Unsafe or unsound practices; cease and desist orders
§ 6.2-709. Conformity with federal forms
§ 6.2-710. Regulations excluding financial institution holding companies from this chapter
§ 6.2-711. Civil penalties; injunction