Code of Virginia
Title 6.2 - Financial Institutions and Services

§ 6.2-103.1. Financial institutions to furnish certain information as part of adult protective services investigation - Notwithstanding any other provision of law, any financial institution subject...

§ 6.2-104. Directors to serve only one institution - A. No officer or director of any financial institution, other...

§ 6.2-105. Reclassification or conversion of banking institution shares - A. As used in this section, unless the context requires...

§ 6.2-106. Payment of civil penalties - Civil penalties paid pursuant to this title, when collected, shall...

§ 6.2-107. Effect of contract provision requiring amendment or waiver to be in writing - If any written contract to which a financial institution is...

Chapter 2 - Money and Currency

§ 6.2-200. Money of account - A. The money of account of the Commonwealth shall be...

§ 6.2-201. Ascertaining value in money of account for money expressed in foreign currency - A. In any suit for a sum of money expressed...

§ 6.2-202. Issuance of currency and related prohibited acts - A. No individual or entity, unless authorized by law, shall:...

§ 6.2-203. Contracts and securities from illegal currency dealing void; recovery of payments - A. All contracts and securities that originate from, or are...

§ 6.2-204. Capital stock of certain entities vested in Commonwealth; proceedings to recover stock; liability - A. The capital stock of every entity formed to engage...

Chapter 3 - Interest and Usury

§ 6.2-300. Definitions - As used in this chapter, unless the context otherwise requires:...

§ 6.2-301. Legal rate of interest; when legal rate implied - A. The legal rate of interest shall be an annual...

§ 6.2-302. Judgment rate of interest - A. The judgment rate of interest shall be an annual...

§ 6.2-303. Contracts for more than legal rate of interest - A. Except as otherwise permitted by law, no contract shall...

§ 6.2-304. Plea of usury; judgment - Any borrower may plead in general terms that the contract...

§ 6.2-305. Recovery of twice total usurious interest paid; limitation of action; injunction to prevent sale of property pending action; effect of errors in computation - A. If interest in excess of that permitted by an...

§ 6.2-306. Waiver of rights violative of public policy - A. Any agreement or contract in which the borrower waives...

§ 6.2-307. Assertion of defenses or claims by borrowers; effect of assignment - As to any loan to which the provisions of §§...

§ 6.2-308. Entities not permitted to plead usury - A. No (i) corporation, (ii) partnership that is required to...

§ 6.2-309. Charges by banks and savings institutions on installment loans - Notwithstanding any statutory or case law, a bank or savings...

§ 6.2-310. Rate of interest chargeable by state banks and savings institutions - In addition to the permissible interest rates and charges specifically...

§ 6.2-311. Closed-end installment loans by sellers of goods or services - A. Any seller of goods or services who extends credit...

§ 6.2-312. Open-end credit plans - A. The provisions of this section shall apply to any...

§ 6.2-313. Open-end credit extended by banks or savings institutions - A. Notwithstanding any statutory or case law, any bank or...

§ 6.2-314. Motor vehicle purchase loans by subsidiaries and affiliates of banks and savings institutions - Notwithstanding any statutory or case law, a subsidiary or affiliate...

§ 6.2-315. Loans by certain financial institutions or brokers payable on demand or having a term up to one year - Any bank, savings institution, broker duly licensed to transact business...

§ 6.2-316. Loans of $5,000 or more made by certain financial institutions - No person shall, by way of defense or otherwise, avail...

§ 6.2-317. Loans of $5,000 or more for business or investment purposes - A. For purposes of this section: 1. A loan shall...

§ 6.2-318. Loans by credit unions - A. As used in this section, "average daily balance" means,...

§ 6.2-319. Loans by pension plans to participants - A. As used in this section, "pension plan" includes an...

§ 6.2-320. Loans by industrial loan associations - A. Notwithstanding any statutory or case law relating to interest...

§ 6.2-321. Loans pursuant to stock option financing programs - A. As used in this section, "stock option financing program...

§ 6.2-322. Extensions of credit on pledged securities - A broker-dealer licensed by the Commission and registered with the...

§ 6.2-323. Educational loans by banks or savings institutions - Notwithstanding any statutory or case law relating to interest or...

§ 6.2-324. Educational loans by private institution of higher education - A. As used in this section, "private institution of higher...

§ 6.2-325. Certain loans secured by first deed of trust or mortgage - A. As used in this section, "real estate" includes a...

§ 6.2-326. Fees and charges in connection with loans by real estate lenders - A. A lender engaged in making real estate mortgage or...

§ 6.2-327. Certain loans secured by a subordinate deed of trust or mortgage - A. As used in this section: "Exempt subordinate mortgage lender"...

§ 6.2-328. Charges allowed on loan secured by subordinate mortgage - A. Any lender making a loan secured by a subordinate...

§ 6.2-329. Loans insured or guaranteed by certain governmental agencies - A. No person shall, by way of defense or otherwise,...

Chapter 4 - Certain Lending Practices

§ 6.2-400. Amount of late charge; when charge can be made - A. As used in this section: "Late charges" does not...

§ 6.2-401. Acceleration clause in note evidencing installment loan; effect of acceleration - A. Any note or other contract evidencing an installment loan...

§ 6.2-402. Notice of use of Rule of 78 rebate method - Where any loan or sale on credit contains a provision...

§ 6.2-403. The Rule of 78 - A. The Rule of 78 is so named because the...

§ 6.2-404. When use of Rule of 78 prohibited or permitted - A. The Rule of 78 shall not be used to...

§ 6.2-405. References to sections regulating rebates of unearned interest and prepayment penalties - A. This article does not affect the application of §§...

§ 6.2-406. Disclosure of terms of mortgage application - A. Any lender making, or broker arranging, loans secured by...

§ 6.2-407. Lenders to furnish borrower with copy of appraisal - Any lender that requires a borrower or prospective borrower to...

§ 6.2-408. Priority of interest on debts secured by mortgage or deed of trust - Interest that is charged pursuant to a written agreement, whether...

§ 6.2-409. Addition of unpaid interest to principal balance - A. For the purpose of this section: "First deed of...

§ 6.2-410. Borrowers not to be required to employ particular professionals - In the case of loans secured by deeds of trust...

§ 6.2-411. Requirements relating to insurance - A. Any lender making a loan secured by a subordinate...

§ 6.2-412. Insurance coverage under certain loans not to exceed replacement value of improvements - A. As used in this section: "Flood insurance coverage" means...

§ 6.2-413. Obligation of lender to reimburse unused mortgage guaranty insurance premiums - Any lender that requires, as a prerequisite to its lending...

§ 6.2-414. Obligation of person maintaining escrow account to pay taxes and insurance; penalties - Any lender or other person maintaining escrow accounts for the...

§ 6.2-415. Lender not to cancel insurance policy at time of refinancing under certain circumstances - A. No lender shall require a borrower or debtor, for...

§ 6.2-416. Certain mortgages not to prohibit further encumbrance of real property - Where any loan is secured by a mortgage or deed...

§ 6.2-417. Mortgage or deed of trust to contain notice that debt is subject to call or modification on conveyance of property - Where any loan is secured by a mortgage or deed...

§ 6.2-418. Property owner entitled to written statement of payoff amount - A. If an obligation is secured by the lien of...

§ 6.2-419. Disclosure of terms of assumption - A. An owner of residential real estate that is improved...

§ 6.2-420. Prepayment penalty not to be collected in certain circumstances - No lender shall collect or receive any prepayment penalty on...

§ 6.2-421. Certain contracts to permit prepayment; amount of prepayment penalty - A. For the purpose of this section: 1. "First deed...

§ 6.2-422. Prepayment penalty for loan secured by home occupied by borrower - The prepayment penalty in the case of a loan secured...

§ 6.2-423. Prepayment of loans secured by certain subordinate mortgages or deeds of trust; rebates for unearned interest - A. Any borrower under any loan secured by a subordinate...

§ 6.2-424. Definitions - As used in this article, unless the context otherwise requires:...

§ 6.2-425. Cardholder not liable in absence of request for, consent to issuance of, or use of card - A. A cardholder who receives a credit card from an...

§ 6.2-426. When request, consent, or use not condition precedent to liability - The request, consent, or use required in § 6.2-425 as...

§ 6.2-427. Costs and attorney fee in suit on card; evidence of request or consent - A. In any suit arising out of the use of...

§ 6.2-428. Production of credit card number as condition of check cashing or acceptance prohibited - A. Except as otherwise provided in subsection D, no person...

§ 6.2-429. Improper use of payment device numbers - A. No person that accepts payment devices for any purpose...

§ 6.2-430. Place where transaction occurred; federal Fair Credit Billing Act - Solely for the purpose of a buyer asserting claims and...

§ 6.2-431. Certain cards excepted - Except as set forth in § 6.2-428, the provisions of...

§ 6.2-432. Credit card account disclosures - Any application form or preapproved written solicitation for an open-end...

§ 6.2-433. Amendment to open-end credit contract or plan by bank or savings institution - A. Any open-end credit plan, as defined in § 6.2-300,...

§ 6.2-434. Law governing open-end credit contract or plan by bank or savings institution - An open-end credit plan, as defined in § 6.2-300, between...

§ 6.2-435. Law governing open-end credit contract or plan by seller or lender - An open-end credit plan as defined in § 6.2-300, between...

§ 6.2-436. Compliance with federal law - Every person subject to the provisions of 15 U.S.C. §...

§ 6.2-437. Right of buyer of consumer goods to refinance certain payments; agreements as to fluctuation in schedule of payments - A. In any sales transaction, except one pursuant to an...

Chapter 5 - Equal Credit Opportunities

§ 6.2-500. Definitions - As used in this chapter, unless the context requires a...

§ 6.2-501. Prohibited discrimination - A. As used in this section, "age" means being an...

§ 6.2-502. Notification of action on credit application - Within 30 days, or such longer reasonable time as specified...

§ 6.2-503. Statement of reasons for adverse action - A. Each applicant against whom adverse action is taken shall...

§ 6.2-504. Requirement of signatures of both parties to a marriage not discriminatory in a secured transaction - For the purposes of a secured transaction, a request for...

§ 6.2-505. Remedies for violation - A. Any creditor who fails to comply with any requirement...

§ 6.2-506. Commission regulations - The Commission shall adopt regulations to effectuate the purposes of...

§ 6.2-507. Limitation on liability - No provision of this chapter imposing any liability shall apply...

§ 6.2-508. Compliance with Equal Credit Opportunity Act constitutes compliance with chapter - Compliance with the federal Equal Credit Opportunity Act, (15 U.S.C....

§ 6.2-509. Public to be informed of rights under chapter - The Commission shall use any methods available to it to...

§ 6.2-510. Commission to investigate complaints; records to be open to public - The Commission shall receive, investigate, and mediate complaints of violations...

§ 6.2-511. Credit standards discoverable - Nothing in this chapter shall be construed to prohibit the...

§ 6.2-512. Election of remedies - Where the same act or omission constitutes a violation of...

§ 6.2-513. Authority of Attorney General - Notwithstanding any other provisions of the law to the contrary,...

Chapter 6 - Deposits and Accounts

§ 6.2-600. Repealed - Repealed by Acts 2013, cc. 30 and 102.

§ 6.2-601. Federal insurance of deposits required for all banks or savings institutions - Notwithstanding any other provisions contained in this title, no bank...

§ 6.2-602. Adverse claims to accounts - A. Notice to any financial institution doing business in the...

§ 6.2-603. Medical savings accounts and health savings accounts - To the extent allowed by federal law, a bank, insured...

§ 6.2-603.1. Savings promotions - A. As used in this section, unless the context requires...

§ 6.2-604. Definitions - As used in this article, unless the context requires a...

§ 6.2-605. Applicability - A. The provisions of §§ 6.2-606, 6.2-607, and 6.2-608 concerning...

§ 6.2-606. Ownership during lifetime; garnishment, attachment, or levy - A. A joint account belongs, during the lifetimes of all...

§ 6.2-607. Effect of divorce - Upon the entry of a decree of divorce, either a...

§ 6.2-608. Right of survivorship - A. Sums remaining on deposit at the death of a...

§ 6.2-609. Change of form of account upon written order to financial institution - The provisions of § 6.2-608 as to rights of survivorship...

§ 6.2-610. Transfers arising from right of survivorship nontestamentary - Any transfers resulting from the application of § 6.2-608 are...

§ 6.2-611. Liability of surviving party for debts and other liabilities of decedent's estate - A. If the assets of a deceased party's estate, other...

§ 6.2-612. Financial institution duties; multiple-party accounts; multiple-fiduciary accounts - A. Financial institutions may enter into multiple-party accounts to the...

§ 6.2-613. Payment of sums in joint account - Any sums in a joint account may be paid, on...

§ 6.2-614. Payment of P.O.D. account - Any P.O.D. account may be paid, on request, to any...

§ 6.2-615. Payment of trust account - Any trust account may be paid, on request, to any...

§ 6.2-615.1. Payment of multiple-fiduciary account - Any multiple-fiduciary account may be paid, on request, (i) to...

§ 6.2-616. Discharge of financial institution upon payment - A. Payment made pursuant to §§ 6.2-612 through 6.2-615 discharges...

§ 6.2-617. Setoff by financial institution against account - Without qualifying any other statutory right to setoff or lien,...

§ 6.2-618. Identification of joint accounts - A. Every financial institution in the Commonwealth offering joint accounts...

§ 6.2-619. Certain duties of parties to joint accounts in financial institutions - A. Parties to a joint account in a financial institution...

§ 6.2-620. Application of article to accounts existing on July 1, 1980 - A. Unless otherwise provided in this article, the provisions of...

Chapter 7 - Acquisitions of Interests in Financial Institutions

§ 6.2-700. Definitions - As used in this chapter, unless the context requires a...

§ 6.2-701. Presumptions regarding control of entities, ownership of shares, and activities of subsidiaries or other entities - A. A person shall be deemed to control another entity...

§ 6.2-702. Registration; authority to transact business - Every person that controls one or more Virginia financial institutions...

§ 6.2-703. Acquisition of interest in entity other than financial institution by financial institutions - No financial institution shall acquire more than five percent of...

§ 6.2-704. Acquisition of interests in financial institutions and financial institution holding companies; application; notice; Commission approval required - A. Except as provided in this chapter, no person shall...

§ 6.2-705. Investigation of application - A. For 60 days following receipt of a complete application...

§ 6.2-706. Cooperative agreements with other regulatory authorities - Prior to approving the acquisition of any Virginia bank or...

§ 6.2-707. Reports and examinations - The Commission may require any financial institution holding company that...

§ 6.2-708. Unsafe or unsound practices; cease and desist orders - Upon finding that any activity of a financial institution holding...

§ 6.2-709. Conformity with federal forms - To the maximum extent consistent with the effective discharge of...

§ 6.2-710. Regulations excluding financial institution holding companies from this chapter - The Commission may adopt regulations excluding financial institution holding companies...

§ 6.2-711. Civil penalties; injunction - A. To the extent provided for therein, the Commission may...

§ 6.2-712. A savings institution holding company seeking to acquire a bank or bank holding company deemed a bank holding company - For purposes of this chapter, any savings institution holding company...

§ 6.2-713. Applicable laws and regulations - A. Any Virginia bank that is controlled by a bank...

§ 6.2-714. Examinations of out-of-state bank holding companies and subsidiaries; reports; joint actions - A. The Commission shall have the authority to examine any...

§ 6.2-715. Notice of intent to acquire out-of-state bank - A Virginia bank holding company or an out-of-state bank holding...

Chapter 8 - Banks

§ 6.2-800. Definitions - As used in this chapter, unless the context requires a...

§ 6.2-801. Application of chapter - The provisions of this chapter shall apply to all state...

§ 6.2-802. Effect of chapter on certain banks - A. Nothing in this chapter shall be construed to change...

§ 6.2-803. Entities authorized to engage in banking business - A. No person, except (i) corporations duly chartered and already...

§ 6.2-804. Amendment of powers of state banks by regulation of the Commission - A. In addition to the powers specifically granted to banks...

§ 6.2-805. Commission authorized to confer on state banks power to make charges comparable to those permitted to national banking associations - In addition to the permissible interest rates and charges that...

§ 6.2-806. Saturday closing of banks - Any bank, including national banking associations and federal reserve banks,...

§ 6.2-807. Discoverability or admissibility of compliance review committee documents - A. As used in this section, "compliance review committee" means...

§ 6.2-808. Incorporation; corporate powers - A. A bank may be incorporated under the Virginia Stock...

§ 6.2-809. Bankers' banks - A. A bank may be incorporated as provided in §...

§ 6.2-810. Effect of chapter on charter powers - The powers, privileges, duties and restrictions conferred and imposed upon...

§ 6.2-811. Membership in Federal Reserve Bank System or Federal Home Loan Bank System - Any bank that has been or is hereafter incorporated under...

§ 6.2-812. Inspection of records, reports, and information of insured banks - A. As used in this section, "insured bank" has the...

§ 6.2-813. Participation by banks in school thrift or savings plans - A bank may contract with the principal of any elementary...

§ 6.2-814. Powers of banks - A. Every bank shall have power to exercise, by its...

§ 6.2-815. Suspension of business during emergency - Every bank doing business in the Commonwealth is authorized temporarily...

§ 6.2-816. Banks to obtain certificate of authority - A. Before any bank shall begin business it shall obtain...

§ 6.2-817. Capital stock subscriptions - A. Subscriptions to the capital stock of a bank shall...

§ 6.2-818. Repealed - Repealed by Acts 2019, cc. 253 and 254, cl. 2,...

§ 6.2-818.1. Virtual currency custody services by banks - A. As used in this section, unless the context requires...

§ 6.2-819. Authority to engage in trust business; permission of Commission required - A. A bank shall not engage in the trust business...

§ 6.2-820. Powers of national banks as fiduciaries - All national banks that have been, or hereafter may be,...

§ 6.2-821. Separation of banking and trust functions; establishment of trust department - Every state bank that obtains permission from the Commission to...

§ 6.2-822. Merger and share exchange by state banks - A. Virginia banks as defined in § 6.2-849 may merge...

§ 6.2-823. Conversion of national banking association to state bank; certificate of authority - A. A national banking association, organized under the laws of...

§ 6.2-824. Status of converted bank - Upon the conversion of a national banking association to a...

§ 6.2-825. State bank becoming national bank; notice required; effect on liabilities - A. Any bank incorporated under the laws of the Commonwealth...

§ 6.2-826. Effect of conversion of state bank to national bank - A. When a conversion of a state bank into a...

§ 6.2-827. Rights of national bank stockholders dissenting from conversion - The rights of stockholders of a national banking association who...

§ 6.2-828. Conversion of state bank to federal savings institution - A. A state bank may convert into a federal savings...

§ 6.2-829. Conversion from state savings bank to state bank; conversion from state bank to state savings bank - A. A state savings bank may be converted into a...

§ 6.2-830. Conversion from stock association to bank; conversion from bank to stock association - A. A state stock association may be converted into a...

§ 6.2-831. Establishment of branch banks; redesignation of main office - A. A bank may establish and operate one or more...

§ 6.2-832. Establishment of automated teller machines and electronic terminals - A. No application to, or approval from, the Commission shall...

§ 6.2-833. Bank agent for depository institution - A bank may act as the agent of any other...

§ 6.2-834. Operation of branch office under different name; civil penalty - A. No branch office shall be operated or advertised under...

§ 6.2-835. Banking facilities in certain hospitals or federal areas - A. The Commission, when in its discretion banking facilities are...

§ 6.2-836. Definitions - As used in this article, unless a different meaning is...

§ 6.2-837. Interstate branching by Virginia state banks - A. With the prior approval of the Commission, any Virginia...

§ 6.2-838. Interstate branching - An out-of-state bank that does not already maintain a branch...

§ 6.2-839. Interstate branching through the acquisition of a branch - An out-of-state bank that does not already maintain a branch...

§ 6.2-840. Filing requirements - An out-of-state bank desiring to establish and maintain a de...

§ 6.2-841. Repealed - Repealed by Acts 2014, c. 200, cl. 2.

§ 6.2-842. Powers - A. An out-of-state state bank that establishes and maintains one...

§ 6.2-843. Examination; periodic reports; cooperative agreements; assessment of fees - A. The Commission may make such examinations of any branch...

§ 6.2-844. Enforcement - If the Commission determines that there is any violation of...

§ 6.2-845. Additional branches - An out-of-state bank that has established or acquired a branch...

§ 6.2-846. Regulations; fees - The Commission may adopt such regulations and may provide for...

§ 6.2-847. Notice of subsequent merger or other transaction - An out-of-state state bank that maintains a branch in the...

§ 6.2-848. Repealed - Repealed by Acts 2014, c. 200, cl. 2.

§ 6.2-849. Definitions - As used in this article, unless a different meaning is...

§ 6.2-850. Authority to branch outside the Commonwealth by merger - A. With the prior approval of the Commission, any Virginia...

§ 6.2-851. Interstate merger transactions and branching permitted - Virginia banks may merge with out-of-state banks under this article,...

§ 6.2-852. Filing requirements - Any out-of-state bank that will be the resulting bank pursuant...

§ 6.2-853. Conditions for interstate merger - An interstate merger transaction involving a Virginia bank shall not...

§ 6.2-854. Powers - A. An out-of-state state bank that establishes and maintains one...

§ 6.2-855. Examinations and periodic reports - A. The Commission may make such examinations of any branch...

§ 6.2-856. Cooperative agreements; assessment of fees - A. The Commission may enter into cooperative agreements with the...

§ 6.2-857. Enforcement - If the Commission determines that there is any violation of...

§ 6.2-858. Regulations; fees - The Commission may adopt such regulations, and may provide for...

§ 6.2-859. Notice of subsequent merger - An out-of-state state bank that maintains a branch in the...

§ 6.2-860. Bank to be managed by board of directors; number of directors - The affairs of every bank incorporated under the laws of...

§ 6.2-861. Application of Virginia Stock Corporation Act - The provisions of the Virginia Stock Corporation Act (§ 13.1-601...

§ 6.2-862. Directors to own stock in bank - A. As used in this section, "bank holding company" means...

§ 6.2-863. Oaths of directors - A. Every director of a bank incorporated under the laws...

§ 6.2-864. Report to Commission of election of director - Within 60 days following the election or reelection of any...

§ 6.2-865. Removal of director or officer; appeals; penalty - A. Whenever any director or officer of a bank doing...

§ 6.2-866. Meetings of board of directors - The board of directors of every bank shall hold meetings...

§ 6.2-867. Discount by officer, director, or employee of paper refused by bank - No officer, director, or employee of a bank may purchase...

§ 6.2-868. Bonds required of officers and employees; blanket bond - A. The board of directors of every bank shall require...

§ 6.2-869. Dividends; surplus; undivided profits - A. The board of directors of any bank may declare...

§ 6.2-870. Limitation of amount invested in bank premises - A. No bank, without the approval of the Commission, shall...

§ 6.2-871. Investment in stock or securities of bank service corporations - A. As used in this section, "bank service corporation" means...

§ 6.2-872. For what purpose banks may purchase, hold, and convey real estate - A. In addition to the authority provided in § 6.2-873,...

§ 6.2-873. Additional permissible investments in real estate - A. In addition to the ownership of real estate permitted...

§ 6.2-874. Prohibited uses of bank's own stock; other investments or loans - A. No bank shall: 1. Acquire or own its own...

§ 6.2-875. Limitations on obligations of borrowers - A. As used in this section: "Derivative transaction" shall include...

§ 6.2-876. Loans to executive officers or directors - A. The maximum amount of loans and other extensions of...

§ 6.2-877. Overdrafts by bank officer or director - No bank shall pay an overdraft of an executive officer...

§ 6.2-878. Loans secured by real estate generally - A. As used in this section, "loan secured by real...

§ 6.2-879. Certain loans not considered loans secured by real estate - A. If the bank reasonably and prudently relies upon factors...

§ 6.2-880. Construction loans - A. As used in this section, "construction loan" means a...

§ 6.2-881. Investment in reverse annuity mortgages - A bank may invest in reverse annuity mortgages to the...

§ 6.2-882. Bank borrowing money or rediscounting its notes - A. Any bank borrowing money or rediscounting any of its...

§ 6.2-883. Acceptance of drafts or bills of exchange; issuance of letters of credit - A. Any bank doing business in the Commonwealth, subject to...

§ 6.2-884. Ownership and lease of personal property - A. As used in this section, "personal property" includes fixtures....

§ 6.2-885. Investment in stock or securities of controlled subsidiary corporations - A. As used in this section and §§ 6.2-886, 6.2-887,...

§ 6.2-886. Regulation of controlled subsidiary corporations by Commission - A. A controlled subsidiary corporation shall be subject to audit...

§ 6.2-887. Insurance business of controlled subsidiary - A. In addition to the types of business authorized in...

§ 6.2-888. Real estate brokerage business of controlled subsidiary - A. In addition to the types of business authorized in...

§ 6.2-889. Required reserves - A. As used in this section, unless the context requires...

§ 6.2-890. Preferences by pledging assets - A. No bank shall give preference to any depositor or...

§ 6.2-891. Perfection of certain security interests - When securities are sold by a bank subject to an...

§ 6.2-892. Federal deposit insurance a credit towards certain required bonds - If a bank is required by the laws of the...

§ 6.2-893. Payment of balance of deceased person or person under disability - Any bank may pay any balance on deposit to the...

§ 6.2-894. Deposits in and withdrawals from accounts of convicts - A. Notwithstanding the provisions of Chapter 11 (§ 53.1-221 et...

§ 6.2-895. Repealed - Repealed by Acts 2010, c. 269, cl. 2.

§ 6.2-896. Deposits of minors - A bank may establish a deposit account for a minor...

§ 6.2-897. Bank need not inquire as to fiduciary funds deposited in fiduciary's personal account - If any fiduciary or agent makes a deposit in a...

§ 6.2-898. Examinations - The Commission, as often as it deems necessary in the...

§ 6.2-899. Examination of affiliates - A. As used in this section, "affiliate" of any bank...

§ 6.2-900. Special examinations - The Commission, when (i) written application made to it by...

§ 6.2-901. Assistance in making examinations - A. Upon the making of any examination under the provisions...

§ 6.2-902. Notice of examination - No prior or advance notice of any examination shall be...

§ 6.2-903. Revaluation of assets after examination - If it appears to the Commission, from an examination of...

§ 6.2-904. Report of examination; inspection and dissemination to directors - A. When any bank is examined under the provisions of...

§ 6.2-905. Communications to board or executive committee - Each official communication directed by the Commission or any state...

§ 6.2-906. Disclosure of irregularities; Commission's powers - A. If upon the examination of any bank, the Commission...

§ 6.2-907. Reports of condition and other statements - A. Every bank shall make to the Commission statements of...

§ 6.2-908. Fees for supervision and regulation and for certain examinations and investigations - A. For the purpose of defraying the expenses of supervision...

§ 6.2-909. Assessment and payment of fees; lien - A. Except as provided in subsections B and C, all...

§ 6.2-910. Reduction of fees - If the Commission is of the opinion that the amounts...

§ 6.2-911. Examination of national banks - Every national bank that is now or may be designated...

§ 6.2-912. Definition - As used in this article, "insolvent" or "insolvency" means incapable...

§ 6.2-913. Closing bank; appointment of receiver - A. If (i) any bank is approaching insolvency and no...

§ 6.2-914. Merger or transfer of assets of insolvent bank - A. If the Commission finds that a bank is insolvent,...

§ 6.2-915. Protection of state deposits upon insolvency - If, upon the examination of any bank that is designated...

§ 6.2-916. Appointment of receiver - When, in the judgment of the Commission, it is necessary...

§ 6.2-917. Execution of powers of sale by receivers - A. When any receiver is appointed under the provisions of...

§ 6.2-918. Rights and powers of receivers generally - Any receiver appointed under the provisions of this article shall...

§ 6.2-919. Interest on deposits; distribution of surplus remaining after payment of depositors - When an appropriate court, on a proper application therefor, shall...

§ 6.2-920. Proceedings to bar certain claims against banks in liquidation - If, in a suit having as its object the administration...

§ 6.2-921. When publication of list of creditors unnecessary - If any bank or trust company under the circumstances set...

§ 6.2-922. When publication once in two newspapers sufficient - If there are two or more newspapers having general circulation...

§ 6.2-923. When claims barred - After the lapse of six months from the date of...

§ 6.2-924. Power of receivers to contract for loans and make investments - A. Any court in the Commonwealth that has jurisdiction to...

§ 6.2-925. Definitions - As used in this article, unless the context requires otherwise:...

§ 6.2-926. Appointment of FDIC as receiver - In any case where the Commission has closed and taken...

§ 6.2-927. Transfer of title to bank assets - Upon the appointment of the FDIC as receiver, title to...

§ 6.2-928. Posting of notice; effect of posting notice - Immediately upon closing any bank with the intention of proceeding...

§ 6.2-929. Powers of receiver - The FDIC as receiver shall have the following powers: 1....

§ 6.2-930. Emergency sale of assets - The FDIC as receiver, with ex parte approval of the...

§ 6.2-931. Notice and proof of claim; notice of rejection of claim; petition for hearing - All parties having claims against the closed bank shall present...

§ 6.2-932. Payment of claims filed after prescribed period - Any claim filed after the 180-day claim period prescribed by...

§ 6.2-933. Distribution of assets - A. All claims against the bank's estate, proved to the...

§ 6.2-934. Receivership procedures involving assets held by closed bank as fiduciary - The FDIC as receiver, with the approval of the receivership...

§ 6.2-935. Termination of executory contracts and leases; liability; extension of statute of limitations - Within 180 days of the date of the closing of...

§ 6.2-936. Subrogation to rights of bank depositors - Whenever the FDIC pays, or makes available for payment, the...

§ 6.2-937. Destruction of records - Subject to the approval of the receivership court, the closed...

§ 6.2-938. Engaging in banking business without authority; Commission may examine accounts of suspected person; penalty - A. Every person who trades or deals as a bank,...

§ 6.2-939. Unlawful use of terms indicating that business is bank; penalty - A. A person not authorized to engage in the banking...

§ 6.2-940. Making derogatory statements affecting banks; penalty - Any person who willfully and maliciously makes, circulates, or transmits...

§ 6.2-941. Use of bank name, logo, or symbol for marketing purposes; penalty - A. As used in this section, "name, logo, or symbol,...

§ 6.2-942. False certification of checks; penalty - Any officer, employee, agent, or director of a bank who...

§ 6.2-943. Offenses by officer, director, agent, or employee of bank; penalties - A. Any officer, director, agent, or employee of any bank...

§ 6.2-944. Officers, directors, agents, and employees violating or causing bank to violate laws; civil liability not affected - Any officer, director, agent, or employee of any bank who...

§ 6.2-945. Receiving deposit knowing bank to be insolvent; penalty - A. Any officer, director. or employee of any bank, or...

§ 6.2-946. Civil penalties for violation of Commission's orders - A. The Commission may impose, enter judgment for, and enforce...

§ 6.2-947. Definitions - As used in this article, unless the context requires a...

§ 6.2-948. Privilege for self-assessment reports - Except as otherwise provided in this article: 1. A self-assessment...

§ 6.2-949. Exceptions from self-evaluation privilege - The self-assessment privilege established by § 6.2-948 shall not apply:...

§ 6.2-950. Effect on other privileges - Nothing in this article limits, waives, or abrogates the scope...

§ 6.2-951. Definitions - As used in this article: "Benefits consortium" means a trust...

§ 6.2-952. Conditions for a benefits consortium - A trust shall constitute a benefits consortium when all of...

§ 6.2-953. Benefits consortium and sponsoring association not subject to regulation or taxation as an insurance company - A. A benefits consortium shall not be subject to: 1....

Chapter 10 - Entities Conducting Trust Business

§ 6.2-1000. Definitions - As used in this chapter, unless the context requires otherwise:...

§ 6.2-1001. Entities authorized to engage in trust business - A. No entities, except (i) corporations duly chartered and already...

§ 6.2-1002. Powers of trust institutions - A. All banks that are authorized to do a trust...

§ 6.2-1003. When security not required; payment of probate taxes and fees - A. No bank or trust company with a minimum unimpaired...

§ 6.2-1004. Who may take oath for corporate fiduciary - In all cases where any trust institution shall be appointed...

§ 6.2-1005. Deposit or other use of trust funds - A. Funds received or held in the trust department of...

§ 6.2-1006. Custody of trust securities to be kept separate; federal securities and obligations - A. The securities and investments held in each trust shall...

§ 6.2-1007. Investment of trust funds - A. Funds received or held by a trust institution awaiting...

§ 6.2-1008. Dealings with self or affiliates - A. No trust institution shall buy any property for a...

§ 6.2-1009. Common trust and collective investment funds - A. As used in this section: "Common trust fund" means...

§ 6.2-1010. Holding stock or other securities as fiduciary - A. A trust institution holding stock or other securities as...

§ 6.2-1011. Voting of bank shares held by trust institution as fiduciary; when disqualified - A. As used in this section, "banking corporation" includes a...

§ 6.2-1012. Suspension or prohibition of trust institutions - The Commission may prohibit or suspend from engaging in trust...

§ 6.2-1013. Definitions - As used in this article, unless the context requires a...

§ 6.2-1014. Certificate required - No person shall engage in the trust business without first...

§ 6.2-1015. Application for certificate; fee - A. An application for a certificate shall (i) be in...

§ 6.2-1016. Bond required - A. No applicant shall obtain a certificate without filing with...

§ 6.2-1017. Procedure for granting or denying certificate - Before any trust company shall begin business, it shall obtain...

§ 6.2-1018. Minimum capital; state of incorporation; form of entity - A certificate shall not be issued under § 6.2-1017 to...

§ 6.2-1019. Issuance of shares; subscriptions to stock; stock option plans - A. A trust company shall not issue no-par stock. The...

§ 6.2-1020. Certain transactions by affiliated trust companies prohibited - An affiliated trust company shall not: 1. During the underwriting...

§ 6.2-1021. Commissions or fees for sale of stock not permitted - The Commission shall not issue a certificate of authority to...

§ 6.2-1022. Reacquisition of shares; dividends - A. A trust company may not purchase, redeem or otherwise...

§ 6.2-1023. Acquisition of stock; application - A. Except as provided in this section, no person shall...

§ 6.2-1024. Restrictions on control, officers and directors - A. None of the following individuals or entities shall acquire...

§ 6.2-1025. Report to Commission of election of director - Within 60 days following the election or reelection of any...

§ 6.2-1026. Removal of director or officer; appeals; penalty - A. Whenever any director or officer of a trust company...

§ 6.2-1027. Bonds required of officers and employees; blanket bond - A. The board of directors of every trust company shall...

§ 6.2-1028. Offices - A. When satisfied that the public interest, as defined in...

§ 6.2-1029. Directors - A. The affairs of every trust company shall be directed...

§ 6.2-1030. Discount by officer, director, or employee of refused paper - No officer, director, or employee of a trust company may...

§ 6.2-1031. Reports - Each trust company and trust company holding company shall file...

§ 6.2-1032. Investigations; examinations - A. The Commission may, by its designated officers and employees,...

§ 6.2-1033. Fees - A. In order to defray the costs of their examination,...

§ 6.2-1034. Regulations - The Commission may adopt such regulations as it deems appropriate...

§ 6.2-1035. Audits - The Commission may require trust companies or trust company holding...

§ 6.2-1036. Commission's remedial powers - A. If the Commission finds that a trust company (i)...

§ 6.2-1037. Effect of surrender or revocation of certificate - If a trust company surrenders its certificate or its certificate...

§ 6.2-1038. Appointment of receiver - A. When in the judgment of the Commission it is...

§ 6.2-1039. Engaging in trust business without authority; Commission may examine accounts of suspected person; penalty - A. Every person who trades or deals as a trust...

§ 6.2-1040. Unlawful use of terms indicating that business is trust company; penalty - A. A person not authorized to engage in the trust...

§ 6.2-1041. Civil penalties for failure to comply with § 62-1031 or 62-1032 - A. Any trust company failing to comply with any of...

§ 6.2-1042. Making derogatory statements affecting trust companies; penalty - Any person who willfully and maliciously makes, circulates or transmits...

§ 6.2-1043. Use of trust company name, logo, or symbol for marketing purposes; penalty - A. As used in this section, "name, logo, or symbol,...

§ 6.2-1044. Offenses by officer, director, agent or employee of trust company; penalties - A. Any officer, director, agent, or employee of any trust...

§ 6.2-1045. Officers, directors, agents and employees violating or causing trust company to violate laws; civil liability not affected - Any officer, director, agent, or employee of any trust company...

§ 6.2-1046. Civil penalties for violation of Commission's orders - A. The Commission may impose, enter judgment for, and enforce...

§ 6.2-1047. Definitions - As used in this article, unless the context requires a...

§ 6.2-1048. Organization of subsidiary trust companies - A. A subsidiary trust company may be incorporated and organized...

§ 6.2-1049. Permissible business - A trust subsidiary shall be permitted to engage in trust...

§ 6.2-1050. Directors - The affairs of every trust subsidiary incorporated under the laws...

§ 6.2-1051. Report to Commission of election of director - Within 60 days following the election or reelection of any...

§ 6.2-1052. Removal of director or officer; appeals; penalty - A. Whenever any director or officer of a trust subsidiary...

§ 6.2-1053. Bonds required of officers and employees; blanket bond - A. The board of directors of every trust subsidiary shall...

§ 6.2-1054. Certificate required - No trust subsidiary, other than a wholly owned subsidiary of...

§ 6.2-1055. Trust offices - A trust subsidiary may have trust offices at locations where...

§ 6.2-1056. When security not required of trust subsidiaries - No trust subsidiary with combined unimpaired capital stock and surplus...

§ 6.2-1057. Deposits held or received by trust subsidiaries or subsidiary bank with affiliate banks - A. Funds received or held by a trust subsidiary or...

§ 6.2-1058. Substitution of trust subsidiary as fiduciary - A. Upon obtaining a certificate to engage in the trust...

§ 6.2-1059. Substitution of subsidiary bank as fiduciary - A. Upon obtaining permission to engage in the trust business,...

§ 6.2-1060. Trust subsidiaries to have same powers and restrictions as bank trust departments - Wherever there is granted to or imposed upon a bank...

§ 6.2-1061. Reports; investigations and examinations; civil penalties - A. Each trust subsidiary shall file statements of condition and...

§ 6.2-1062. Offenses by officer, director, agent or employee of trust subsidiary; penalties - A. Any officer, director, agent, or employee of any trust...

§ 6.2-1063. Officers, directors, agents and employees violating or causing trust subsidiary to violate laws; civil liability not affected - Any officer, director, agent, or employee of any trust subsidiary...

§ 6.2-1064. Civil penalties for violation of Commission's orders - A. The Commission may impose, enter judgment for, and enforce...

§ 6.2-1065. Definitions - As used in this article, unless the context requires a...

§ 6.2-1066. Interstate trust offices by Virginia state banks - A. With the prior approval of the Commission, any Virginia...

§ 6.2-1067. Trust business of out-of-state trust institution - A. An out-of-state trust institution that establishes or maintains one...

§ 6.2-1068. Establishing or acquiring an interstate trust office; additional trust offices; notice of closure - A. An out-of-state trust institution that does not already maintain...

§ 6.2-1069. Filing requirements - An out-of-state trust institution desiring to establish and maintain a...

§ 6.2-1070. Conditions for approval - A trust office of an out-of-state trust institution shall not...

§ 6.2-1071. Examinations; periodic reports; cooperative agreements; assessment of fees - A. The Commission may make such examinations of any office...

§ 6.2-1072. Enforcement - If the Commission determines that there is any violation of...

§ 6.2-1073. Regulations; fees - The Commission may adopt such regulations, and may provide for...

§ 6.2-1074. Definitions - As used in this article, unless the context requires a...

§ 6.2-1075. Organization; minimum capital; notice to Bureau; control - A. No person other than a corporation or limited liability...

§ 6.2-1076. Operation and powers - Every private trust company shall have and shall conduct its...

§ 6.2-1077. Reacquisition of shares or interests; dividends - A private trust company shall not purchase, redeem, or otherwise...

§ 6.2-1078. Offices - A. The office at which a private trust company begins...

§ 6.2-1079. Directors or managers - The affairs of every private trust company shall be directed...

§ 6.2-1080. Limitation on powers - A. In the exercise of any power held by a...

§ 6.2-1081. Definitions - As used in this article, unless the context requires a...

§ 6.2-1082. Applications for permission to offer trust services - A. An association desiring to exercise fiduciary powers, either through...

§ 6.2-1083. Commission to issue certificate; powers of associations authorized to offer trust services - A. Upon granting the application of an association to exercise...

§ 6.2-1084. Continuation of trust powers in the event of consolidation or merger of two or more associations - If an association consolidates or merges with another association or...

§ 6.2-1085. When security not required - No association with a minimum combined unimpaired capital and surplus...

§ 6.2-1086. Association's operation and supervision of trust department - A. The board of directors of an association is responsible...

§ 6.2-1087. Books and accounts - Every association exercising trust powers shall keep its fiduciary records...

§ 6.2-1088. Investment of funds and assets held as fiduciary - Funds and assets held by an association in a fiduciary...

§ 6.2-1089. Funds awaiting investment or distribution - A. Funds and assets held in a fiduciary capacity by...

§ 6.2-1090. Dealings with self or affiliates - A. Unless authorized by the governing instrument or by court...

§ 6.2-1091. Voting of financial institution stock held by association as fiduciary; when association disqualified from voting - A. When voting shares of a financial institution are held...

§ 6.2-1092. Transactions between trust accounts - A. An association may sell assets held by it as...

§ 6.2-1093. Custody of assets and investments held in trust - A. The assets and investments of each trust account shall...

§ 6.2-1094. Establishment of common trust funds and collective investment funds; court accountings - A. Any association authorized by the Commission to offer fiduciary...

§ 6.2-1095. Compensation of association acting as fiduciary - A. If the amount of the compensation for acting in...

§ 6.2-1096. Surrender of trust powers by association - Any association that has been granted the right to exercise...

§ 6.2-1097. Effect on trust accounts of appointment of receiver for association or of voluntary dissolution of association - A. If a receiver is appointed for an association, the...

§ 6.2-1098. Revocation of trust powers - A. If, in the opinion of the Commission, an association...

§ 6.2-1099. Trust powers of state savings banks - State savings banks, and their subsidiaries and affiliates, may exercise...

Chapter 11 - Savings Institutions

§ 6.2-1100. Definitions - As used in this chapter, unless the context requires a...

§ 6.2-1101. Construction and application of chapter - A. It is the intention of the General Assembly that...

§ 6.2-1102. Associations operating share accumulation loan plans; continued operation - Notwithstanding any other provision of law with respect to the...

§ 6.2-1103. Prohibitions on conduct of savings institution business; exceptions; penalty - A. No person shall engage in the savings institution business...

§ 6.2-1104. False statements and similar actions prohibited; penalty - Any person who knowingly makes or causes to be made,...

§ 6.2-1105. Use of savings institution name, logo, or symbol for marketing purposes; penalty - A. Except as provided in subsection B, no person shall...

§ 6.2-1106. Prohibitions on the use of certain terms; exceptions; penalty - A. No person not engaged in the business of a...

§ 6.2-1107. Defamation of savings institutions and certain federal agencies prohibited; penalty - No person shall willfully and knowingly make, issue, circulate, or...

§ 6.2-1108. Membership in Federal Home Loan Bank and Federal Deposit Insurance Corporation authorized; insurance required as a condition to receiving deposits; representations that accounts are insured; misleading advertisements - A. A savings institution may become a member of the...

§ 6.2-1109. Representations that accounts are insured; misleading advertisements - A. A savings institution shall not make any representation, oral...

§ 6.2-1110. Membership in facilitating organizations or instrumentalities - A savings institution may become a member of, deal with,...

§ 6.2-1111. Authority to purchase, convey or manage property in which state savings institution has a security interest; time limitation - A. A state savings institution may: 1. Purchase at any...

§ 6.2-1112. Applicability of Virginia Uniform Commercial Code to commercial paper and depository activities of savings institutions - The definitions and provisions contained in Title 8.3A and Title...

§ 6.2-1113. Discoverability or admissibility of compliance review committee documents - A. As used in this section, "compliance review committee" means...

§ 6.2-1114. Application of Virginia Stock Corporation Act and Virginia Nonstock Corporation Act - A. The provisions of the Virginia Stock Corporation Act (§...

§ 6.2-1115. Formation of state savings institutions - A. A stock savings and loan association may be incorporated...

§ 6.2-1116. Corporation name - A. Every association incorporated under the laws of the Commonwealth...

§ 6.2-1117. Par value of shares; payment of shares; reacquisitions of shares or acceptance thereof as security; how subscriptions to stock to be paid; disposition of money received before institution opens; stock option plans - A. Shares of stock issued by a stock institution shall...

§ 6.2-1118. Certificate of authority to do business - A. Before any state savings institution may begin business in...

§ 6.2-1119. Commissions and other fees for sale of stock not permitted - The Commission shall not issue a certificate of authority to...

§ 6.2-1120. Minimum capital requirement - A state savings bank shall comply with the applicable minimum...

§ 6.2-1121. Board of directors - A. The affairs of every state savings institution shall be...

§ 6.2-1122. Meetings of board of directors - The board of directors of every state savings institution shall...

§ 6.2-1123. Notice of meetings of members; determining members entitled to notice or to vote - A. A mutual savings institution shall give notice of its...

§ 6.2-1124. Voting rights; proxies - The right of members of a mutual savings institution to...

§ 6.2-1125. Access to books and records; communication with members - A. Every person having an account or loan with a...

§ 6.2-1126. Audit of savings institution; report - The directors of every savings institution shall, at least once...

§ 6.2-1127. Bonds of officers and employees - A. The directors of every savings institution shall require a...

§ 6.2-1128. Loans to executive officers or directors - A. As used in this section, "executive officer" means an...

§ 6.2-1129. Overdrafts by savings institution officers, directors or employees - A. No savings institution shall pay an overdraft of an...

§ 6.2-1130. Reserves; surplus and undivided profits - A. Every savings institution doing business in the Commonwealth shall...

§ 6.2-1131. Liability of members of mutual savings institutions - A. No member of a mutual savings institution shall be...

§ 6.2-1132. Mutual capital certificates - A. A mutual savings institution shall have the power to...

§ 6.2-1133. Offices and other facilities of state and foreign savings institutions; approval of branch offices required - A. A state savings institution may establish and operate such...

§ 6.2-1134. Facilities associated with branch office - A state or foreign savings institution authorized to transact business...

§ 6.2-1135. Change of branch office location - A. A state savings institution shall not change the permanent...

§ 6.2-1136. Remote service units - A. As used in this section: "Personal security identifier" or...

§ 6.2-1137. Off premises financial services - A. As used in this section, "off premises financial services"...

§ 6.2-1138. Suspension of business during actual or threatened emergency - In the event of an actual or threatened enemy attack...

§ 6.2-1139. Conversion from mutual savings institution to stock institution - A. With the approval of the Commission, and in accordance...

§ 6.2-1140. Reorganization of mutual association into mutual holding company; approval by Commissioner; powers; issuance of stock - A. Notwithstanding any other provision of law, with the approval...

§ 6.2-1141. Conversion of state savings institution into federal financial institution - A. A state savings institution may convert into a federal...

§ 6.2-1142. Conversion of federal financial institution into state savings institution or state bank - A. A federal financial institution doing business in the Commonwealth...

§ 6.2-1143. Conversion from state savings bank to state association; conversion from state association to state savings bank - A. A state savings bank may be converted into a...

§ 6.2-1144. Conversion from stock savings institution to bank - A. A state stock association or state savings bank may...

§ 6.2-1145. Merger or consolidation of savings institutions - A. Two or more mutual savings institutions or two or...

§ 6.2-1146. State association or association holding company acquiring bank; association acquired by bank or bank holding company; merger or consolidation of association and bank - A. Notwithstanding the provisions of § 6.2-874, 6.2-885, or 6.2-886,...

§ 6.2-1147. Acquisition of control of state stock institution requires Commission approval - No person, whether acting alone or in concert with others,...

§ 6.2-1148. Definitions - As used in this article, unless the context requires a...

§ 6.2-1149. Foreign savings institutions; certificate of authority - A. A foreign savings institution shall not transact a savings...

§ 6.2-1150. When operation of foreign savings institution in the Commonwealth is prohibited - When the laws, regulations or administrative actions of another state...

§ 6.2-1151. Applicability of Virginia Stock and Nonstock Corporation Acts - Except as otherwise provided in this chapter, a foreign savings...

§ 6.2-1152. Law applicable to contracts of foreign savings institutions - Any contract made by a foreign savings institution with a...

§ 6.2-1153. Examination and supervision of foreign savings institutions - A. Each foreign savings institution authorized to transact business in...

§ 6.2-1154. Revocation of certificate of authority of foreign savings institution - A. The Commission may revoke a certificate of authority of...

§ 6.2-1155. Unapproved foreign savings institutions - The Commissioner is authorized to obtain an injunction or to...

§ 6.2-1156. Activities that are not considered "doing business." - For the purposes of this chapter and any other law...

§ 6.2-1157. Acquisitions by out-of-state savings institution holding company - A. Any savings institution holding company that does not have...

§ 6.2-1158. Acquisitions by out-of-state savings institution - A. Any out-of-state savings institution that is insured by the...

§ 6.2-1159. Investigation of application; prescribed investigation period; shortening, lengthening or waiving of period; hearing; appeals - A. For 90 days following receipt of a complete application...

§ 6.2-1160. Notice of intent to acquire out-of-state savings institution - A Virginia savings institution, a Virginia savings institution holding company,...

§ 6.2-1161. Applicable laws and regulations; enforcement by Commission - A. Any Virginia savings institution that is controlled by a...

§ 6.2-1162. Periodic reports; interstate agreements - A. The Commission may examine any out-of-state savings institution holding...

§ 6.2-1163. Application of article to bank or bank holding company - For purposes of this chapter, any bank or bank holding...

§ 6.2-1164. Acquisitions of state savings bank or holding companies by out-of-state financial institutions - A state savings bank, or holding company thereof, may not...

§ 6.2-1165. Nonseverability - Notwithstanding the provisions of § 1-243, if any portion of...

§ 6.2-1166. Accounts of state savings institutions - Notwithstanding any restriction in its articles of incorporation limiting the...

§ 6.2-1167. Rules governing withdrawal - A. The holder of a savings account in a savings...

§ 6.2-1168. Redemption - At any time that funds are on hand for the...

§ 6.2-1169. Accounts of savings institutions as legal investments and as security - Administrators, executors, custodians, conservators, guardians, trustees, and other fiduciaries, insurance...

§ 6.2-1170. Deposits of federal taxes and U.S. Treasury tax and loan accounts - Savings institutions may: 1. Serve as depositories for federal taxes...

§ 6.2-1171. Accounts under federal Self-Employed Individuals Tax Retirement Act and federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829) - A. To the extent allowed by federal law, an insured...

§ 6.2-1172. Accounts issued in name of minor - A savings institution may issue accounts to a minor as...

§ 6.2-1173. Powers of attorney on accounts - Any savings institution may continue to recognize the authority of...

§ 6.2-1174. Accounts of deceased or incompetent persons - A. A savings institution may pay funds held in the...

§ 6.2-1175. Repealed - Repealed by Acts 2010, c. 269, cl. 2.

§ 6.2-1176. Accounts of fiduciaries - A savings institution may issue accounts in the name of...

§ 6.2-1177. Savings institution need not inquire as to fiduciary funds deposited in fiduciary's personal account - If any fiduciary or agent makes a deposit in a...

§ 6.2-1178. Accounts held by various trustees for same beneficiary - Whenever trust interests or accounts are created for the same...

§ 6.2-1179. Real estate loans; required investment - A. A state savings institution may originate, invest in, sell,...

§ 6.2-1180. Appraisals; loan-to-value ratios - A. A savings institution may make a real estate loan...

§ 6.2-1181. Initial repayments on real estate loans - Repayments on real estate loans shall begin not later than...

§ 6.2-1182. Adjustable real estate loans - A state savings institution may adjust the interest rate, payment,...

§ 6.2-1183. Special provisions for home loans - The loan term of a home loan shall not exceed...

§ 6.2-1184. Dealing with successors in interest - In the case of any investment made by a savings...

§ 6.2-1185. Trustees on loans secured by deed of trust - Any savings institution in connection with making loans secured by...

§ 6.2-1186. General investment authority of state savings institutions - A. Subject to the powers and limitations regarding real estate...

§ 6.2-1187. Investment authority of state savings banks - Notwithstanding any provision of § 6.2-1186 to the contrary: 1....

§ 6.2-1188. Effect of repeal or amendment of statute or regulation on existing loan or investment - Any investment or loan that was in compliance with the...

§ 6.2-1189. Limitation on liability of savings institutions making loans for certain purposes - A savings institution that makes a loan, the proceeds of...

§ 6.2-1190. Perfection of certain security interests - When securities are sold by a savings institution subject to...

§ 6.2-1191. General supervisory powers of Commission - The Commission shall have general supervisory powers with respect to...

§ 6.2-1192. Regulations - A. The Commission may adopt such regulations as it deems...

§ 6.2-1193. Statements to be furnished by Commission to directors of savings institutions - The Commission shall prepare and make available to each member...

§ 6.2-1194. State savings institutions to furnish financial statements and reports - A. Every state savings institution shall furnish the Commission within...

§ 6.2-1195. Examination of state savings institutions and affiliates by Commissioner; report of examination - A. As used in this section, the term "affiliate of...

§ 6.2-1196. Access to books and evidence of debt; examination of directors, officers, and employees under oath - A. The officers, directors, and employees of every savings institution...

§ 6.2-1197. False statements; penalty - Any officer, director, or agent of a savings institution who...

§ 6.2-1198. Audits - The Commission may require a savings institution doing business in...

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Code of Virginia Title 6.2 - Financial Institutions and Services

Code of Virginia
Title 6.2 - Financial Institutions and Services