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§ 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...
§ 6.2-1199. Powers of Commission in case of nonobservance of law, noncompliance with orders, insufficient reserves or insolvency; appointment of Federal Deposit Insurance Corporation as receiver - A. If the Commission finds that: (i) the laws of...
§ 6.2-1200. Removal of director or officer; appeal; penalty for acting after removal - A. Whenever any director or officer of a savings institution...
§ 6.2-1201. Special examinations - When (i) written application is made to the Commission by...
§ 6.2-1202. Fees for supervision and regulation; investigations - A. For the purpose of defraying the expenses of supervision...
§ 6.2-1203. Examination of persons believed to be doing business without authority; doing business without authority; penalty - A. The Commissioner shall examine the accounts, books, and papers...
§ 6.2-1204. Compliance by savings institution holding companies with federal regulations constitutes compliance with Commission regulations - Any savings institution holding company that does not have any...
§ 6.2-1205. Merger, consolidation or transfer of assets of insolvent or financially unstable savings institution; notice and hearing; final order; priorities; examinations of resulting institutions - A. As used in this section: "Bank" or "savings institution"...