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 Repealed - Repealed by Acts 2019, cc. 253 and 254, cl. 2,...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