Virginia Code 6.2-1152: Law applicable to contracts of foreign savings institutions
Current as of: 2023 | Check for updates
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Any contract made by a foreign savings institution with a resident of the Commonwealth or a foreign corporation authorized to do business in the Commonwealth shall be construed according to the laws of the Commonwealth.
Terms Used In Virginia Code 6.2-1152
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Foreign savings institution: means a savings institution incorporated under the laws of a state other than the Commonwealth, the principal business office of which is located outside the Commonwealth. See Virginia Code 6.2-1100
1985, c. 425, § 6.1-194.44; 2010, c. 794.