Virginia Code 6.2-1164: Acquisitions of state savings bank or holding companies by out-of-state financial institutions
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A state savings bank, or holding company thereof, may not be acquired by a financial institution, or financial institution holding company, whose principal place of business is outside the Commonwealth, except in accordance with the provisions of this article.
Terms Used In Virginia Code 6.2-1164
- Financial institution: means any bank, trust company, savings institution, industrial loan association, consumer finance company, or credit union. See Virginia Code 6.2-100
- Financial institution holding company: has the meaning assigned to it in § 6. See Virginia Code 6.2-1100
- Savings bank: means a savings institution specifically chartered under the laws of the Commonwealth, another state or a territory of the United States, the District of Columbia, or the United States as a savings bank. See Virginia Code 6.2-1100
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
1991, c. 230, § 6.1-194.132; 2010, c. 794.