A. Any Virginia bank that is controlled by a bank holding company that is not a Virginia bank holding company shall be subject to all laws of the Commonwealth and all regulations under such laws that are applicable to Virginia banks controlled by Virginia bank holding companies.

Terms Used In Virginia Code 6.2-713

  • Bank holding company: has the meaning assigned to it in 12 U. See Virginia Code 6.2-700
  • Commission: means the State Corporation Commission. See Virginia Code 6.2-100
  • Virginia bank: means a bank that is organized under the laws of the Commonwealth or of the United States and that has the Commonwealth as its home state. See Virginia Code 6.2-700
  • Virginia bank holding company: means a bank holding company that has the Commonwealth as its home state and is not controlled by a bank holding company other than a Virginia bank holding company. See Virginia Code 6.2-700

B. The Commission shall adopt such regulations, including the imposition of reasonable application and administration fees, as it finds necessary to implement and effect the provisions of this chapter.

1985, c. 544, § 6.1-403; 2010, c. 794.

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