Virginia Code 6.2-836: Definitions
As used in this article, unless a different meaning is required:
Terms Used In Virginia Code 6.2-836
- Acquisition of a branch: means the acquisition of a branch located in a host state, without acquiring the bank of such branch. See Virginia Code 6.2-836
- Bank: has the meaning assigned to it in 12 U. See Virginia Code 6.2-836
- Bank holding company: has the meaning assigned to it in 12 U. See Virginia Code 6.2-836
- Financial holding company: has the meaning assigned to it in 12 U. See Virginia Code 6.2-836
- Home state: means :
1. See Virginia Code 6.2-836
- Host state: means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch. See Virginia Code 6.2-836
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- 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
- State bank: means a bank incorporated under the laws of the Commonwealth and that has its principal place of business in the Commonwealth. See Virginia Code 6.2-800
“Acquisition of a branch” means the acquisition of a branch located in a host state, without acquiring the bank of such branch.
“Affiliate” has the meaning assigned to it in 12 U.S.C. § 1841 (k) of the Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), as amended.
“Bank” has the meaning assigned to it in 12 U.S.C. § 1813 (a) (1) of the Federal Deposit Insurance Company Act of 1956 (12 U.S.C. § 1811 et seq.), as amended.
“Bank holding company” has the meaning assigned to it in 12 U.S.C. § 1841 (a) of the Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), as amended.
“Commercial activities” means activities in which a bank holding company, a financial holding company, a national bank, or a national bank financial subsidiary may not engage under federal law.
“De novo branch” means a branch of a bank located in a host state which (i) is originally established by the bank as a branch and (ii) does not become a branch of the bank as a result of the acquisition of another bank or a branch of another bank, or the merger, consolidation, or conversion of any such bank or branch.
“Financial holding company” has the meaning assigned to it in 12 U.S.C. § 1841 (p) of the Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), as amended.
“Home state” means:
1. With respect to a national bank, the state in which the main office of the bank is located;
2. With respect to a state bank, the state by which the bank is chartered;
3. With respect to a foreign bank, the state determined to be the home state of such foreign bank under 12 U.S.C. § 3103 (c).
“Host state” means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch.
“Out-of-state bank” means a bank whose home state is a state other than the Commonwealth.
“Out-of-state state bank” means a bank chartered under the laws of any state other than the Commonwealth.
“Virginia state bank” means a bank chartered under the laws of Virginia.