There is a newer version of the Code of Virginia
2016 Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 8 - Banks
Article 1. General Provisions
- § 6.2-800. Definitions
- § 6.2-801. Application of chapter
- § 6.2-802. Effect of chapter on certain banks
- § 6.2-803. Entities authorized to engage in banking business
- § 6.2-804. Amendment of powers of state banks by regulation of the Commission
- § 6.2-805. Commission authorized to confer on state banks power to make charges comparable to those permitted to national banking associations
- § 6.2-806. Saturday closing of banks
- § 6.2-807. Discoverability or admissibility of compliance review committee documents
Article 2. Incorporation and Powers
- § 6.2-808. Incorporation; corporate powers
- § 6.2-809. Bankers' banks
- § 6.2-810. Effect of chapter on charter powers
- § 6.2-811. Membership in Federal Reserve Bank System or Federal Home Loan Bank System
- § 6.2-812. Inspection of records, reports, and information of insured banks
- § 6.2-813. Participation by banks in school thrift or savings plans
- § 6.2-814. Powers of banks
- § 6.2-815. Suspension of business during emergency
- § 6.2-816. Banks to obtain certificate of authority
- § 6.2-817. Capital stock subscriptions
- § 6.2-818. Commissions or other compensation for sale of stock not permitted
Article 3. Conduct of Trust Business by Banks
- § 6.2-819. Authority to engage in trust business; permission of Commission required
- § 6.2-820. Powers of national banks as fiduciaries
- § 6.2-821. Separation of banking and trust functions; establishment of trust department
Article 4. Bank Mergers and Conversions
- § 6.2-822. Merger and share exchange by state banks
- § 6.2-823. Conversion of national banking association to state bank; certificate of authority
- § 6.2-824. Status of converted bank
- § 6.2-825. State bank becoming national bank; notice required; effect on liabilities
- § 6.2-826. Effect of conversion of state bank to national bank
- § 6.2-827. Rights of national bank stockholders dissenting from conversion
- § 6.2-828. Conversion of state bank to federal savings institution
- § 6.2-829. Conversion from state savings bank to state bank; conversion from state bank to state savings bank
- § 6.2-830. Conversion from stock association to bank; conversion from bank to stock association
Article 5. Branches and Facilities
- § 6.2-831. Establishment of branch banks; redesignation of main office
- § 6.2-832. Establishment of automated teller machines and electronic terminals
- § 6.2-833. Bank agent for depository institution
- § 6.2-834. Operation of branch office under different name; civil penalty
- § 6.2-835. Banking facilities in certain hospitals or federal areas
Article 6. Interstate Branching
- § 6.2-836. Definitions
- § 6.2-837. Interstate branching by Virginia state banks
- § 6.2-838. Interstate branching
- § 6.2-839. Interstate branching through the acquisition of a branch
- § 6.2-840. Filing requirements
- § 6.2-841. Repealed
- § 6.2-842. Powers
- § 6.2-843. Examination; periodic reports; cooperative agreements; assessment of fees
- § 6.2-844. Enforcement
- § 6.2-845. Additional branches
- § 6.2-846. Regulations; fees
- § 6.2-847. Notice of subsequent merger or other transaction
- § 6.2-848. Repealed
Article 7. Interstate Bank Mergers
- § 6.2-849. Definitions
- § 6.2-850. Authority to branch outside the Commonwealth by merger
- § 6.2-851. Interstate merger transactions and branching permitted
- § 6.2-852. Filing requirements
- § 6.2-853. Conditions for interstate merger
- § 6.2-854. Powers
- § 6.2-855. Examinations and periodic reports
- § 6.2-856. Cooperative agreements; assessment of fees
- § 6.2-857. Enforcement
- § 6.2-858. Regulations; fees
- § 6.2-859. Notice of subsequent merger
Article 8. Directors and Officers; Dividends
- § 6.2-860. Bank to be managed by board of directors; number of directors
- § 6.2-861. Application of Virginia Stock Corporation Act
- § 6.2-862. Directors to own stock in bank
- § 6.2-863. Oaths of directors
- § 6.2-864. Report to Commission of election of director
- § 6.2-865. Removal of director or officer; appeals; penalty
- § 6.2-866. Meetings of board of directors
- § 6.2-867. Discount by officer, director, or employee of paper refused by bank
- § 6.2-868. Bonds required of officers and employees; blanket bond
- § 6.2-869. Dividends; surplus; undivided profits
Article 9. Investments and Loans
- § 6.2-870. Limitation of amount invested in bank premises
- § 6.2-871. Investment in stock or securities of bank service corporations
- § 6.2-872. For what purpose banks may purchase, hold, and convey real estate
- § 6.2-873. Additional permissible investments in real estate
- § 6.2-874. Prohibited uses of bank's own stock; other investments or loans
- § 6.2-875. Limitations on obligations of borrowers
- § 6.2-876. Loans to executive officers or directors
- § 6.2-877. Overdrafts by bank officer or director
- § 6.2-878. Loans secured by real estate generally
- § 6.2-879. Certain loans not considered loans secured by real estate
- § 6.2-880. Construction loans
- § 6.2-881. Investment in reverse annuity mortgages
- § 6.2-882. Bank borrowing money or rediscounting its notes
- § 6.2-883. Acceptance of drafts or bills of exchange; issuance of letters of credit
- § 6.2-884. Ownership and lease of personal property
- § 6.2-885. Investment in stock or securities of controlled subsidiary corporations
- § 6.2-886. Regulation of controlled subsidiary corporations by Commission
- § 6.2-887. Insurance business of controlled subsidiary
- § 6.2-888. Real estate brokerage business of controlled subsidiary
Article 10. Reserves
- § 6.2-889. Required reserves
- § 6.2-890. Preferences by pledging assets
- § 6.2-891. Perfection of certain security interests
- § 6.2-892. Federal deposit insurance a credit towards certain required bonds
Article 11. Deposit Accounts
- § 6.2-893. Payment of balance of deceased person or person under disability
- § 6.2-894. Deposits in and withdrawals from accounts of convicts
- § 6.2-895. Repealed
- § 6.2-896. Deposits of minors
- § 6.2-897. Bank need not inquire as to fiduciary funds deposited in fiduciary's personal account
Article 12. Examinations and Reports
- § 6.2-898. Examinations
- § 6.2-899. Examination of affiliates
- § 6.2-900. Special examinations
- § 6.2-901. Assistance in making examinations
- § 6.2-902. Notice of examination
- § 6.2-903. Revaluation of assets after examination
- § 6.2-904. Report of examination; inspection and dissemination to directors
- § 6.2-905. Communications to board or executive committee
- § 6.2-906. Disclosure of irregularities; Commission's powers
- § 6.2-907. Reports of condition and other statements
- § 6.2-908. Fees for supervision and regulation and for certain examinations and investigations
- § 6.2-909. Assessment and payment of fees; lien
- § 6.2-910. Reduction of fees
- § 6.2-911. Examination of national banks
Article 13. Receiverships
- § 6.2-912. Definition
- § 6.2-913. Closing bank upon insolvency; appointment of receiver
- § 6.2-914. Merger or transfer of assets of insolvent bank
- § 6.2-915. Protection of state deposits upon insolvency
- § 6.2-916. Appointment of receiver
- § 6.2-917. Execution of powers of sale by receivers
- § 6.2-918. Rights and powers of receivers generally
- § 6.2-919. Interest on deposits; distribution of surplus remaining after payment of depositors
- § 6.2-920. Proceedings to bar certain claims against banks in liquidation
- § 6.2-921. When publication of list of creditors unnecessary
- § 6.2-922. When publication once in two newspapers sufficient
- § 6.2-923. When claims barred
- § 6.2-924. Power of receivers to contract for loans and make investments
Article 14. Appointment of Fdic As Receiver
- § 6.2-925. Definitions
- § 6.2-926. Appointment of FDIC as receiver
- § 6.2-927. Transfer of title to bank assets
- § 6.2-928. Posting of notice; effect of posting notice
- § 6.2-929. Powers of receiver
- § 6.2-930. Emergency sale of assets
- § 6.2-931. Notice and proof of claim; notice of rejection of claim; petition for hearing
- § 6.2-932. Payment of claims filed after prescribed period
- § 6.2-933. Distribution of assets
- § 6.2-934. Receivership procedures involving assets held by closed bank as fiduciary
- § 6.2-935. Termination of executory contracts and leases; liability; extension of statute of limitations
- § 6.2-936. Subrogation to rights of bank depositors
- § 6.2-937. Destruction of records
Article 15. Banking Offenses
- § 6.2-938. Engaging in banking business without authority; Commission may examine accounts of suspected person; penalty
- § 6.2-939. Unlawful use of terms indicating that business is bank; penalty
- § 6.2-940. Making derogatory statements affecting banks; penalty
- § 6.2-941. Use of bank name, logo, or symbol for marketing purposes; penalty
- § 6.2-942. False certification of checks; penalty
- § 6.2-943. Offenses by officer, director, agent, or employee of bank; penalties
- § 6.2-944. Officers, directors, agents, and employees violating or causing bank to violate laws; civil liability not affected
- § 6.2-945. Receiving deposit knowing bank to be insolvent; penalty
- § 6.2-946. Civil penalties for violation of Commission's orders
Article 16. Voluntary Regulatory Self-Assessments
- § 6.2-947. Definitions
- § 6.2-948. Privilege for self-assessment reports
- § 6.2-949. Exceptions from self-evaluation privilege
- § 6.2-950. Effect on other privileges
Article 17. Benefits Consortium
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