2018 Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 10 - Entities Conducting Trust Business
§ 6.2-1020. Certain transactions by affiliated trust companies prohibited

Universal Citation: VA Code § 6.2-1020 (2018)

An affiliated trust company shall not:

1. During the underwriting period, purchase from an affiliated broker-dealer, for any trust account or for its own account, any security that is being underwritten by that broker-dealer; or

2. Purchase for any trust account or for its own account any security that is issued by a company that owns five percent or more of the capital stock of, or is affiliated with, the affiliated trust company.

1994, c. 524, ยง 6.1-32.14:2; 1995, c. 140; 2010, c. 794.

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