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2018 Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 11 - Savings Institutions
§ 6.2-1147. Acquisition of control of state stock institution requires Commission approval
Universal Citation: VA Code § 6.2-1147 (2018)
No person, whether acting alone or in concert with others, shall acquire ownership or control of 25 percent or more of the voting shares of a state stock savings institution, or otherwise control the election of a majority of the directors of such institution, without the approval of the Commission. The Commission shall not approve the proposed acquisition unless the Commission determines that the proposed acquisition is in the public interest.
1985, c. 425, § 6.1-194.87; 1990, c. 3; 1991, c. 230, § 6.1-194.152; 1996, c. 16; 2010, c. 794.
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