Administrative Code

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Virginia Administrative Code
Title 10. Finance and Financial Institutions
Agency 5. State Corporation Commission
Chapter 140. Financial Service Center Banks
2/16/2019

10VAC5-140-30. Compliance with Statutory Conditions.

Whenever the Bureau has reason to believe that any financial service center bank or any holding company controlling such a bank is failing to comply with any condition prescribed by law for the operation of such banks, it shall seek a rule to show cause why the sanctions set forth in § 6.1-396 of the Code of Virginia ought not to be imposed. All such proceedings shall be governed by the appropriate provisions of the State Corporation Commission's Rules of Practice and Procedure (5VAC5-20).

Statutory Authority

§§ 6.1-393 and 6.1-395 of the Code of Virginia.

Historical Notes

Derived from VR225-01-1401 §III, eff. July 1, 1983; amended July 1, 1988.

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