Administrative Code

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Virginia Administrative Code
Title 10. Finance And Financial Institutions
Agency 5. State Corporation Commission
Chapter 50. Industrial Loan Associations

10VAC5-50-10. Disclosure on debt instruments; minimum amount and maturity.

No bond, debenture, or other evidence of debt, however described, shall be offered, nor shall any such instrument be issued for offer to the general public by advertisement or solicitation, unless such instrument states on its face in a prominent manner the words:

"This instrument is not a deposit. It is not insured or guaranteed by any governmental agency or private insurance company."

No such evidence of debt shall mature less than one year from its issuance, nor shall any such instrument be issued for an amount less than $1,000.

Statutory Authority

§ 6.2-1404 of the Code of Virginia.

Historical Notes

Derived from VR225-01-0501, eff. February 6, 1975.

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