Administrative Code

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Virginia Administrative Code
Title 21. Securities And Retail Franchising
Agency 5. State Corporation Commission, Division Of Securities And Retail Franchising
Chapter 20. Broker-Dealers, Broker-Dealer Agents and Agents of the Issuer
11/28/2021

21VAC5-20-320. Clerical or ministerial services.

The phrase "clerical or ministerial services", as used in §§ 13.1-504.1 and 13.1-504.2 of the Act, shall mean any or all of the following:

1. Distributing to customers of the savings and loan association, savings bank or credit union literature that describes the services available from the registered broker-dealer.

2. Providing to customers of the savings and loan association, savings bank or credit union the broker-dealer's account applications and assisting customers in completing such applications.

3. Assisting customers of the savings and loan association, savings bank or credit union in contacting the registered broker-dealer.

4. Assisting customers of the savings and loan association, savings bank or credit union in effecting the transfer of funds into or out of the customers' accounts maintained at such association, bank or credit union.

5. Assisting customers of the savings and loan association, savings bank or credit union in transmitting securities and related documents to the registered broker-dealer, and providing the materials necessary for such transmittal.

Statutory Authority

§ 13.1-523 of the Code of Virginia.

Historical Notes

Derived from Rule 309, Case No. SEC840009, eff. July 2, 1984; amended by Case No. SEC890040, eff. July 1, 1989.

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