Chapter 10. Entities Conducting Trust BusinessRead Chapter
- Article 1. Trust Powers and Trust BusinessRead all
- § 6.2-1000
- Definitions
- § 6.2-1001
- Entities authorized to engage in trust business
- § 6.2-1002
- Powers of trust institutions
- § 6.2-1003
- When security not required; payment of probate taxes and fees
- § 6.2-1004
- Who may take oath for corporate fiduciary
- § 6.2-1005
- Deposit or other use of trust funds
- § 6.2-1006
- Custody of trust securities to be kept separate; federal securities and obligations
- § 6.2-1007
- Investment of trust funds
- § 6.2-1008
- Dealings with self or affiliates
- § 6.2-1009
- Common trust and collective investment funds
- § 6.2-1010
- Holding stock or other securities as fiduciary
- § 6.2-1011
- Voting of bank shares held by trust institution as fiduciary; when disqualified
- § 6.2-1012
- Suspension or prohibition of trust institutions
- Article 2. Trust CompaniesRead all
- § 6.2-1013
- Definitions
- § 6.2-1014
- Certificate required
- § 6.2-1015
- Application for certificate; fee
- § 6.2-1016
- Bond required
- § 6.2-1017
- Procedure for granting or denying certificate
- § 6.2-1018
- Minimum capital; state of incorporation; form of entity
- § 6.2-1019
- Issuance of shares; subscriptions to stock; stock option plans
- § 6.2-1020
- Certain transactions by affiliated trust companies prohibited
- § 6.2-1021
- Commissions or fees for sale of stock not permitted
- § 6.2-1022
- Reacquisition of shares; dividends
- § 6.2-1023
- Acquisition of stock; application
- § 6.2-1024
- Restrictions on control, officers and directors
- § 6.2-1025
- Report to Commission of election of director
- § 6.2-1026
- Removal of director or officer; appeals; penalty
- § 6.2-1027
- Bonds required of officers and employees; blanket bond
- § 6.2-1028
- Offices
- § 6.2-1029
- Directors
- § 6.2-1030
- Discount by officer, director, or employee of refused paper
- § 6.2-1031
- Reports
- § 6.2-1032
- Investigations; examinations
- § 6.2-1033
- Fees
- § 6.2-1034
- Regulations
- § 6.2-1035
- Audits
- § 6.2-1036
- Commission's remedial powers
- § 6.2-1037
- Effect of surrender or revocation of certificate
- § 6.2-1038
- Appointment of receiver
- § 6.2-1039
- Engaging in trust business without authority; Commission may examine accounts of suspected person; penalty
- § 6.2-1040
- Unlawful use of terms indicating that business is trust company; penalty
- § 6.2-1041
- Civil penalties for failure to comply with § 6.2-1031 or 6.2-1032
- § 6.2-1042
- Making derogatory statements affecting trust companies; penalty
- § 6.2-1043
- Use of trust company name, logo, or symbol for marketing purposes; penalty
- § 6.2-1044
- Offenses by officer, director, agent or employee of trust company; penalties
- § 6.2-1045
- Officers, directors, agents and employees violating or causing trust company to violate laws; civil liability not affected
- § 6.2-1046
- Civil penalties for violation of Commission's orders
- Article 3. Trust SubsidiariesRead all
- § 6.2-1047
- Definitions
- § 6.2-1048
- Organization of subsidiary trust companies
- § 6.2-1049
- Permissible business
- § 6.2-1050
- Directors
- § 6.2-1051
- Report to Commission of election of director
- § 6.2-1052
- Removal of director or officer; appeals; penalty
- § 6.2-1053
- Bonds required of officers and employees; blanket bond
- § 6.2-1054
- Certificate required
- § 6.2-1055
- Trust offices
- § 6.2-1056
- When security not required of trust subsidiaries
- § 6.2-1057
- Deposits held or received by trust subsidiaries or subsidiary bank with affiliate banks
- § 6.2-1058
- Substitution of trust subsidiary as fiduciary
- § 6.2-1059
- Substitution of subsidiary bank as fiduciary
- § 6.2-1060
- Trust subsidiaries to have same powers and restrictions as bank trust departments
- § 6.2-1061
- Reports; investigations and examinations; civil penalties
- § 6.2-1062
- Offenses by officer, director, agent or employee of trust subsidiary; penalties
- § 6.2-1063
- Officers, directors, agents and employees violating or causing trust subsidiary to violate laws; civil liability not affected
- § 6.2-1064
- Civil penalties for violation of Commission's orders
- Article 4. Multistate Trust InstitutionsRead all
- § 6.2-1065
- Definitions
- § 6.2-1066
- Interstate trust offices by Virginia state banks
- § 6.2-1067
- Trust business of out-of-state trust institution
- § 6.2-1068
- Establishing or acquiring an interstate trust office; additional trust offices; notice of closure
- § 6.2-1069
- Filing requirements
- § 6.2-1070
- Conditions for approval
- § 6.2-1071
- Examinations; periodic reports; cooperative agreements; assessment of fees
- § 6.2-1072
- Enforcement
- § 6.2-1073
- Regulations; fees
- Article 5. Private Trust CompaniesRead all
- § 6.2-1074
- Definitions
- § 6.2-1075
- Organization; minimum capital; notice to Bureau; control
- § 6.2-1076
- Operation and powers
- § 6.2-1077
- Reacquisition of shares or interests; dividends
- § 6.2-1078
- Offices
- § 6.2-1079
- Directors or managers
- § 6.2-1080
- Limitation on powers
- Article 6. Trust Powers of Savings InstitutionsRead all
- § 6.2-1081
- Definitions
- § 6.2-1082
- Applications for permission to offer trust services
- § 6.2-1083
- Commission to issue certificate; powers of associations authorized to offer trust services
- § 6.2-1084
- Continuation of trust powers in the event of consolidation or merger of two or more associations
- § 6.2-1085
- When security not required
- § 6.2-1086
- Association's operation and supervision of trust department
- § 6.2-1087
- Books and accounts
- § 6.2-1088
- Investment of funds and assets held as fiduciary
- § 6.2-1089
- Funds awaiting investment or distribution
- § 6.2-1090
- Dealings with self or affiliates
- § 6.2-1091
- Voting of financial institution stock held by association as fiduciary; when association disqualified from voting
- § 6.2-1092
- Transactions between trust accounts
- § 6.2-1093
- Custody of assets and investments held in trust
- § 6.2-1094
- Establishment of common trust funds and collective investment funds; court accountings
- § 6.2-1095
- Compensation of association acting as fiduciary
- § 6.2-1096
- Surrender of trust powers by association
- § 6.2-1097
- Effect on trust accounts of appointment of receiver for association or of voluntary dissolution of association
- § 6.2-1098
- Revocation of trust powers
- § 6.2-1099
- Trust powers of state savings banks
