Code of Virginia

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Code of Virginia
Title 6.2. Financial Institutions and Services
12/6/2019

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 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 under common ownership 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 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