Chapter 8. BanksRead Chapter
- Article 1. General ProvisionsRead all
- § 6.2-800
- Definitions
- § 6.2-801
- Application of chapter
- § 6.2-802
- Effect of chapter on certain banks
- § 6.2-803
- Entities authorized to engage in banking business
- § 6.2-804
- Amendment of powers of state banks by regulation of the Commission
- § 6.2-805
- Commission authorized to confer on state banks power to make charges comparable to those permitted to national banking associations
- § 6.2-806
- Saturday closing of banks
- § 6.2-807
- Discoverability or admissibility of compliance review committee documents
- Article 2. Incorporation and PowersRead all
- § 6.2-808
- Incorporation; corporate powers
- § 6.2-809
- Bankers' banks
- § 6.2-810
- Effect of chapter on charter powers
- § 6.2-811
- Membership in Federal Reserve Bank System or Federal Home Loan Bank System
- § 6.2-812
- Inspection of records, reports, and information of insured banks
- § 6.2-813
- Participation by banks in school thrift or savings plans
- § 6.2-814
- Powers of banks
- § 6.2-815
- Suspension of business during emergency
- § 6.2-816
- Banks to obtain certificate of authority
- § 6.2-817
- Capital stock subscriptions
- § 6.2-818
- Repealed
- § 6.2-818.1
- Virtual currency custody services by banks
- Article 3. Conduct of Trust Business by BanksRead all
- Article 4. Bank Mergers and ConversionsRead all
- § 6.2-822
- Merger and share exchange by state banks
- § 6.2-823
- Conversion of national banking association to state bank; certificate of authority
- § 6.2-824
- Status of converted bank
- § 6.2-825
- State bank becoming national bank; notice required; effect on liabilities
- § 6.2-826
- Effect of conversion of state bank to national bank
- § 6.2-827
- Rights of national bank stockholders dissenting from conversion
- § 6.2-828
- Conversion of state bank to federal savings institution
- § 6.2-829
- Conversion from state savings bank to state bank; conversion from state bank to state savings bank
- § 6.2-830
- Conversion from stock association to bank; conversion from bank to stock association
- Article 5. Branches and FacilitiesRead all
- § 6.2-831
- Establishment of branch banks; redesignation of main office
- § 6.2-832
- Establishment of automated teller machines and electronic terminals
- § 6.2-833
- Bank agent for depository institution
- § 6.2-834
- Operation of branch office under different name; civil penalty
- § 6.2-835
- Banking facilities in certain hospitals or federal areas
- Article 6. Interstate BranchingRead all
- § 6.2-836
- Definitions
- § 6.2-837
- Interstate branching by Virginia state banks
- § 6.2-838
- Interstate branching
- § 6.2-839
- Interstate branching through the acquisition of a branch
- § 6.2-840
- Filing requirements
- § 6.2-841
- Repealed
- § 6.2-842
- Powers
- § 6.2-843
- Examination; periodic reports; cooperative agreements; assessment of fees
- § 6.2-844
- Enforcement
- § 6.2-845
- Additional branches
- § 6.2-846
- Regulations; fees
- § 6.2-847
- Notice of subsequent merger or other transaction
- § 6.2-848
- Repealed
- Article 7. Interstate Bank MergersRead all
- § 6.2-849
- Definitions
- § 6.2-850
- Authority to branch outside the Commonwealth by merger
- § 6.2-851
- Interstate merger transactions and branching permitted
- § 6.2-852
- Filing requirements
- § 6.2-853
- Conditions for interstate merger
- § 6.2-854
- Powers
- § 6.2-855
- Examinations and periodic reports
- § 6.2-856
- Cooperative agreements; assessment of fees
- § 6.2-857
- Enforcement
- § 6.2-858
- Regulations; fees
- § 6.2-859
- Notice of subsequent merger
- Article 8. Directors and Officers; DividendsRead all
- § 6.2-860
- Bank to be managed by board of directors; number of directors
- § 6.2-861
- Application of Virginia Stock Corporation Act
- § 6.2-862
- Directors to own stock in bank
- § 6.2-863
- Oaths of directors
- § 6.2-864
- Report to Commission of election of director
- § 6.2-865
- Removal of director or officer; appeals; penalty
- § 6.2-866
- Meetings of board of directors
- § 6.2-867
- Discount by officer, director, or employee of paper refused by bank
- § 6.2-868
- Bonds required of officers and employees; blanket bond
- § 6.2-869
- Dividends; surplus; undivided profits
- Article 9. Investments and LoansRead all
- § 6.2-870
- Limitation of amount invested in bank premises
- § 6.2-871
- Investment in stock or securities of bank service corporations
- § 6.2-872
- For what purpose banks may purchase, hold, and convey real estate
- § 6.2-873
- Additional permissible investments in real estate
- § 6.2-874
- Prohibited uses of bank's own stock; other investments or loans
- § 6.2-875
- Limitations on obligations of borrowers
- § 6.2-876
- Loans to executive officers or directors
- § 6.2-877
- Overdrafts by bank officer or director
- § 6.2-878
- Loans secured by real estate generally
- § 6.2-879
- Certain loans not considered loans secured by real estate
- § 6.2-880
- Construction loans
- § 6.2-881
- Investment in reverse annuity mortgages
- § 6.2-882
- Bank borrowing money or rediscounting its notes
- § 6.2-883
- Acceptance of drafts or bills of exchange; issuance of letters of credit
- § 6.2-884
- Ownership and lease of personal property
- § 6.2-885
- Investment in stock or securities of controlled subsidiary corporations
- § 6.2-886
- Regulation of controlled subsidiary corporations by Commission
- § 6.2-887
- Insurance business of controlled subsidiary
- § 6.2-888
- Real estate brokerage business of controlled subsidiary
- Article 10. ReservesRead all
- Article 11. Deposit AccountsRead all
- Article 12. Examinations and ReportsRead all
- § 6.2-898
- Examinations
- § 6.2-899
- Examination of affiliates
- § 6.2-900
- Special examinations
- § 6.2-901
- Assistance in making examinations
- § 6.2-902
- Notice of examination
- § 6.2-903
- Revaluation of assets after examination
- § 6.2-904
- Report of examination; inspection and dissemination to directors
- § 6.2-905
- Communications to board or executive committee
- § 6.2-906
- Disclosure of irregularities; Commission's powers
- § 6.2-907
- Reports of condition and other statements
- § 6.2-908
- Fees for supervision and regulation and for certain examinations and investigations
- § 6.2-909
- Assessment and payment of fees; lien
- § 6.2-910
- Reduction of fees
- § 6.2-911
- Examination of national banks
- Article 13. ReceivershipsRead all
- § 6.2-912
- Definition
- § 6.2-913
- Closing bank; appointment of receiver
- § 6.2-914
- Merger or transfer of assets of insolvent bank
- § 6.2-915
- Protection of state deposits upon insolvency
- § 6.2-916
- Appointment of receiver
- § 6.2-917
- Execution of powers of sale by receivers
- § 6.2-918
- Rights and powers of receivers generally
- § 6.2-919
- Interest on deposits; distribution of surplus remaining after payment of depositors
- § 6.2-920
- Proceedings to bar certain claims against banks in liquidation
- § 6.2-921
- When publication of list of creditors unnecessary
- § 6.2-922
- When publication once in two newspapers sufficient
- § 6.2-923
- When claims barred
- § 6.2-924
- Power of receivers to contract for loans and make investments
- Article 14. Appointment of FDIC As ReceiverRead all
- § 6.2-925
- Definitions
- § 6.2-926
- Appointment of FDIC as receiver
- § 6.2-927
- Transfer of title to bank assets
- § 6.2-928
- Posting of notice; effect of posting notice
- § 6.2-929
- Powers of receiver
- § 6.2-930
- Emergency sale of assets
- § 6.2-931
- Notice and proof of claim; notice of rejection of claim; petition for hearing
- § 6.2-932
- Payment of claims filed after prescribed period
- § 6.2-933
- Distribution of assets
- § 6.2-934
- Receivership procedures involving assets held by closed bank as fiduciary
- § 6.2-935
- Termination of executory contracts and leases; liability; extension of statute of limitations
- § 6.2-936
- Subrogation to rights of bank depositors
- § 6.2-937
- Destruction of records
- Article 15. Banking OffensesRead all
- § 6.2-938
- Engaging in banking business without authority; Commission may examine accounts of suspected person; penalty
- § 6.2-939
- Unlawful use of terms indicating that business is bank; penalty
- § 6.2-940
- Making derogatory statements affecting banks; penalty
- § 6.2-941
- Use of bank name, logo, or symbol for marketing purposes; penalty
- § 6.2-942
- False certification of checks; penalty
- § 6.2-943
- Offenses by officer, director, agent, or employee of bank; penalties
- § 6.2-944
- Officers, directors, agents, and employees violating or causing bank to violate laws; civil liability not affected
- § 6.2-945
- Receiving deposit knowing bank to be insolvent; penalty
- § 6.2-946
- Civil penalties for violation of Commission's orders
- Article 16. Voluntary Regulatory Self-AssessmentsRead all
