6.1-112 - (Repealed effective October 1, 2010) Unlawful use of terms indicating that business is bank, trust company, etc.; penalty.
§ 6.1-112. (Repealed effective October 1, 2010) Unlawful use of termsindicating that business is bank, trust company, etc.; penalty.
A. No person, entity or organization not authorized to engage in the bankingbusiness or trust business in this Commonwealth by the provisions of thistitle or under the laws of the United States, or a business trust, shall (i)use any office sign having thereon any name or other words indicating thatany such office is the office of a bank or trust company; (ii) use orcirculate any letterheads, billheads, blank notes, blank receipts,certificates, circulars or any written or printed paper whatever, havingthereon any name or word indicating that such person, entity or organizationis a bank or trust company; or (iii) use the word "bank," "banking,""banker," or "trust" or the equivalent thereof in any foreign language,or the plural thereof in connection with any business other than a banking ortrust business.
B. The foregoing prohibitions shall not apply to use by a bank holdingcompany, as defined in § 6.1-47, of the word "bank," "banks,""banking," "banker," "trust" or the equivalent thereof in its name, orof a name similar to that of a subsidiary bank of such bank holding company.
C. The use of the above-mentioned words in the name of, or in connectionwith, any other business shall not be prohibited if the context or remainingwords show clearly and definitely that the business is not a bank or trustcompany, and is not carrying on a banking or trust business.
D. Any person, entity or organization violating the provisions of thissection, either individually or as an interested party, shall be guilty of aClass 6 felony.
(Code 1950, § 6-134; 1966, c. 584; 1972, c. 187; 1992, cc. 24, 136; 2000, c.56; 2003, c. 592.)