6.1-32.32 - (Repealed effective October 1, 2010) Definitions.
§ 6.1-32.32. (Repealed effective October 1, 2010) Definitions.
As used in this article, unless the context requires otherwise:
"Acquisition of a trust office" means the acquisition of a trust officelocated in a host state, without acquiring the trust institution of suchoffice.
"Bank" has the meaning set forth in 12 U.S.C. § 1813 (h).
"Bank supervisory agency" means: (i) any agency of another state withprimary responsibility for chartering and supervising a trust institution and(ii) the Office of the Comptroller of the Currency, the Federal DepositInsurance Corporation, or the Board of Governors of the Federal ReserveSystem and any successor to these agencies.
"Commission" means the State Corporation Commission of the Commonwealth ofVirginia.
"Company" includes a bank, trust company, corporation, limited liabilitycompany, partnership, association, business trust, or another trust.
"Home state" means (i) with respect to a federally chartered trustinstitution, the state in which such institution maintains its principaloffice and (ii) with respect to any other trust institution, the state whichchartered such institution.
"Home state regulator" means the bank supervisory agency with primaryresponsibility for chartering and supervising an out-of-state trustinstitution.
"Host state" means a state, other than the home state of a trustinstitution, in which the trust institution maintains or seeks to acquire orestablish an office.
"New trust office" means a trust office located in a host state which (i)is originally established by the trust institution as a trust office and (ii)does not become a trust office of the trust institution as a result of (a)the acquisition of another trust institution or trust office of another trustinstitution or (b) a merger, consolidation, or conversion involving any suchtrust institution or trust office.
"Office" with respect to a trust institution means the principal office ora trust office, but not a branch.
"Out-of-state bank" means a bank chartered to act as a fiduciary whose homestate is a state other than Virginia.
"Out-of-state trust company" means a trust company whose home state is astate other than Virginia.
"Out-of-state trust institution" means a trust institution whose home stateis a state other than Virginia.
"Principal office" with respect to (i) a state trust company, means alocation so designated by such trust company pursuant to § 6.1-32.21 of theVirginia Trust Company Act or § 6.1-32.2 of the Virginia Trust Subsidiary Actor (ii) a trust institution other than a state trust company, means itsprincipal place of business in the United States.
"State" means any of the United States, the District of Columbia, anyterritory of the United States, Puerto Rico, Guam, American Samoa, the TrustTerritory of the Pacific Islands, the Virgin Islands and the Northern MarianaIslands.
"State bank" or "Virginia state bank" means a bank chartered under thelaws of Virginia and permitted to engage in the trust business pursuant to §6.1-16 of the Virginia Banking Act.
"State trust company" means a corporation organized or reorganized underthe Virginia Trust Subsidiary Act (§ 6.1-32.1 et seq.) or the Virginia TrustCompany Act (§ 6.1-32.11 et seq.).
"State trust institution" means a trust institution having its principaloffice in this Commonwealth.
"Trust business" shall have the same meaning assigned to that term in §§6.1-32.11 and 6.1-32.12 of the Virginia Trust Company Act.
"Trust company" means a state trust company or any other company charteredto act as a fiduciary that is not a bank.
"Trust institution" means a bank or trust company chartered by a state banksupervisory agency or by the Office of the Comptroller of Currency.
"Trust office" means an office at which a trust institution engages in atrust business and not in the banking business.
(1999, c. 835.)