6.1-44.22 - (Repealed effective October 1, 2010) Examination; periodic reports; cooperative agreements; assessment of fees.
§ 6.1-44.22. (Repealed effective October 1, 2010) Examination; periodicreports; cooperative agreements; assessment of fees.
A. The Commission may make such examinations of any branch of an out-of-statestate bank located in Virginia as the Commission may deem necessary todetermine whether the branch is operating in compliance with the laws of thisCommonwealth and to ensure that the branch is being operated in a safe andsound manner. The provisions of § 6.1-87 shall apply to such examinations.
B. The Commission may require periodic reports from any out-of-state bankthat maintains a branch in Virginia to the extent such reporting requirements(i) apply equally to similarly situated banks having Virginia as their homestate and (ii) are not preempted by federal law. Such reports shall be filedunder oath with such frequency and in such scope and detail as may beappropriate for the purpose of assuring continuing compliance with theprovisions of this article.
C. The Commission may enter into cooperative agreements with the appropriatestate bank supervisors and federal banking agencies for the examination ofany branch in Virginia of an out-of-state state bank, or any branch of aVirginia state bank in any host state, and may accept such agencies' reportsof examination and reports of investigation in lieu of conducting its ownexaminations or investigations. The Commission may enter into joint actionswith other state bank supervisors and federal banking agencies havingconcurrent jurisdiction over any branch of an out-of-state state bank or anybranch of a Virginia state bank, or may take such actions independently tocarry out its responsibilities under this article and to assure compliancewith the laws of this Commonwealth.
D. Out-of-state state banks may be assessed and, if assessed, shall paysupervisory and examination fees in accordance with the laws of thisCommonwealth and regulations of the Commission. Such fees may be shared withother state and federal regulators in accordance with agreements between themand the Commission.
(1995, c. 301.)