6.2-1066 - (Effective October 1, 2010) Interstate trust offices by Virginia state banks.
§ 6.2-1066. (Effective October 1, 2010) Interstate trust offices by Virginiastate banks.
A. With the prior approval of the Commission, any Virginia state bank orstate trust company may establish a new trust office or acquire a trustoffice in a state other than the Commonwealth.
B. A Virginia state bank or state trust company desiring to establish andmaintain a trust office in another state under this section shall file anapplication or notice on a form prescribed by the Commission and pay thebranch application fee set forth in subdivision B 3 of § 6.2-908. If theCommission finds that the applicant has the financial resources sufficient toundertake the proposed expansion without adversely affecting its soundnessand that the laws of the host state permit the establishment of the trustoffice, it may approve the application. In acting on the application, theCommission shall consider the views of the state bank supervisor of the hoststate where the trust office is proposed to be located.
(1999, c. 835, § 6.1-32.33; 2010, c. 794.)