6.2-807 - (Effective October 1, 2010) Discoverability or admissibility of compliance review committee documents.
§ 6.2-807. (Effective October 1, 2010) Discoverability or admissibility ofcompliance review committee documents.
A. As used in this section, "compliance review committee" means a committeeappointed by the board of directors of a bank for the purpose of evaluatingand improving the bank's compliance with federal and state laws and adherenceto its own established ethical and financial standards, and includes anyother person when that person acts in an investigatory capacity at thedirection of a compliance review committee.
B. Any records, reports, or other documents created by a compliance reviewcommittee are confidential and shall not be discoverable or admissible inevidence in any civil action unless, upon motion, the trial court determinesin its discretion that there has been an abuse of the provisions of thissection.
C. Any records, reports, or other documents produced by a compliance reviewcommittee and delivered to a federal or state governmental agency remainconfidential and shall not be discoverable or admissible in evidence in anycivil action, except to the extent that applicable law provides that suchrecords, reports or other documents are not protected from disclosure.
D. In no event shall the existence of or any action by a compliance reviewcommittee serve as a basis or justification for delay of, or limit upon, thediscovery process set forth in state or federal rules.
E. The work product created by any person acting in an investigatory capacityat the direction of a compliance review committee prior to his participationin the work of the compliance review committee or at the direction of thecompliance review committee shall be subject to the rules governing discoveryin accordance with the Rules of the Virginia Supreme Court.
F. This section shall not be construed to limit the discovery oradmissibility:
1. In any civil action of any records, reports or other documents that arenot created by a compliance review committee; or
2. Of any factual information which may be reviewed by a compliance reviewcommittee.
(1994, c. 201, §§ 6.1-2.16, 6.1-2.17, 6.1-2.18; 2010, c. 794.)