Savings Institutions

  1. Law
  2. Code of Virginia
  3. Financial Institutions and Services
  4. Savings Institutions

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Section
6.2-1100

Definitions

Section
6.2-1101

Construction and application of chapter

Section
6.2-1102

Associations operating share accumulation loan plans; continued operation

Section
6.2-1103

Prohibitions on conduct of savings institution business; exceptions; penalty

Section
6.2-1104

False statements and similar actions prohibited; penalty

Section
6.2-1105

Use of savings institution name, logo, or symbol for marketing purposes; penalty

Section
6.2-1106

Prohibitions on the use of certain terms; exceptions; penalty

Section
6.2-1107

Defamation of savings institutions and certain federal agencies prohibited; penalty

Section
6.2-1108

Membership in Federal Home Loan Bank and Federal Deposit Insurance Corporation authorized; insurance required as a condition to receiving deposits; representations that accounts are insured; misleading advertisements

Section
6.2-1109

Representations that accounts are insured; misleading advertisements

Section
6.2-1110

Membership in facilitating organizations or instrumentalities

Section
6.2-1111

Authority to purchase, convey or manage property in which state savings institution has a security interest; time limitation

Section
6.2-1112

Applicability of Virginia Uniform Commercial Code to commercial paper and depository activities of savings institutions

Section
6.2-1113

Discoverability or admissibility of compliance review committee documents

Section
6.2-1114

Application of Virginia Stock Corporation Act and Virginia Nonstock Corporation Act

Section
6.2-1115

Formation of state savings institutions

Section
6.2-1116

Corporation name

Section
6.2-1117

Par value of shares; payment of shares; reacquisitions of shares or acceptance thereof as security; how subscriptions to stock to be paid; disposition of money received before institution opens; stock option plans

Section
6.2-1118

Certificate of authority to do business

Section
6.2-1119

Commissions and other fees for sale of stock not permitted

Section
6.2-1120

Minimum capital requirement

Section
6.2-1121

Board of directors

Section
6.2-1122

Meetings of board of directors

Section
6.2-1123

Notice of meetings of members; determining members entitled to notice or to vote

Section
6.2-1124

Voting rights; proxies

Section
6.2-1125

Access to books and records; communication with members

Section
6.2-1126

Audit of savings institution; report

Section
6.2-1127

Bonds of officers and employees

Section
6.2-1128

Loans to executive officers or directors

Section
6.2-1129

Overdrafts by savings institution officers, directors or employees

Section
6.2-1130

Reserves; surplus and undivided profits

Section
6.2-1131

Liability of members of mutual savings institutions

Section
6.2-1132

Mutual capital certificates

Section
6.2-1133

Offices and other facilities of state and foreign savings institutions; approval of branch offices required

Section
6.2-1134

Facilities associated with branch office

Section
6.2-1135

Change of branch office location

Section
6.2-1136

Remote service units

Section
6.2-1137

Off premises financial services

Section
6.2-1138

Suspension of business during actual or threatened emergency

Section
6.2-1139

Conversion from mutual savings institution to stock institution

Section
6.2-1140

Reorganization of mutual association into mutual holding company; approval by Commissioner; powers; issuance of stock

Section
6.2-1141

Conversion of state savings institution into federal financial institution

Section
6.2-1142

Conversion of federal financial institution into state savings institution or state bank

Section
6.2-1143

Conversion from state savings bank to state association; conversion from state association to state savings bank

Section
6.2-1144

Conversion from stock savings institution to bank

Section
6.2-1145

Merger or consolidation of savings institutions

Section
6.2-1146

State association or association holding company acquiring bank; association acquired by bank or bank holding company; merger or consolidation of association and bank

Section
6.2-1147

Acquisition of control of state stock institution requires Commission approval

Section
6.2-1148

Definitions

Section
6.2-1149

Foreign savings institutions; certificate of authority

Section
6.2-1150

When operation of foreign savings institution in the Commonwealth is prohibited

Section
6.2-1151

Applicability of Virginia Stock and Nonstock Corporation Acts

Section
6.2-1152

Law applicable to contracts of foreign savings institutions

Section
6.2-1153

Examination and supervision of foreign savings institutions

Section
6.2-1154

Revocation of certificate of authority of foreign savings institution

Section
6.2-1155

Unapproved foreign savings institutions

Section
6.2-1156

Activities that are not considered "doing business."

Section
6.2-1157

Acquisitions by out-of-state savings institution holding company

Section
6.2-1158

Acquisitions by out-of-state savings institution

Section
6.2-1159

Investigation of application; prescribed investigation period; shortening, lengthening or waiving of period; hearing; appeals

Section
6.2-1160

Notice of intent to acquire out-of-state savings institution

Section
6.2-1161

Applicable laws and regulations; enforcement by Commission

Section
6.2-1162

Periodic reports; interstate agreements

Section
6.2-1163

Application of article to bank or bank holding company

Section
6.2-1164

Acquisitions of state savings bank or holding companies by out-of-state financial institutions

Section
6.2-1165

Nonseverability

Section
6.2-1166

Accounts of state savings institutions

Section
6.2-1167

Rules governing withdrawal

Section
6.2-1168

Redemption

Section
6.2-1169

Accounts of savings institutions as legal investments and as security

Section
6.2-1170

Deposits of federal taxes and U.S. Treasury tax and loan accounts

Section
6.2-1171

Accounts under federal Self-Employed Individuals Tax Retirement Act and federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829)

Section
6.2-1172

Accounts issued in name of minor

Section
6.2-1173

Powers of attorney on accounts

Section
6.2-1174

Accounts of deceased or incompetent persons

Section
6.2-1175

Repealed

Section
6.2-1176

Accounts of fiduciaries

Section
6.2-1177

Savings institution need not inquire as to fiduciary funds deposited in fiduciary's personal account

Section
6.2-1178

Accounts held by various trustees for same beneficiary

Section
6.2-1179

Real estate loans; required investment

Section
6.2-1180

Appraisals; loan-to-value ratios

Section
6.2-1181

Initial repayments on real estate loans

Section
6.2-1182

Adjustable real estate loans

Section
6.2-1183

Special provisions for home loans

Section
6.2-1184

Dealing with successors in interest

Section
6.2-1185

Trustees on loans secured by deed of trust

Section
6.2-1186

General investment authority of state savings institutions

Section
6.2-1187

Investment authority of state savings banks

Section
6.2-1188

Effect of repeal or amendment of statute or regulation on existing loan or investment

Section
6.2-1189

Limitation on liability of savings institutions making loans for certain purposes

Section
6.2-1190

Perfection of certain security interests

Section
6.2-1191

General supervisory powers of Commission

Section
6.2-1192

Regulations

Section
6.2-1193

Statements to be furnished by Commission to directors of savings institutions

Section
6.2-1194

State savings institutions to furnish financial statements and reports

Section
6.2-1195

Examination of state savings institutions and affiliates by Commissioner; report of examination

Section
6.2-1196

Access to books and evidence of debt; examination of directors, officers, and employees under oath

Section
6.2-1197

False statements; penalty

Section
6.2-1198

Audits

Section
6.2-1199

Powers of Commission in case of nonobservance of law, noncompliance with orders, insufficient reserves or insolvency; appointment of Federal Deposit Insurance Corporation as receiver

Section
6.2-1200

Removal of director or officer; appeal; penalty for acting after removal

Section
6.2-1201

Special examinations

Section
6.2-1202

Fees for supervision and regulation; investigations

Section
6.2-1203

Examination of persons believed to be doing business without authority; doing business without authority; penalty

Section
6.2-1204

Compliance by savings institution holding companies with federal regulations constitutes compliance with Commission regulations

Section
6.2-1205

Merger, consolidation or transfer of assets of insolvent or financially unstable savings institution; notice and hearing; final order; priorities; examinations of resulting institutions