§ 6.2-946 Civil penalties for violation of Commission’s orders
A. The Commission may impose, enter judgment for, and enforce by its process, a civil penalty not exceeding $10,000 upon any bank, or against any of its directors, officers, or employees, who it determines, in proceedings commenced in accordance with the Commission’s Rules, has violated any lawful order of the Commission.
B. The Commission may remove from office any director or officer of a bank for a second or subsequent violation by him of any such order.
C. In all cases the defendant shall have an opportunity to be heard and to introduce evidence, and the right to appeal as provided by law.
History
This law was first created in 1968. The record of its establishment is cataloged in chapter 791 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1968 “Acts” aren’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1974, chapter 665; in 1976, chapter 658; in 2010, chapter 794.
1968, c. 791, § 6.1-125; 1974, c. 665; 1976, c. 658; 2010, c. 794.