§ 6.2-1020 Certain transactions by affiliated trust companies prohibited
An affiliated trust company shall not:
1. During the underwriting period, purchase from an affiliated broker-dealer, for any trust account or for its own account, any security that is being underwritten by that broker-dealer; or
2. Purchase for any trust account or for its own account any security that is issued by a company that owns five percent or more of the capital stock of, or is affiliated with, the affiliated trust company.
History
This law was first created in 1994. The record of its establishment is cataloged in chapter 524 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. It has been modified 2 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 1995, chapter 140; in 2010, chapter 794.
1994, c. 524, § 6.1-32.14:2; 1995, c. 140; 2010, c. 794.