§ 6.2-836 Definitions
As used in this article, unless a different meaning is required: “Acquisition of a branch” means the acquisition of a branch located in a host state, without acquiring the bank of such branch. “Affiliate” has the meaning assigned to it in 12 U.S.C. § 1841 (k) of the Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), as amended. “Bank” has the meaning assigned to it in 12 U.S.C. § 1813 (a) (1) of the Federal Deposit Insurance Company Act of 1956 (12 U.S.C. § 1811 et seq.), as amended. “Bank holding company” has the meaning assigned to it in 12 U.S.C. § 1841 (a) of the Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), as amended. “Commercial activities” means activities in which a bank holding company, a financial holding company, a national bank, or a national bank financial subsidiary may not engage under federal law. “De novo branch” means a branch of a bank located in a host state which (i) is originally established by the bank as a branch and (ii) does not become a branch of the bank as a result of the acquisition of another bank or a branch of another bank, or the merger, consolidation, or conversion of any such bank or branch. “Financial holding company” has the meaning assigned to it in 12 U.S.C. § 1841 (p) of the Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), as amended. “Home state” means:
1. With respect to a national bank, the state in which the main office of the bank is located;
2. With respect to a state bank, the state by which the bank is chartered;
3. With respect to a foreign bank, the state determined to be the home state of such foreign bank under 12 U.S.C. § 3103 (c). “Host state” means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch. “Out-of-state bank” means a bank whose home state is a state other than the Commonwealth. “Out-of-state state bank” means a bank chartered under the laws of any state other than the Commonwealth. “Virginia state bank” means a bank chartered under the laws of Virginia.
History
This law was first created in 1995. The record of its establishment is cataloged in chapter 301 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 2007, chapter 1; in 2010, chapter 794.
1995, c. 301, § 6.1-44.2; 2007, c. 1; 2010, c. 794.