{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1012.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1012.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1012.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1012.html"}],"law_id":82343,"edition_id":1,"section_id":82343,"structure_id":14860,"section_number":"6.2-1012","catch_line":"Suspension or prohibition of trust institutions","history":"Code 1950, \u00a7 6-103; 1966, c. 584, \u00a7 6.1-32; 1974, c. 665; 2010, c. 794.","full_text":"The Commission may prohibit or suspend from engaging in trust business any (i) trust company that fails to comply with any of the provisions of \u00a7 6.2-1005, 6.2-1006, or 6.2-1008; (ii) bank doing a trust business that fails to comply with any of the provisions of \u00a7 6.2-821, 6.2-1005, 6.2-1006, or 6.2-1008; or (iii) trust subsidiary that fails to comply with the provisions of \u00a7 6.2-1006 or 6.2-1008.","order_by":null,"text":{"0":{"id":295059,"text":"The Commission may prohibit or suspend from engaging in trust business any (i) trust company that fails to comply with any of the provisions of \u00a7 6.2-1005, 6.2-1006, or 6.2-1008; (ii) bank doing a trust business that fails to comply with any of the provisions of \u00a7 6.2-821, 6.2-1005, 6.2-1006, or 6.2-1008; or (iii) trust subsidiary that fails to comply with the provisions of \u00a7 6.2-1006 or 6.2-1008.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14860,"edition_id":1,"name":"Trust Powers and Trust Business","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13001,"metadata":{},"date_created":"2026-06-26 03:50:27","date_modified":"2026-06-26 03:50:27","permalink":{"id":263689,"object_type":"structure","relational_id":14860,"identifier":"1","token":"6.2\/II\/10\/1","url":"\/6.2\/II\/10\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13001,"edition_id":1,"name":"Entities Conducting Trust Business","identifier":"10","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263687,"object_type":"structure","relational_id":13001,"identifier":"10","token":"6.2\/II\/10","url":"\/6.2\/II\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13000,"edition_id":1,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263685,"object_type":"structure","relational_id":13000,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":61391,"structure_id":14860,"section_number":"6.2-1000","catch_line":"Definitions","url":"\/6.2-1000\/","token":"6.2\/II\/10\/1\/6.2-1000","metadata":false},{"id":62570,"structure_id":14860,"section_number":"6.2-1001","catch_line":"Entities authorized to engage in trust business","url":"\/6.2-1001\/","token":"6.2\/II\/10\/1\/6.2-1001","metadata":false},{"id":58739,"structure_id":14860,"section_number":"6.2-1002","catch_line":"Powers of trust institutions","url":"\/6.2-1002\/","token":"6.2\/II\/10\/1\/6.2-1002","metadata":false},{"id":75287,"structure_id":14860,"section_number":"6.2-1003","catch_line":"When security not required; payment of probate taxes and fees","url":"\/6.2-1003\/","token":"6.2\/II\/10\/1\/6.2-1003","metadata":false},{"id":63080,"structure_id":14860,"section_number":"6.2-1004","catch_line":"Who may take oath for corporate fiduciary","url":"\/6.2-1004\/","token":"6.2\/II\/10\/1\/6.2-1004","metadata":false},{"id":86464,"structure_id":14860,"section_number":"6.2-1005","catch_line":"Deposit or other use of trust funds","url":"\/6.2-1005\/","token":"6.2\/II\/10\/1\/6.2-1005","metadata":false},{"id":63490,"structure_id":14860,"section_number":"6.2-1006","catch_line":"Custody of trust securities to be kept separate; federal securities and obligations","url":"\/6.2-1006\/","token":"6.2\/II\/10\/1\/6.2-1006","metadata":false},{"id":56787,"structure_id":14860,"section_number":"6.2-1007","catch_line":"Investment of trust funds","url":"\/6.2-1007\/","token":"6.2\/II\/10\/1\/6.2-1007","metadata":false},{"id":75720,"structure_id":14860,"section_number":"6.2-1008","catch_line":"Dealings with self or affiliates","url":"\/6.2-1008\/","token":"6.2\/II\/10\/1\/6.2-1008","metadata":false},{"id":83711,"structure_id":14860,"section_number":"6.2-1009","catch_line":"Common trust and collective investment funds","url":"\/6.2-1009\/","token":"6.2\/II\/10\/1\/6.2-1009","metadata":false},{"id":75450,"structure_id":14860,"section_number":"6.2-1010","catch_line":"Holding stock or other securities as fiduciary","url":"\/6.2-1010\/","token":"6.2\/II\/10\/1\/6.2-1010","metadata":false},{"id":57294,"structure_id":14860,"section_number":"6.2-1011","catch_line":"Voting of bank shares held by trust institution as fiduciary; when disqualified","url":"\/6.2-1011\/","token":"6.2\/II\/10\/1\/6.2-1011","metadata":false},{"id":82343,"structure_id":14860,"section_number":"6.2-1012","catch_line":"Suspension or prohibition of trust institutions","url":"\/6.2-1012\/","token":"6.2\/II\/10\/1\/6.2-1012","metadata":false}],"previous_section":{"id":57294,"structure_id":14860,"section_number":"6.2-1011","catch_line":"Voting of bank shares held by trust institution as fiduciary; when disqualified","url":"\/6.2-1011\/","token":"6.2\/II\/10\/1\/6.2-1011","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1012\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1966, chapter 584; in 1974, chapter 665; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"id":86464,"section_number":"6.2-1005","catch_line":"Deposit or other use of trust funds","order_by":null,"url":"\/6.2-1005\/"},{"id":63490,"section_number":"6.2-1006","catch_line":"Custody of trust securities to be kept separate; federal securities and obligations","order_by":null,"url":"\/6.2-1006\/"},{"id":75720,"section_number":"6.2-1008","catch_line":"Dealings with self or affiliates","order_by":null,"url":"\/6.2-1008\/"},{"id":62734,"section_number":"6.2-821","catch_line":"Separation of banking and trust functions; establishment of trust department","order_by":null,"url":"\/6.2-821\/"}],"permalink":{"id":263739,"object_type":"law","relational_id":82343,"identifier":"6.2-1012","token":"6.2\/II\/10\/1\/6.2-1012","url":"\/6.2-1012\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1012\/","token":"6.2\/II\/10\/1\/6.2-1012","dublin_core":{"Title":"Suspension or prohibition of trust institutions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1012","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Commission<\/span> may prohibit or suspend from engaging in trust business<\/span> any (i) trust company<\/span> that fails to comply with any of the provisions of \u00a7 6.2-1005<\/a>, 6.2-1006<\/a>, or 6.2-1008<\/a>; (ii) bank doing a trust business<\/span> that fails to comply with any of the provisions of \u00a7 6.2-821<\/a>, 6.2-1005<\/a>, 6.2-1006<\/a>, or 6.2-1008<\/a>; or (iii) trust subsidiary<\/span> that fails to comply with the provisions of \u00a7 6.2-1006<\/a> or 6.2-1008<\/a>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSUSPENSION OR PROHIBITION OF TRUST INSTITUTIONS (\u00a7 6.2-1012)\n\nThe Commission may prohibit or suspend from engaging in trust business any (i)\ntrust company that fails to comply with any of the provisions of \u00a7 6.2-1005,\n6.2-1006, or 6.2-1008; (ii) bank doing a trust business that fails to comply\nwith any of the provisions of \u00a7 6.2-821, 6.2-1005, 6.2-1006, or 6.2-1008; or\n(iii) trust subsidiary that fails to comply with the provisions of \u00a7 6.2-1006\nor 6.2-1008.\n\nHISTORY: Code 1950, \u00a7 6-103; 1966, c. 584, \u00a7 6.1-32; 1974, c. 665; 2010, c.\n794.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}