{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1028.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1028.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1028.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1028.html"}],"law_id":70732,"edition_id":1,"section_id":70732,"structure_id":13002,"section_number":"6.2-1028","catch_line":"Offices","history":"1993, c. 432, \u00a7 6.1-32.21; 1997, c. 51; 2010, c. 794.","full_text":"A\n\nWhen satisfied that the public interest, as defined in subdivision 8 of \u00a7 6.2-1017, will be served, the Commission may authorize:1\n\nA trust company having paid-up and unimpaired capital and surplus in an amount deemed sufficient to warrant expansion to establish additional offices; and2\n\nThe relocation of any office.B\n\nThe office at which a trust company begins business shall be designated initially as its principal office. The board of directors of a trust company may thereafter redesignate as the principal office another authorized office of the trust company in the Commonwealth. The trust company shall notify the Commission of any such redesignation not later than 30 days before its effective date and shall confirm to the Commission any redesignation within 10 days of its occurrence.","order_by":null,"text":{"0":{"id":255159,"text":"When satisfied that the public interest, as defined in subdivision 8 of \u00a7 6.2-1017, will be served, the Commission may authorize:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":255160,"text":"A trust company having paid-up and unimpaired capital and surplus in an amount deemed sufficient to warrant expansion to establish additional offices; and","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":255161,"text":"The relocation of any office.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"B"},"3":{"id":255162,"text":"The office at which a trust company begins business shall be designated initially as its principal office. The board of directors of a trust company may thereafter redesignate as the principal office another authorized office of the trust company in the Commonwealth. The trust company shall notify the Commission of any such redesignation not later than 30 days before its effective date and shall confirm to the Commission any redesignation within 10 days of its occurrence.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A2"}},"ancestry":[{"id":13002,"edition_id":1,"name":"Trust Companies","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13001,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263743,"object_type":"structure","relational_id":13002,"identifier":"2","token":"6.2\/II\/10\/2","url":"\/6.2\/II\/10\/2\/","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":64748,"structure_id":13002,"section_number":"6.2-1013","catch_line":"Definitions","url":"\/6.2-1013\/","token":"6.2\/II\/10\/2\/6.2-1013","metadata":false},{"id":64030,"structure_id":13002,"section_number":"6.2-1014","catch_line":"Certificate required","url":"\/6.2-1014\/","token":"6.2\/II\/10\/2\/6.2-1014","metadata":false},{"id":69346,"structure_id":13002,"section_number":"6.2-1015","catch_line":"Application for certificate; fee","url":"\/6.2-1015\/","token":"6.2\/II\/10\/2\/6.2-1015","metadata":false},{"id":69552,"structure_id":13002,"section_number":"6.2-1016","catch_line":"Bond required","url":"\/6.2-1016\/","token":"6.2\/II\/10\/2\/6.2-1016","metadata":false},{"id":81700,"structure_id":13002,"section_number":"6.2-1017","catch_line":"Procedure for granting or denying certificate","url":"\/6.2-1017\/","token":"6.2\/II\/10\/2\/6.2-1017","metadata":false},{"id":87352,"structure_id":13002,"section_number":"6.2-1018","catch_line":"Minimum capital; state of incorporation; form of entity","url":"\/6.2-1018\/","token":"6.2\/II\/10\/2\/6.2-1018","metadata":false},{"id":70627,"structure_id":13002,"section_number":"6.2-1019","catch_line":"Issuance of shares; subscriptions to stock; stock option plans","url":"\/6.2-1019\/","token":"6.2\/II\/10\/2\/6.2-1019","metadata":false},{"id":72448,"structure_id":13002,"section_number":"6.2-1020","catch_line":"Certain transactions by affiliated trust companies prohibited","url":"\/6.2-1020\/","token":"6.2\/II\/10\/2\/6.2-1020","metadata":false},{"id":71728,"structure_id":13002,"section_number":"6.2-1021","catch_line":"Commissions or fees for sale of stock not permitted","url":"\/6.2-1021\/","token":"6.2\/II\/10\/2\/6.2-1021","metadata":false},{"id":84840,"structure_id":13002,"section_number":"6.2-1022","catch_line":"Reacquisition of shares; dividends","url":"\/6.2-1022\/","token":"6.2\/II\/10\/2\/6.2-1022","metadata":false},{"id":63794,"structure_id":13002,"section_number":"6.2-1023","catch_line":"Acquisition of stock; application","url":"\/6.2-1023\/","token":"6.2\/II\/10\/2\/6.2-1023","metadata":false},{"id":67642,"structure_id":13002,"section_number":"6.2-1024","catch_line":"Restrictions on control, officers and directors","url":"\/6.2-1024\/","token":"6.2\/II\/10\/2\/6.2-1024","metadata":false},{"id":80043,"structure_id":13002,"section_number":"6.2-1025","catch_line":"Report to Commission of election of director","url":"\/6.2-1025\/","token":"6.2\/II\/10\/2\/6.2-1025","metadata":false},{"id":54076,"structure_id":13002,"section_number":"6.2-1026","catch_line":"Removal of director or officer; appeals; penalty","url":"\/6.2-1026\/","token":"6.2\/II\/10\/2\/6.2-1026","metadata":false},{"id":64819,"structure_id":13002,"section_number":"6.2-1027","catch_line":"Bonds required of officers and employees; blanket bond","url":"\/6.2-1027\/","token":"6.2\/II\/10\/2\/6.2-1027","metadata":false},{"id":70732,"structure_id":13002,"section_number":"6.2-1028","catch_line":"Offices","url":"\/6.2-1028\/","token":"6.2\/II\/10\/2\/6.2-1028","metadata":false},{"id":56519,"structure_id":13002,"section_number":"6.2-1029","catch_line":"Directors","url":"\/6.2-1029\/","token":"6.2\/II\/10\/2\/6.2-1029","metadata":false},{"id":77730,"structure_id":13002,"section_number":"6.2-1030","catch_line":"Discount by officer, director, or employee of refused paper","url":"\/6.2-1030\/","token":"6.2\/II\/10\/2\/6.2-1030","metadata":false},{"id":61329,"structure_id":13002,"section_number":"6.2-1031","catch_line":"Reports","url":"\/6.2-1031\/","token":"6.2\/II\/10\/2\/6.2-1031","metadata":false},{"id":72585,"structure_id":13002,"section_number":"6.2-1032","catch_line":"Investigations; examinations","url":"\/6.2-1032\/","token":"6.2\/II\/10\/2\/6.2-1032","metadata":false},{"id":63765,"structure_id":13002,"section_number":"6.2-1033","catch_line":"Fees","url":"\/6.2-1033\/","token":"6.2\/II\/10\/2\/6.2-1033","metadata":false},{"id":71760,"structure_id":13002,"section_number":"6.2-1034","catch_line":"Regulations","url":"\/6.2-1034\/","token":"6.2\/II\/10\/2\/6.2-1034","metadata":false},{"id":83326,"structure_id":13002,"section_number":"6.2-1035","catch_line":"Audits","url":"\/6.2-1035\/","token":"6.2\/II\/10\/2\/6.2-1035","metadata":false},{"id":73963,"structure_id":13002,"section_number":"6.2-1036","catch_line":"Commission's remedial powers","url":"\/6.2-1036\/","token":"6.2\/II\/10\/2\/6.2-1036","metadata":false},{"id":78286,"structure_id":13002,"section_number":"6.2-1037","catch_line":"Effect of surrender or revocation of certificate","url":"\/6.2-1037\/","token":"6.2\/II\/10\/2\/6.2-1037","metadata":false},{"id":67670,"structure_id":13002,"section_number":"6.2-1038","catch_line":"Appointment of receiver","url":"\/6.2-1038\/","token":"6.2\/II\/10\/2\/6.2-1038","metadata":false},{"id":61667,"structure_id":13002,"section_number":"6.2-1039","catch_line":"Engaging in trust business without authority; Commission may examine accounts of suspected person; penalty","url":"\/6.2-1039\/","token":"6.2\/II\/10\/2\/6.2-1039","metadata":false},{"id":84279,"structure_id":13002,"section_number":"6.2-1040","catch_line":"Unlawful use of terms indicating that business is trust company; penalty","url":"\/6.2-1040\/","token":"6.2\/II\/10\/2\/6.2-1040","metadata":false},{"id":65125,"structure_id":13002,"section_number":"6.2-1041","catch_line":"Civil penalties for failure to comply with \u00a7 6.2-1031 or 6.2-1032","url":"\/6.2-1041\/","token":"6.2\/II\/10\/2\/6.2-1041","metadata":false},{"id":73588,"structure_id":13002,"section_number":"6.2-1042","catch_line":"Making derogatory statements affecting trust companies; penalty","url":"\/6.2-1042\/","token":"6.2\/II\/10\/2\/6.2-1042","metadata":false},{"id":86658,"structure_id":13002,"section_number":"6.2-1043","catch_line":"Use of trust company name, logo, or symbol for marketing purposes; penalty","url":"\/6.2-1043\/","token":"6.2\/II\/10\/2\/6.2-1043","metadata":false},{"id":64372,"structure_id":13002,"section_number":"6.2-1044","catch_line":"Offenses by officer, director, agent or employee of trust company; penalties","url":"\/6.2-1044\/","token":"6.2\/II\/10\/2\/6.2-1044","metadata":false},{"id":62328,"structure_id":13002,"section_number":"6.2-1045","catch_line":"Officers, directors, agents and employees violating or causing trust company to violate laws; civil liability not affected","url":"\/6.2-1045\/","token":"6.2\/II\/10\/2\/6.2-1045","metadata":false},{"id":77473,"structure_id":13002,"section_number":"6.2-1046","catch_line":"Civil penalties for violation of Commission's orders","url":"\/6.2-1046\/","token":"6.2\/II\/10\/2\/6.2-1046","metadata":false}],"previous_section":{"id":64819,"structure_id":13002,"section_number":"6.2-1027","catch_line":"Bonds required of officers and employees; blanket bond","url":"\/6.2-1027\/","token":"6.2\/II\/10\/2\/6.2-1027","metadata":false},"next_section":{"id":56519,"structure_id":13002,"section_number":"6.2-1029","catch_line":"Directors","url":"\/6.2-1029\/","token":"6.2\/II\/10\/2\/6.2-1029","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1028\/","history_text":"<p>This law was first created in 1993. The record of its establishment is cataloged in chapter 432 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1993 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1997, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?971+ful+CHAP0051\">51<\/a>; in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>.<\/p>","references":[{"id":63765,"section_number":"6.2-1033","catch_line":"Fees","order_by":null,"url":"\/6.2-1033\/"},{"id":70604,"section_number":"6.2-1065","catch_line":"Definitions","order_by":null,"url":"\/6.2-1065\/"}],"refers_to":[{"id":81700,"section_number":"6.2-1017","catch_line":"Procedure for granting or denying certificate","order_by":null,"url":"\/6.2-1017\/"}],"permalink":{"id":263805,"object_type":"law","relational_id":70732,"identifier":"6.2-1028","token":"6.2\/II\/10\/2\/6.2-1028","url":"\/6.2-1028\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1028\/","token":"6.2\/II\/10\/2\/6.2-1028","dublin_core":{"Title":"Offices","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1028","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> When satisfied that the public interest, as defined in subdivision 8 of \u00a7&nbsp;<a class=\"law\" title=\"Procedure for granting or denying certificate\" href=\"\/6.2-1017\/\">6.2-1017<\/a>, will be served, the <span class=\"dictionary\">Commission<\/span> may authorize: <a id=\"paragraph-255159\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1028\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> A <span class=\"dictionary\">trust company<\/span> having paid-up and unimpaired capital and surplus in an amount deemed sufficient to warrant expansion to establish additional offices; and <a id=\"paragraph-255160\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1028\/#A1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"A2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> The relocation of any office. <a id=\"paragraph-255161\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1028\/#A2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> The office at which a <span class=\"dictionary\">trust company<\/span> begins business shall be designated initially as its <span class=\"dictionary\">principal<\/span> office. The board of directors of a <span class=\"dictionary\">trust company<\/span> may thereafter redesignate as the <span class=\"dictionary\">principal<\/span> office another authorized office of the <span class=\"dictionary\">trust company<\/span> in the Commonwealth. The <span class=\"dictionary\">trust company<\/span> shall notify the <span class=\"dictionary\">Commission<\/span> of any such redesignation not later than 30 days before its effective date and shall confirm to the <span class=\"dictionary\">Commission<\/span> any redesignation within 10 days of its occurrence. <a id=\"paragraph-255162\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1028\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nOFFICES (\u00a7 6.2-1028)\n\nA. When satisfied that the public interest, as defined in subdivision 8 of \u00a7\n6.2-1017, will be served, the Commission may authorize:\n\n   1. A trust company having paid-up and unimpaired capital and surplus in an\n   amount deemed sufficient to warrant expansion to establish additional offices;\n   and\n\n   2. The relocation of any office.\n\nB. The office at which a trust company begins business shall be designated\ninitially as its principal office. The board of directors of a trust company may\nthereafter redesignate as the principal office another authorized office of the\ntrust company in the Commonwealth. The trust company shall notify the Commission\nof any such redesignation not later than 30 days before its effective date and\nshall confirm to the Commission any redesignation within 10 days of its\noccurrence.\n\nHISTORY: 1993, c. 432, \u00a7 6.1-32.21; 1997, c. 51; 2010, c. 794.","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}}