{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1070.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1070.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1070.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1070.html"}],"law_id":58476,"edition_id":1,"section_id":58476,"structure_id":14521,"section_number":"6.2-1070","catch_line":"Conditions for approval","history":"1999, c. 835, \u00a7 6.1-32.39; 2010, c. 794.","full_text":"A trust office of an out-of-state trust institution shall not be acquired or established under this article unless:\n\n1\n\nIn the case of a new trust office, the laws of the home state of the out-of-state trust institution permit state trust institutions to establish and maintain new trust offices in that state under substantially the same terms as set forth in this article.2\n\nIn the case of a trust office to be established through the acquisition of a trust office, the laws of the home state of the out-of-state trust institution permit state trust institutions to establish and maintain trust offices in that state through the acquisition of trust offices under substantially the same terms as set forth in this article.","order_by":null,"text":{"0":{"id":214302,"text":"A trust office of an out-of-state trust institution shall not be acquired or established under this article unless:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":214303,"text":"In the case of a new trust office, the laws of the home state of the out-of-state trust institution permit state trust institutions to establish and maintain new trust offices in that state under substantially the same terms as set forth in this article.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":214304,"text":"In the case of a trust office to be established through the acquisition of a trust office, the laws of the home state of the out-of-state trust institution permit state trust institutions to establish and maintain trust offices in that state through the acquisition of trust offices under substantially the same terms as set forth in this article.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1"}},"ancestry":[{"id":14521,"edition_id":1,"name":"Multistate Trust Institutions","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":13001,"metadata":{},"date_created":"2026-06-26 03:48:30","date_modified":"2026-06-26 03:48:30","permalink":{"id":263955,"object_type":"structure","relational_id":14521,"identifier":"4","token":"6.2\/II\/10\/4","url":"\/6.2\/II\/10\/4\/","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":70604,"structure_id":14521,"section_number":"6.2-1065","catch_line":"Definitions","url":"\/6.2-1065\/","token":"6.2\/II\/10\/4\/6.2-1065","metadata":false},{"id":55953,"structure_id":14521,"section_number":"6.2-1066","catch_line":"Interstate trust offices by Virginia state banks","url":"\/6.2-1066\/","token":"6.2\/II\/10\/4\/6.2-1066","metadata":false},{"id":71982,"structure_id":14521,"section_number":"6.2-1067","catch_line":"Trust business of out-of-state trust institution","url":"\/6.2-1067\/","token":"6.2\/II\/10\/4\/6.2-1067","metadata":false},{"id":68279,"structure_id":14521,"section_number":"6.2-1068","catch_line":"Establishing or acquiring an interstate trust office; additional trust offices; notice of closure","url":"\/6.2-1068\/","token":"6.2\/II\/10\/4\/6.2-1068","metadata":false},{"id":62968,"structure_id":14521,"section_number":"6.2-1069","catch_line":"Filing requirements","url":"\/6.2-1069\/","token":"6.2\/II\/10\/4\/6.2-1069","metadata":false},{"id":58476,"structure_id":14521,"section_number":"6.2-1070","catch_line":"Conditions for approval","url":"\/6.2-1070\/","token":"6.2\/II\/10\/4\/6.2-1070","metadata":false},{"id":60106,"structure_id":14521,"section_number":"6.2-1071","catch_line":"Examinations; periodic reports; cooperative agreements; assessment of fees","url":"\/6.2-1071\/","token":"6.2\/II\/10\/4\/6.2-1071","metadata":false},{"id":67227,"structure_id":14521,"section_number":"6.2-1072","catch_line":"Enforcement","url":"\/6.2-1072\/","token":"6.2\/II\/10\/4\/6.2-1072","metadata":false},{"id":70817,"structure_id":14521,"section_number":"6.2-1073","catch_line":"Regulations; fees","url":"\/6.2-1073\/","token":"6.2\/II\/10\/4\/6.2-1073","metadata":false}],"previous_section":{"id":62968,"structure_id":14521,"section_number":"6.2-1069","catch_line":"Filing requirements","url":"\/6.2-1069\/","token":"6.2\/II\/10\/4\/6.2-1069","metadata":false},"next_section":{"id":60106,"structure_id":14521,"section_number":"6.2-1071","catch_line":"Examinations; periodic reports; cooperative agreements; assessment of fees","url":"\/6.2-1071\/","token":"6.2\/II\/10\/4\/6.2-1071","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1070\/","history_text":"

This law was first created in 1999. The record of its establishment is cataloged in chapter 835<\/a> 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. It has been modified 1 time. 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. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":263977,"object_type":"law","relational_id":58476,"identifier":"6.2-1070","token":"6.2\/II\/10\/4\/6.2-1070","url":"\/6.2-1070\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1070\/","token":"6.2\/II\/10\/4\/6.2-1070","dublin_core":{"Title":"Conditions for approval","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1070","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A trust office<\/span> of an out-of-state trust institution<\/span><\/span> shall not be acquired or established under this article unless:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> In the case of a new trust office<\/span>, the laws<\/span> of the home state<\/span> of the out-of-state trust institution<\/span><\/span> permit state trust institutions<\/span> to establish and maintain new trust offices<\/span> in that state under substantially the same terms as set forth in this article. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> In the case of a trust office to be established through the acquisition of a trust office<\/span>, the laws<\/span> of the home state<\/span> of the out-of-state trust institution<\/span><\/span> permit state trust institutions<\/span> to establish and maintain trust offices in that state through the acquisition of trust offices under substantially the same terms as set forth in this article. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONDITIONS FOR APPROVAL (\u00a7 6.2-1070)\n\nA trust office of an out-of-state trust institution shall not be acquired or\nestablished under this article unless:\n\n1. In the case of a new trust office, the laws of the home state of the\nout-of-state trust institution permit state trust institutions to establish and\nmaintain new trust offices in that state under substantially the same terms as\nset forth in this article.\n\n2. In the case of a trust office to be established through the acquisition of a\ntrust office, the laws of the home state of the out-of-state trust institution\npermit state trust institutions to establish and maintain trust offices in that\nstate through the acquisition of trust offices under substantially the same\nterms as set forth in this article.\n\nHISTORY: 1999, c. 835, \u00a7 6.1-32.39; 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}}