{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1162.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1162.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1162.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1162.html"}],"law_id":83343,"edition_id":1,"section_id":83343,"structure_id":13529,"section_number":"6.2-1162","catch_line":"Periodic reports; interstate agreements","history":"1985, c. 425, \u00a7 6.1-194.103; 1994, c. 353; 2010, c. 794.","full_text":"A\n\nThe Commission may examine any out-of-state savings institution holding company owning a Virginia savings institution and each of its Virginia or non-Virginia savings institution or nonsavings institution subsidiaries and shall require reports of each savings institution holding company subject to this chapter. Such reports shall be filed under oath with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with the provisions of this chapter.B\n\nPrior to approving an acquisition under the provisions of this article, the Commission shall enter into cooperative agreements with the appropriate regulatory authorities for the periodic examination of any savings institution holding company that has a Virginia savings institution subsidiary or any subsidiary of such holding company and may accept reports of examination and other records from such authorities in lieu of conducting its own examinations. The Commission may enter into joint actions with other regulatory authorities having concurrent jurisdiction over any savings institution holding company that has a Virginia savings institution subsidiary or may take such actions independently to carry out its responsibilities under this chapter, assure the safety and soundness of any Virginia savings institution, and assure compliance with the provisions of this chapter and the applicable savings institution laws of the Commonwealth.","order_by":null,"text":{"0":{"id":298597,"text":"The Commission may examine any out-of-state savings institution holding company owning a Virginia savings institution and each of its Virginia or non-Virginia savings institution or nonsavings institution subsidiaries and shall require reports of each savings institution holding company subject to this chapter. Such reports shall be filed under oath with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with the provisions of this chapter.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":298598,"text":"Prior to approving an acquisition under the provisions of this article, the Commission shall enter into cooperative agreements with the appropriate regulatory authorities for the periodic examination of any savings institution holding company that has a Virginia savings institution subsidiary or any subsidiary of such holding company and may accept reports of examination and other records from such authorities in lieu of conducting its own examinations. The Commission may enter into joint actions with other regulatory authorities having concurrent jurisdiction over any savings institution holding company that has a Virginia savings institution subsidiary or may take such actions independently to carry out its responsibilities under this chapter, assure the safety and soundness of any Virginia savings institution, and assure compliance with the provisions of this chapter and the applicable savings institution laws of the Commonwealth.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13529,"edition_id":1,"name":"Foreign Savings Institutions; Acquisitions by Out-Of-State Savings Institutions or Out-Of-State Savings Institution Holding Companies","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13490,"metadata":{},"date_created":"2026-06-26 03:45:07","date_modified":"2026-06-26 03:45:07","permalink":{"id":264303,"object_type":"structure","relational_id":13529,"identifier":"5","token":"6.2\/II\/11\/5","url":"\/6.2\/II\/11\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13490,"edition_id":1,"name":"Savings Institutions","identifier":"11","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:01","date_modified":"2026-06-26 03:45:01","permalink":{"id":264101,"object_type":"structure","relational_id":13490,"identifier":"11","token":"6.2\/II\/11","url":"\/6.2\/II\/11\/","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":87028,"structure_id":13529,"section_number":"6.2-1148","catch_line":"Definitions","url":"\/6.2-1148\/","token":"6.2\/II\/11\/5\/6.2-1148","metadata":false},{"id":72618,"structure_id":13529,"section_number":"6.2-1149","catch_line":"Foreign savings institutions; certificate of authority","url":"\/6.2-1149\/","token":"6.2\/II\/11\/5\/6.2-1149","metadata":false},{"id":54494,"structure_id":13529,"section_number":"6.2-1150","catch_line":"When operation of foreign savings institution in the Commonwealth is prohibited","url":"\/6.2-1150\/","token":"6.2\/II\/11\/5\/6.2-1150","metadata":false},{"id":65228,"structure_id":13529,"section_number":"6.2-1151","catch_line":"Applicability of Virginia Stock and Nonstock Corporation Acts","url":"\/6.2-1151\/","token":"6.2\/II\/11\/5\/6.2-1151","metadata":false},{"id":68576,"structure_id":13529,"section_number":"6.2-1152","catch_line":"Law applicable to contracts of foreign savings institutions","url":"\/6.2-1152\/","token":"6.2\/II\/11\/5\/6.2-1152","metadata":false},{"id":65806,"structure_id":13529,"section_number":"6.2-1153","catch_line":"Examination and supervision of foreign savings institutions","url":"\/6.2-1153\/","token":"6.2\/II\/11\/5\/6.2-1153","metadata":false},{"id":76607,"structure_id":13529,"section_number":"6.2-1154","catch_line":"Revocation of certificate of authority of foreign savings institution","url":"\/6.2-1154\/","token":"6.2\/II\/11\/5\/6.2-1154","metadata":false},{"id":79460,"structure_id":13529,"section_number":"6.2-1155","catch_line":"Unapproved foreign savings institutions","url":"\/6.2-1155\/","token":"6.2\/II\/11\/5\/6.2-1155","metadata":false},{"id":84988,"structure_id":13529,"section_number":"6.2-1156","catch_line":"Activities that are not considered \"doing business.\"","url":"\/6.2-1156\/","token":"6.2\/II\/11\/5\/6.2-1156","metadata":false},{"id":87076,"structure_id":13529,"section_number":"6.2-1157","catch_line":"Acquisitions by out-of-state savings institution holding company","url":"\/6.2-1157\/","token":"6.2\/II\/11\/5\/6.2-1157","metadata":false},{"id":83536,"structure_id":13529,"section_number":"6.2-1158","catch_line":"Acquisitions by out-of-state savings institution","url":"\/6.2-1158\/","token":"6.2\/II\/11\/5\/6.2-1158","metadata":false},{"id":83679,"structure_id":13529,"section_number":"6.2-1159","catch_line":"Investigation of application; prescribed investigation period; shortening, lengthening or waiving of period; hearing; appeals","url":"\/6.2-1159\/","token":"6.2\/II\/11\/5\/6.2-1159","metadata":false},{"id":86253,"structure_id":13529,"section_number":"6.2-1160","catch_line":"Notice of intent to acquire out-of-state savings institution","url":"\/6.2-1160\/","token":"6.2\/II\/11\/5\/6.2-1160","metadata":false},{"id":64824,"structure_id":13529,"section_number":"6.2-1161","catch_line":"Applicable laws and regulations; enforcement by Commission","url":"\/6.2-1161\/","token":"6.2\/II\/11\/5\/6.2-1161","metadata":false},{"id":83343,"structure_id":13529,"section_number":"6.2-1162","catch_line":"Periodic reports; interstate agreements","url":"\/6.2-1162\/","token":"6.2\/II\/11\/5\/6.2-1162","metadata":false},{"id":63593,"structure_id":13529,"section_number":"6.2-1163","catch_line":"Application of article to bank or bank holding company","url":"\/6.2-1163\/","token":"6.2\/II\/11\/5\/6.2-1163","metadata":false},{"id":82624,"structure_id":13529,"section_number":"6.2-1164","catch_line":"Acquisitions of state savings bank or holding companies by out-of-state financial institutions","url":"\/6.2-1164\/","token":"6.2\/II\/11\/5\/6.2-1164","metadata":false},{"id":64336,"structure_id":13529,"section_number":"6.2-1165","catch_line":"Nonseverability","url":"\/6.2-1165\/","token":"6.2\/II\/11\/5\/6.2-1165","metadata":false}],"previous_section":{"id":64824,"structure_id":13529,"section_number":"6.2-1161","catch_line":"Applicable laws and regulations; enforcement by Commission","url":"\/6.2-1161\/","token":"6.2\/II\/11\/5\/6.2-1161","metadata":false},"next_section":{"id":63593,"structure_id":13529,"section_number":"6.2-1163","catch_line":"Application of article to bank or bank holding company","url":"\/6.2-1163\/","token":"6.2\/II\/11\/5\/6.2-1163","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1162\/","history_text":"

This law was first created in 1985. The record of its establishment is cataloged in chapter 425 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 1985 \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 1994, chapter 353<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264361,"object_type":"law","relational_id":83343,"identifier":"6.2-1162","token":"6.2\/II\/11\/5\/6.2-1162","url":"\/6.2-1162\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1162\/","token":"6.2\/II\/11\/5\/6.2-1162","dublin_core":{"Title":"Periodic reports; interstate agreements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1162","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Commission<\/span> may examine any out-of-state savings institution holding company<\/span><\/span> owning a Virginia savings institution<\/span> and each of its Virginia or non-Virginia savings institution<\/span> or nonsavings institution subsidiaries and shall require reports of each savings institution holding company<\/span> subject to this chapter. Such reports shall be filed under oath<\/span> with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with the provisions of this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Prior to approving an acquisition under the provisions of this article, the Commission<\/span> shall enter into cooperative agreements with the appropriate regulatory authorities for the periodic examination of any savings institution holding company<\/span> that has a Virginia savings institution<\/span> subsidiary or any subsidiary of such holding company and may accept reports of examination and other records from such authorities in lieu of conducting its own examinations. The Commission<\/span> may enter into joint actions with other regulatory authorities having concurrent jurisdiction<\/span> over any savings institution holding company<\/span> that has a Virginia savings institution<\/span> subsidiary or may take such actions independently to carry out its responsibilities under this chapter, assure the safety and soundness of any Virginia savings institution<\/span>, and assure compliance with the provisions of this chapter and the applicable savings institution laws<\/span> of the Commonwealth. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPERIODIC REPORTS; INTERSTATE AGREEMENTS (\u00a7 6.2-1162)\n\nA. The Commission may examine any out-of-state savings institution holding\ncompany owning a Virginia savings institution and each of its Virginia or\nnon-Virginia savings institution or nonsavings institution subsidiaries and\nshall require reports of each savings institution holding company subject to\nthis chapter. Such reports shall be filed under oath with such frequency and in\nsuch scope and detail as may be appropriate for the purpose of assuring\ncontinuing compliance with the provisions of this chapter.\n\nB. Prior to approving an acquisition under the provisions of this article, the\nCommission shall enter into cooperative agreements with the appropriate\nregulatory authorities for the periodic examination of any savings institution\nholding company that has a Virginia savings institution subsidiary or any\nsubsidiary of such holding company and may accept reports of examination and\nother records from such authorities in lieu of conducting its own examinations.\nThe Commission may enter into joint actions with other regulatory authorities\nhaving concurrent jurisdiction over any savings institution holding company that\nhas a Virginia savings institution subsidiary or may take such actions\nindependently to carry out its responsibilities under this chapter, assure the\nsafety and soundness of any Virginia savings institution, and assure compliance\nwith the provisions of this chapter and the applicable savings institution laws\nof the Commonwealth.\n\nHISTORY: 1985, c. 425, \u00a7 6.1-194.103; 1994, c. 353; 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}}