{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1192.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1192.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1192.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1192.html"}],"law_id":58058,"edition_id":1,"section_id":58058,"structure_id":13751,"section_number":"6.2-1192","catch_line":"Regulations","history":"1972, c. 796, \u00a7 6.1-195.72; 1985, c. 425, \u00a7\u00a7 6.1-194.74, 6.1-194.75, 6.1-194.76, 6.1-194.87; 1990, c. 3; 1991, c. 230, \u00a7\u00a7 6.1-194.140, 6.1-194.141, 6.1-194.142; 1996, c. 16; 2010, c. 794.","full_text":"A\n\nThe Commission may adopt such regulations as it deems appropriate to effect the purposes of this chapter. Before adopting any regulation, the Commission shall give reasonable notice of its content and shall afford interested parties an opportunity to present evidence and be heard, in accordance with the Commission’s Rules.B\n\nThe Commission may adopt such regulations as may be necessary to permit state savings institutions to have powers comparable with those of federal savings institutions, regardless of any then existing statute, regulation or court decision limiting or denying such powers to state savings institutions. The requirement of a public hearing shall not automatically apply to regulations adopted under this subsection, but the Commission may have such hearing as it deems appropriate.C\n\nThe Commission may adopt regulations governing savings institution holding companies doing business in the Commonwealth, including the activities of such companies and their subsidiaries.D\n\nThe Commissioner shall publish and mail to each state savings institution and foreign savings institution doing business in the Commonwealth a copy of all regulations of the Commission in effect pertaining to such savings institutions at such times as he may deem proper.E\n\nRegulations adopted by the Commission shall continue in effect until amended or revoked by the Commission or superseded by action of the General Assembly.","order_by":null,"text":{"0":{"id":212639,"text":"The Commission may adopt such regulations as it deems appropriate to effect the purposes of this chapter. Before adopting any regulation, the Commission shall give reasonable notice of its content and shall afford interested parties an opportunity to present evidence and be heard, in accordance with the Commission’s Rules.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":212640,"text":"The Commission may adopt such regulations as may be necessary to permit state savings institutions to have powers comparable with those of federal savings institutions, regardless of any then existing statute, regulation or court decision limiting or denying such powers to state savings institutions. The requirement of a public hearing shall not automatically apply to regulations adopted under this subsection, but the Commission may have such hearing as it deems appropriate.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":212641,"text":"The Commission may adopt regulations governing savings institution holding companies doing business in the Commonwealth, including the activities of such companies and their subsidiaries.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":212642,"text":"The Commissioner shall publish and mail to each state savings institution and foreign savings institution doing business in the Commonwealth a copy of all regulations of the Commission in effect pertaining to such savings institutions at such times as he may deem proper.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":212643,"text":"Regulations adopted by the Commission shall continue in effect until amended or revoked by the Commission or superseded by action of the General Assembly.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":13751,"edition_id":1,"name":"Supervision","identifier":"9","label":"article","depth":4,"order_by":1,"parent_id":13490,"metadata":{},"date_created":"2026-06-26 03:45:46","date_modified":"2026-06-26 03:45:46","permalink":{"id":264483,"object_type":"structure","relational_id":13751,"identifier":"9","token":"6.2\/II\/11\/9","url":"\/6.2\/II\/11\/9\/","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":57271,"structure_id":13751,"section_number":"6.2-1191","catch_line":"General supervisory powers of Commission","url":"\/6.2-1191\/","token":"6.2\/II\/11\/9\/6.2-1191","metadata":false},{"id":58058,"structure_id":13751,"section_number":"6.2-1192","catch_line":"Regulations","url":"\/6.2-1192\/","token":"6.2\/II\/11\/9\/6.2-1192","metadata":false},{"id":54754,"structure_id":13751,"section_number":"6.2-1193","catch_line":"Statements to be furnished by Commission to directors of savings institutions","url":"\/6.2-1193\/","token":"6.2\/II\/11\/9\/6.2-1193","metadata":false},{"id":76799,"structure_id":13751,"section_number":"6.2-1194","catch_line":"State savings institutions to furnish financial statements and reports","url":"\/6.2-1194\/","token":"6.2\/II\/11\/9\/6.2-1194","metadata":false},{"id":82129,"structure_id":13751,"section_number":"6.2-1195","catch_line":"Examination of state savings institutions and affiliates by Commissioner; report of examination","url":"\/6.2-1195\/","token":"6.2\/II\/11\/9\/6.2-1195","metadata":false},{"id":54871,"structure_id":13751,"section_number":"6.2-1196","catch_line":"Access to books and evidence of debt; examination of directors, officers, and employees under oath","url":"\/6.2-1196\/","token":"6.2\/II\/11\/9\/6.2-1196","metadata":false},{"id":69518,"structure_id":13751,"section_number":"6.2-1197","catch_line":"False statements; penalty","url":"\/6.2-1197\/","token":"6.2\/II\/11\/9\/6.2-1197","metadata":false},{"id":62949,"structure_id":13751,"section_number":"6.2-1198","catch_line":"Audits","url":"\/6.2-1198\/","token":"6.2\/II\/11\/9\/6.2-1198","metadata":false},{"id":60843,"structure_id":13751,"section_number":"6.2-1199","catch_line":"Powers of Commission in case of nonobservance of law, noncompliance with orders, insufficient reserves or insolvency; appointment of Federal Deposit Insurance Corporation as receiver","url":"\/6.2-1199\/","token":"6.2\/II\/11\/9\/6.2-1199","metadata":false},{"id":85960,"structure_id":13751,"section_number":"6.2-1200","catch_line":"Removal of director or officer; appeal; penalty for acting after removal","url":"\/6.2-1200\/","token":"6.2\/II\/11\/9\/6.2-1200","metadata":false},{"id":68119,"structure_id":13751,"section_number":"6.2-1201","catch_line":"Special examinations","url":"\/6.2-1201\/","token":"6.2\/II\/11\/9\/6.2-1201","metadata":false},{"id":77126,"structure_id":13751,"section_number":"6.2-1202","catch_line":"Fees for supervision and regulation; investigations","url":"\/6.2-1202\/","token":"6.2\/II\/11\/9\/6.2-1202","metadata":false},{"id":74032,"structure_id":13751,"section_number":"6.2-1203","catch_line":"Examination of persons believed to be doing business without authority; doing business without authority; penalty","url":"\/6.2-1203\/","token":"6.2\/II\/11\/9\/6.2-1203","metadata":false},{"id":64847,"structure_id":13751,"section_number":"6.2-1204","catch_line":"Compliance by savings institution holding companies with federal regulations constitutes compliance with Commission regulations","url":"\/6.2-1204\/","token":"6.2\/II\/11\/9\/6.2-1204","metadata":false},{"id":61378,"structure_id":13751,"section_number":"6.2-1205","catch_line":"Merger, consolidation or transfer of assets of insolvent or financially unstable savings institution; notice and hearing; final order; priorities; examinations of resulting institutions","url":"\/6.2-1205\/","token":"6.2\/II\/11\/9\/6.2-1205","metadata":false}],"previous_section":{"id":57271,"structure_id":13751,"section_number":"6.2-1191","catch_line":"General supervisory powers of Commission","url":"\/6.2-1191\/","token":"6.2\/II\/11\/9\/6.2-1191","metadata":false},"next_section":{"id":54754,"structure_id":13751,"section_number":"6.2-1193","catch_line":"Statements to be furnished by Commission to directors of savings institutions","url":"\/6.2-1193\/","token":"6.2\/II\/11\/9\/6.2-1193","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1192\/","history_text":"

This law was first created in 1972. The record of its establishment is cataloged in chapter 796 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 1972 \u201cActs\u201d aren\u2019t available online. It has been modified 5 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 1985, chapter 425; in 1990, chapter 3; in 1991, chapter 230; in 1996, chapter 16<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":77083,"section_number":"6.2-1140","catch_line":"Reorganization of mutual association into mutual holding company; approval by Commissioner; powers; issuance of stock","order_by":null,"url":"\/6.2-1140\/"}],"refers_to":false,"permalink":{"id":264489,"object_type":"law","relational_id":58058,"identifier":"6.2-1192","token":"6.2\/II\/11\/9\/6.2-1192","url":"\/6.2-1192\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1192\/","token":"6.2\/II\/11\/9\/6.2-1192","dublin_core":{"Title":"Regulations","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1192","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Commission<\/span> may adopt such regulations as it deems appropriate to effect the purposes of this chapter. Before adopting any regulation, the Commission<\/span> shall give reasonable notice of its content and shall afford interested parties an opportunity to present evidence<\/span> and be heard, in accordance with the Commission<\/span>’s Rules. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span> may adopt such regulations as may be necessary to permit state savings institutions<\/span> to have powers comparable with those of federal savings institutions<\/span>, regardless of any then existing statute<\/span>, regulation or court<\/span> decision limiting or denying such powers to state savings institutions<\/span>. The requirement of a public hearing<\/span> shall not automatically apply to regulations adopted under this subsection, but the Commission<\/span> may have such hearing<\/span> as it deems appropriate. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Commission<\/span> may adopt regulations governing savings institution<\/span> holding companies doing business in the Commonwealth, including the activities of such companies and their subsidiaries. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Commissioner<\/span> shall publish and mail to each state savings institution<\/span> and foreign savings institution<\/span> doing business in the Commonwealth a copy of all regulations of the Commission<\/span> in effect pertaining to such savings institutions at such times as he may deem proper. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Regulations adopted by the Commission<\/span> shall continue in effect until amended or revoked by the Commission<\/span> or superseded by action of the General Assembly. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREGULATIONS (\u00a7 6.2-1192)\n\nA. The Commission may adopt such regulations as it deems appropriate to effect\nthe purposes of this chapter. Before adopting any regulation, the Commission\nshall give reasonable notice of its content and shall afford interested parties\nan opportunity to present evidence and be heard, in accordance with the\nCommission’s Rules.\n\nB. The Commission may adopt such regulations as may be necessary to permit state\nsavings institutions to have powers comparable with those of federal savings\ninstitutions, regardless of any then existing statute, regulation or court\ndecision limiting or denying such powers to state savings institutions. The\nrequirement of a public hearing shall not automatically apply to regulations\nadopted under this subsection, but the Commission may have such hearing as it\ndeems appropriate.\n\nC. The Commission may adopt regulations governing savings institution holding\ncompanies doing business in the Commonwealth, including the activities of such\ncompanies and their subsidiaries.\n\nD. The Commissioner shall publish and mail to each state savings institution and\nforeign savings institution doing business in the Commonwealth a copy of all\nregulations of the Commission in effect pertaining to such savings institutions\nat such times as he may deem proper.\n\nE. Regulations adopted by the Commission shall continue in effect until amended\nor revoked by the Commission or superseded by action of the General Assembly.\n\nHISTORY: 1972, c. 796, \u00a7 6.1-195.72; 1985, c. 425, \u00a7\u00a7 6.1-194.74, 6.1-194.75,\n6.1-194.76, 6.1-194.87; 1990, c. 3; 1991, c. 230, \u00a7\u00a7 6.1-194.140, 6.1-194.141,\n6.1-194.142; 1996, c. 16; 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}}