{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-601.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-601.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-601.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-601.html"}],"law_id":71552,"edition_id":1,"section_id":71552,"structure_id":13917,"section_number":"6.2-601","catch_line":"Federal insurance of deposits required for all banks or savings institutions","history":"1986, c. 500, \u00a7 6.1-2.9:4; 1990, c. 3; 1996, c. 16; 2010, c. 794.","full_text":"Notwithstanding any other provisions contained in this title, no bank or savings institution doing business in the Commonwealth shall accept deposits unless its deposit accounts are insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby. No bank or savings institution shall solicit deposits in the Commonwealth, nor shall any other person solicit or accept deposits in the Commonwealth on behalf of a bank or savings institution, unless the deposit accounts of such bank or savings institution are insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby.","order_by":null,"text":{"0":{"id":257937,"text":"Notwithstanding any other provisions contained in this title, no bank or savings institution doing business in the Commonwealth shall accept deposits unless its deposit accounts are insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby. No bank or savings institution shall solicit deposits in the Commonwealth, nor shall any other person solicit or accept deposits in the Commonwealth on behalf of a bank or savings institution, unless the deposit accounts of such bank or savings institution are insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13917,"edition_id":1,"name":"General Provisions","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13916,"metadata":{},"date_created":"2026-06-26 03:46:17","date_modified":"2026-06-26 03:46:17","permalink":{"id":264903,"object_type":"structure","relational_id":13917,"identifier":"1","token":"6.2\/II\/6\/1","url":"\/6.2\/II\/6\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13916,"edition_id":1,"name":"Deposits and Accounts","identifier":"6","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:46:17","date_modified":"2026-06-26 03:46:17","permalink":{"id":264901,"object_type":"structure","relational_id":13916,"identifier":"6","token":"6.2\/II\/6","url":"\/6.2\/II\/6\/","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":63287,"structure_id":13917,"section_number":"6.2-600","catch_line":"Repealed","url":"\/6.2-600\/","token":"6.2\/II\/6\/1\/6.2-600","metadata":false},{"id":71552,"structure_id":13917,"section_number":"6.2-601","catch_line":"Federal insurance of deposits required for all banks or savings institutions","url":"\/6.2-601\/","token":"6.2\/II\/6\/1\/6.2-601","metadata":false},{"id":59315,"structure_id":13917,"section_number":"6.2-602","catch_line":"Adverse claims to accounts","url":"\/6.2-602\/","token":"6.2\/II\/6\/1\/6.2-602","metadata":false},{"id":67162,"structure_id":13917,"section_number":"6.2-603","catch_line":"Medical savings accounts and health savings accounts","url":"\/6.2-603\/","token":"6.2\/II\/6\/1\/6.2-603","metadata":false},{"id":54965,"structure_id":13917,"section_number":"6.2-603.1","catch_line":"Savings promotions","url":"\/6.2-603.1\/","token":"6.2\/II\/6\/1\/6.2-603.1","metadata":false}],"previous_section":{"id":63287,"structure_id":13917,"section_number":"6.2-600","catch_line":"Repealed","url":"\/6.2-600\/","token":"6.2\/II\/6\/1\/6.2-600","metadata":false},"next_section":{"id":59315,"structure_id":13917,"section_number":"6.2-602","catch_line":"Adverse claims to accounts","url":"\/6.2-602\/","token":"6.2\/II\/6\/1\/6.2-602","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-601\/","history_text":"

This law was first created in 1986. The record of its establishment is cataloged in chapter 500 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 1986 \u201cActs\u201d aren\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 1990, chapter 3; in 1996, chapter 16<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264909,"object_type":"law","relational_id":71552,"identifier":"6.2-601","token":"6.2\/II\/6\/1\/6.2-601","url":"\/6.2-601\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-601\/","token":"6.2\/II\/6\/1\/6.2-601","dublin_core":{"Title":"Federal insurance of deposits required for all banks or savings institutions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-601","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Notwithstanding any other provisions contained in this title, no bank or savings institution doing business in the Commonwealth shall accept deposits unless its deposit accounts are insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby. No bank or savings institution shall solicit deposits in the Commonwealth, nor shall any other person<\/span> solicit or accept deposits in the Commonwealth on behalf of a bank or savings institution, unless the deposit accounts of such bank or savings institution are insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFEDERAL INSURANCE OF DEPOSITS REQUIRED FOR ALL BANKS OR SAVINGS INSTITUTIONS (\u00a7\n6.2-601)\n\nNotwithstanding any other provisions contained in this title, no bank or savings\ninstitution doing business in the Commonwealth shall accept deposits unless its\ndeposit accounts are insured by the Federal Deposit Insurance Corporation or\nother federal insurance agency, up to the limits of the insurance provided\nthereby. No bank or savings institution shall solicit deposits in the\nCommonwealth, nor shall any other person solicit or accept deposits in the\nCommonwealth on behalf of a bank or savings institution, unless the deposit\naccounts of such bank or savings institution are insured by the Federal Deposit\nInsurance Corporation or other federal insurance agency, up to the limits of the\ninsurance provided thereby.\n\nHISTORY: 1986, c. 500, \u00a7 6.1-2.9:4; 1990, c. 3; 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}}