{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-711.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-711.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-711.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-711.html"}],"law_id":81309,"edition_id":1,"section_id":81309,"structure_id":13877,"section_number":"6.2-711","catch_line":"Civil penalties; injunction","history":"1978, c. 683, \u00a7 6.1-388; 1983, c. 194; 2010, c. 794.","full_text":"A\n\nTo the extent provided for therein, the Commission may impose a civil penalty of not less than $100 but not exceeding $1,000 per day for each day of noncompliance upon financial institution holding companies subject to the laws of the Commonwealth that fail to comply with any of the provisions of § 6.2-707 for a period of longer than 30 days, after being called upon by the Commission for a statement, or to do such other act as is therein provided. The Commission may impose a civil penalty of not less than $25 but not exceeding $100 per day for each day of noncompliance upon any officer of any such financial institution holding company, who shall refuse to give any examiner the information or refuse to be sworn, as required by this title.B\n\nThe Commission (i) may impose a civil penalty not exceeding $10,000 against any financial institution holding company subject to the laws of the Commonwealth or against any of its directors, officers, or employees for violating any lawful order of the Commission and (ii) may remove from office any director or officer who a second time violates any such order. In all cases the defendant shall have an opportunity to be heard and to introduce evidence, and the right to appeal as provided by law.C\n\nAny person violating any provision of this chapter or any regulation adopted thereunder shall be subject to injunction by the Commission or by an appropriate court on motion of any party in interest. In addition, the Commission may impose a civil penalty of not more than $1,000 per day for each day the violation continues upon any person violating any provision of this chapter or any regulation adopted thereunder.","order_by":null,"text":{"0":{"id":291399,"text":"To the extent provided for therein, the Commission may impose a civil penalty of not less than $100 but not exceeding $1,000 per day for each day of noncompliance upon financial institution holding companies subject to the laws of the Commonwealth that fail to comply with any of the provisions of § 6.2-707 for a period of longer than 30 days, after being called upon by the Commission for a statement, or to do such other act as is therein provided. The Commission may impose a civil penalty of not less than $25 but not exceeding $100 per day for each day of noncompliance upon any officer of any such financial institution holding company, who shall refuse to give any examiner the information or refuse to be sworn, as required by this title.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":291400,"text":"The Commission (i) may impose a civil penalty not exceeding $10,000 against any financial institution holding company subject to the laws of the Commonwealth or against any of its directors, officers, or employees for violating any lawful order of the Commission and (ii) may remove from office any director or officer who a second time violates any such order. In all cases the defendant shall have an opportunity to be heard and to introduce evidence, and the right to appeal as provided by law.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":291401,"text":"Any person violating any provision of this chapter or any regulation adopted thereunder shall be subject to injunction by the Commission or by an appropriate court on motion of any party in interest. In addition, the Commission may impose a civil penalty of not more than $1,000 per day for each day the violation continues upon any person violating any provision of this chapter or any regulation adopted thereunder.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":13877,"edition_id":1,"name":"Acquisitions of Interests in Financial Institutions","identifier":"7","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:46:09","date_modified":"2026-06-26 03:46:09","permalink":{"id":264999,"object_type":"structure","relational_id":13877,"identifier":"7","token":"6.2\/II\/7","url":"\/6.2\/II\/7\/","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":75055,"structure_id":13877,"section_number":"6.2-700","catch_line":"Definitions","url":"\/6.2-700\/","token":"6.2\/II\/7\/6.2-700","metadata":false},{"id":60495,"structure_id":13877,"section_number":"6.2-701","catch_line":"Presumptions regarding control of entities, ownership of shares, and activities of subsidiaries or other entities","url":"\/6.2-701\/","token":"6.2\/II\/7\/6.2-701","metadata":false},{"id":54906,"structure_id":13877,"section_number":"6.2-702","catch_line":"Registration; authority to transact business","url":"\/6.2-702\/","token":"6.2\/II\/7\/6.2-702","metadata":false},{"id":85442,"structure_id":13877,"section_number":"6.2-703","catch_line":"Acquisition of interest in entity other than financial institution by financial institutions","url":"\/6.2-703\/","token":"6.2\/II\/7\/6.2-703","metadata":false},{"id":69570,"structure_id":13877,"section_number":"6.2-704","catch_line":"Acquisition of interests in financial institutions and financial institution holding companies; application; notice; Commission approval required","url":"\/6.2-704\/","token":"6.2\/II\/7\/6.2-704","metadata":false},{"id":57026,"structure_id":13877,"section_number":"6.2-705","catch_line":"Investigation of application","url":"\/6.2-705\/","token":"6.2\/II\/7\/6.2-705","metadata":false},{"id":87334,"structure_id":13877,"section_number":"6.2-706","catch_line":"Cooperative agreements with other regulatory authorities","url":"\/6.2-706\/","token":"6.2\/II\/7\/6.2-706","metadata":false},{"id":72788,"structure_id":13877,"section_number":"6.2-707","catch_line":"Reports and examinations","url":"\/6.2-707\/","token":"6.2\/II\/7\/6.2-707","metadata":false},{"id":70385,"structure_id":13877,"section_number":"6.2-708","catch_line":"Unsafe or unsound practices; cease and desist orders","url":"\/6.2-708\/","token":"6.2\/II\/7\/6.2-708","metadata":false},{"id":77051,"structure_id":13877,"section_number":"6.2-709","catch_line":"Conformity with federal forms","url":"\/6.2-709\/","token":"6.2\/II\/7\/6.2-709","metadata":false},{"id":67335,"structure_id":13877,"section_number":"6.2-710","catch_line":"Regulations excluding financial institution holding companies from this chapter","url":"\/6.2-710\/","token":"6.2\/II\/7\/6.2-710","metadata":false},{"id":81309,"structure_id":13877,"section_number":"6.2-711","catch_line":"Civil penalties; injunction","url":"\/6.2-711\/","token":"6.2\/II\/7\/6.2-711","metadata":false},{"id":85696,"structure_id":13877,"section_number":"6.2-712","catch_line":"A savings institution holding company seeking to acquire a bank or bank holding company deemed a bank holding company","url":"\/6.2-712\/","token":"6.2\/II\/7\/6.2-712","metadata":false},{"id":74113,"structure_id":13877,"section_number":"6.2-713","catch_line":"Applicable laws and regulations","url":"\/6.2-713\/","token":"6.2\/II\/7\/6.2-713","metadata":false},{"id":65153,"structure_id":13877,"section_number":"6.2-714","catch_line":"Examinations of out-of-state bank holding companies and subsidiaries; reports; joint actions","url":"\/6.2-714\/","token":"6.2\/II\/7\/6.2-714","metadata":false},{"id":73214,"structure_id":13877,"section_number":"6.2-715","catch_line":"Notice of intent to acquire out-of-state bank","url":"\/6.2-715\/","token":"6.2\/II\/7\/6.2-715","metadata":false}],"previous_section":{"id":67335,"structure_id":13877,"section_number":"6.2-710","catch_line":"Regulations excluding financial institution holding companies from this chapter","url":"\/6.2-710\/","token":"6.2\/II\/7\/6.2-710","metadata":false},"next_section":{"id":85696,"structure_id":13877,"section_number":"6.2-712","catch_line":"A savings institution holding company seeking to acquire a bank or bank holding company deemed a bank holding company","url":"\/6.2-712\/","token":"6.2\/II\/7\/6.2-712","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-711\/","history_text":"

This law was first created in 1978. The record of its establishment is cataloged in chapter 683 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 1978 \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 1983, chapter 194; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"id":72788,"section_number":"6.2-707","catch_line":"Reports and examinations","order_by":null,"url":"\/6.2-707\/"}],"permalink":{"id":265045,"object_type":"law","relational_id":81309,"identifier":"6.2-711","token":"6.2\/II\/7\/6.2-711","url":"\/6.2-711\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-711\/","token":"6.2\/II\/7\/6.2-711","dublin_core":{"Title":"Civil penalties; injunction","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-711","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> To the extent provided for therein, the Commission<\/span> may impose a civil penalty<\/span> of not less than $100 but not exceeding $1,000 per day for each day of noncompliance upon financial institution holding companies subject to the laws<\/span> of the Commonwealth that fail to comply with any of the provisions of § 6.2-707<\/a> for a period of longer than 30 days, after being called upon by the Commission<\/span> for a statement, or to do such other act as is therein provided. The Commission<\/span> may impose a civil penalty<\/span> of not less than $25 but not exceeding $100 per day for each day of noncompliance upon any officer of any such financial institution holding company<\/span>, who shall refuse to give any examiner the information or refuse to be sworn, as required by this title. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span> (i) may impose a civil penalty<\/span> not exceeding $10,000 against any financial institution holding company<\/span> subject to the laws<\/span> of the Commonwealth or against any of its directors, officers, or employees for violating any lawful order<\/span> of the Commission<\/span> and (ii) may remove from office any director or officer who a second time violates any such order<\/span>. In all cases the defendant<\/span> shall have an opportunity to be heard and to introduce evidence<\/span>, and the right to appeal<\/span> as provided by law<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Any person<\/span> violating any provision of this chapter or any regulation adopted thereunder shall be subject to injunction<\/span> by the Commission<\/span> or by an appropriate court<\/span> on motion<\/span> of any party in interest<\/span>. In addition, the Commission<\/span> may impose a civil penalty<\/span> of not more than $1,000 per day for each day the violation continues upon any person<\/span> violating any provision of this chapter or any regulation adopted thereunder. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCIVIL PENALTIES; INJUNCTION (\u00a7 6.2-711)\n\nA. To the extent provided for therein, the Commission may impose a civil penalty\nof not less than $100 but not exceeding $1,000 per day for each day of\nnoncompliance upon financial institution holding companies subject to the laws\nof the Commonwealth that fail to comply with any of the provisions of §\n6.2-707 for a period of longer than 30 days, after being called upon by the\nCommission for a statement, or to do such other act as is therein provided. The\nCommission may impose a civil penalty of not less than $25 but not exceeding\n$100 per day for each day of noncompliance upon any officer of any such\nfinancial institution holding company, who shall refuse to give any examiner the\ninformation or refuse to be sworn, as required by this title.\n\nB. The Commission (i) may impose a civil penalty not exceeding $10,000 against\nany financial institution holding company subject to the laws of the\nCommonwealth or against any of its directors, officers, or employees for\nviolating any lawful order of the Commission and (ii) may remove from office any\ndirector or officer who a second time violates any such order. In all cases the\ndefendant shall have an opportunity to be heard and to introduce evidence, and\nthe right to appeal as provided by law.\n\nC. Any person violating any provision of this chapter or any regulation adopted\nthereunder shall be subject to injunction by the Commission or by an appropriate\ncourt on motion of any party in interest. In addition, the Commission may impose\na civil penalty of not more than $1,000 per day for each day the violation\ncontinues upon any person violating any provision of this chapter or any\nregulation adopted thereunder.\n\nHISTORY: 1978, c. 683, \u00a7 6.1-388; 1983, c. 194; 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}}