{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-821.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-821.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-821.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-821.html"}],"law_id":62734,"edition_id":1,"section_id":62734,"structure_id":15779,"section_number":"6.2-821","catch_line":"Separation of banking and trust functions; establishment of trust department","history":"Code 1950, \u00a7 6-97; 1966, c. 584, \u00a7 6.1-20; 1993, c. 432; 2010, c. 794.","full_text":"Every state bank that obtains permission from the Commission to engage in trust business shall establish a separate trust department. Such department shall be established before such institution undertakes to act in any fiduciary capacity and shall be placed under the management of an officer or officers whose duties shall be prescribed by the board of directors of the institution or by either an amendment to the bylaws of the institution or by a resolution duly entered in the minutes of the board of directors.","order_by":null,"text":{"0":{"id":228752,"text":"Every state bank that obtains permission from the Commission to engage in trust business shall establish a separate trust department. Such department shall be established before such institution undertakes to act in any fiduciary capacity and shall be placed under the management of an officer or officers whose duties shall be prescribed by the board of directors of the institution or by either an amendment to the bylaws of the institution or by a resolution duly entered in the minutes of the board of directors.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15779,"edition_id":1,"name":"Conduct of Trust Business by Banks","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 03:59:26","date_modified":"2026-06-26 03:59:26","permalink":{"id":265427,"object_type":"structure","relational_id":15779,"identifier":"3","token":"6.2\/II\/8\/3","url":"\/6.2\/II\/8\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13791,"edition_id":1,"name":"Banks","identifier":"8","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:53","date_modified":"2026-06-26 03:45:53","permalink":{"id":265065,"object_type":"structure","relational_id":13791,"identifier":"8","token":"6.2\/II\/8","url":"\/6.2\/II\/8\/","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":85620,"structure_id":15779,"section_number":"6.2-819","catch_line":"Authority to engage in trust business; permission of Commission required","url":"\/6.2-819\/","token":"6.2\/II\/8\/3\/6.2-819","metadata":false},{"id":60766,"structure_id":15779,"section_number":"6.2-820","catch_line":"Powers of national banks as fiduciaries","url":"\/6.2-820\/","token":"6.2\/II\/8\/3\/6.2-820","metadata":false},{"id":62734,"structure_id":15779,"section_number":"6.2-821","catch_line":"Separation of banking and trust functions; establishment of trust department","url":"\/6.2-821\/","token":"6.2\/II\/8\/3\/6.2-821","metadata":false}],"previous_section":{"id":60766,"structure_id":15779,"section_number":"6.2-820","catch_line":"Powers of national banks as fiduciaries","url":"\/6.2-820\/","token":"6.2\/II\/8\/3\/6.2-820","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-821\/","history_text":"

The record of this law\u2019s original creation isn\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 1966, chapter 584; in 1993, chapter 432; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":82343,"section_number":"6.2-1012","catch_line":"Suspension or prohibition of trust institutions","order_by":null,"url":"\/6.2-1012\/"},{"id":60477,"section_number":"6.2-818.1","catch_line":"Virtual currency custody services by banks","order_by":null,"url":"\/6.2-818.1\/"}],"refers_to":false,"permalink":{"id":265437,"object_type":"law","relational_id":62734,"identifier":"6.2-821","token":"6.2\/II\/8\/3\/6.2-821","url":"\/6.2-821\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-821\/","token":"6.2\/II\/8\/3\/6.2-821","dublin_core":{"Title":"Separation of banking and trust functions; establishment of trust department","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-821","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Every state bank<\/span> that obtains permission from the Commission<\/span> to engage in trust business shall establish a separate trust department. Such department shall be established before such institution undertakes to act in any fiduciary capacity and shall be placed under the management of an officer or officers whose duties shall be prescribed by the board of directors of the institution or by either an amendment to the bylaws of the institution or by a resolution duly entered in the minutes of the board of directors.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSEPARATION OF BANKING AND TRUST FUNCTIONS; ESTABLISHMENT OF TRUST DEPARTMENT (\u00a7\n6.2-821)\n\nEvery state bank that obtains permission from the Commission to engage in trust\nbusiness shall establish a separate trust department. Such department shall be\nestablished before such institution undertakes to act in any fiduciary capacity\nand shall be placed under the management of an officer or officers whose duties\nshall be prescribed by the board of directors of the institution or by either an\namendment to the bylaws of the institution or by a resolution duly entered in\nthe minutes of the board of directors.\n\nHISTORY: Code 1950, \u00a7 6-97; 1966, c. 584, \u00a7 6.1-20; 1993, c. 432; 2010, c.\n794.","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}}