{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-829.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-829.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-829.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-829.html"}],"law_id":67840,"edition_id":1,"section_id":67840,"structure_id":14285,"section_number":"6.2-829","catch_line":"Conversion from state savings bank to state bank; conversion from state bank to state savings bank","history":"1991, c. 230, \u00a7 6.1-194.129; 2010, c. 794.","full_text":"A\n\nA state savings bank may be converted into a state bank upon compliance with the procedure set forth in subsection A of § 6.2-1144.B\n\nA state bank may be converted into a state savings bank by the amendment of its articles of incorporation in compliance with the procedure established by Title 13.1, provided that such conversion is approved in advance by the Commission. Prior to approving or disapproving a conversion, the Commission shall investigate the application to convert as if it were an application for a certificate of authority to begin a savings bank, and approval shall not be granted unless the applicant meets the standards established by § 6.2-1118. Within one year of the date of the conversion, the resulting state savings bank shall conform its assets and operations to the provisions of law regulating the operation of state savings banks. The Commission may grant such resulting state savings bank additional one-year periods, not to exceed a total of four additional years, in which to conform its assets and operations to the provisions of law regulating the operation of state savings banks.","order_by":null,"text":{"0":{"id":245695,"text":"A state savings bank may be converted into a state bank upon compliance with the procedure set forth in subsection A of § 6.2-1144.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":245696,"text":"A state bank may be converted into a state savings bank by the amendment of its articles of incorporation in compliance with the procedure established by Title 13.1, provided that such conversion is approved in advance by the Commission. Prior to approving or disapproving a conversion, the Commission shall investigate the application to convert as if it were an application for a certificate of authority to begin a savings bank, and approval shall not be granted unless the applicant meets the standards established by § 6.2-1118. Within one year of the date of the conversion, the resulting state savings bank shall conform its assets and operations to the provisions of law regulating the operation of state savings banks. The Commission may grant such resulting state savings bank additional one-year periods, not to exceed a total of four additional years, in which to conform its assets and operations to the provisions of law regulating the operation of state savings banks.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14285,"edition_id":1,"name":"Bank Mergers and Conversions","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 03:47:36","date_modified":"2026-06-26 03:47:36","permalink":{"id":265441,"object_type":"structure","relational_id":14285,"identifier":"4","token":"6.2\/II\/8\/4","url":"\/6.2\/II\/8\/4\/","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":63809,"structure_id":14285,"section_number":"6.2-822","catch_line":"Merger and share exchange by state banks","url":"\/6.2-822\/","token":"6.2\/II\/8\/4\/6.2-822","metadata":false},{"id":84764,"structure_id":14285,"section_number":"6.2-823","catch_line":"Conversion of national banking association to state bank; certificate of authority","url":"\/6.2-823\/","token":"6.2\/II\/8\/4\/6.2-823","metadata":false},{"id":59646,"structure_id":14285,"section_number":"6.2-824","catch_line":"Status of converted bank","url":"\/6.2-824\/","token":"6.2\/II\/8\/4\/6.2-824","metadata":false},{"id":70477,"structure_id":14285,"section_number":"6.2-825","catch_line":"State bank becoming national bank; notice required; effect on liabilities","url":"\/6.2-825\/","token":"6.2\/II\/8\/4\/6.2-825","metadata":false},{"id":55555,"structure_id":14285,"section_number":"6.2-826","catch_line":"Effect of conversion of state bank to national bank","url":"\/6.2-826\/","token":"6.2\/II\/8\/4\/6.2-826","metadata":false},{"id":76999,"structure_id":14285,"section_number":"6.2-827","catch_line":"Rights of national bank stockholders dissenting from conversion","url":"\/6.2-827\/","token":"6.2\/II\/8\/4\/6.2-827","metadata":false},{"id":70763,"structure_id":14285,"section_number":"6.2-828","catch_line":"Conversion of state bank to federal savings institution","url":"\/6.2-828\/","token":"6.2\/II\/8\/4\/6.2-828","metadata":false},{"id":67840,"structure_id":14285,"section_number":"6.2-829","catch_line":"Conversion from state savings bank to state bank; conversion from state bank to state savings bank","url":"\/6.2-829\/","token":"6.2\/II\/8\/4\/6.2-829","metadata":false},{"id":68881,"structure_id":14285,"section_number":"6.2-830","catch_line":"Conversion from stock association to bank; conversion from bank to stock association","url":"\/6.2-830\/","token":"6.2\/II\/8\/4\/6.2-830","metadata":false}],"previous_section":{"id":70763,"structure_id":14285,"section_number":"6.2-828","catch_line":"Conversion of state bank to federal savings institution","url":"\/6.2-828\/","token":"6.2\/II\/8\/4\/6.2-828","metadata":false},"next_section":{"id":68881,"structure_id":14285,"section_number":"6.2-830","catch_line":"Conversion from stock association to bank; conversion from bank to stock association","url":"\/6.2-830\/","token":"6.2\/II\/8\/4\/6.2-830","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-829\/","history_text":"

This law was first created in 1991. The record of its establishment is cataloged in chapter 230 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 1991 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":[{"id":66708,"section_number":"6.2-1144","catch_line":"Conversion from stock savings institution to bank","order_by":null,"url":"\/6.2-1144\/"},{"id":77126,"section_number":"6.2-1202","catch_line":"Fees for supervision and regulation; investigations","order_by":null,"url":"\/6.2-1202\/"}],"refers_to":[{"id":57320,"section_number":"6.2-1118","catch_line":"Certificate of authority to do business","order_by":null,"url":"\/6.2-1118\/"}],"permalink":{"id":265471,"object_type":"law","relational_id":67840,"identifier":"6.2-829","token":"6.2\/II\/8\/4\/6.2-829","url":"\/6.2-829\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-829\/","token":"6.2\/II\/8\/4\/6.2-829","dublin_core":{"Title":"Conversion from state savings bank to state bank; conversion from state bank to state savings bank","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-829","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A state savings bank may be converted into a state bank<\/span> upon compliance with the procedure set forth in subsection A of § 6.2-1144<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A state bank<\/span> may be converted into a state savings bank by the amendment of its articles of incorporation in compliance with the procedure established by Title 13.1, provided that such conversion is approved in advance by the Commission<\/span>. Prior to approving or disapproving a conversion, the Commission<\/span> shall investigate the application to convert as if it were an application for a certificate of authority to begin a savings bank, and approval shall not be granted unless the applicant meets the standards established by § 6.2-1118<\/a>. Within one year of the date of the conversion, the resulting state savings bank shall conform its assets<\/span> and operations to the provisions of law<\/span> regulating the operation of state savings banks<\/span>. The Commission<\/span> may grant such resulting state savings bank additional one-year periods, not to exceed a total of four additional years, in which to conform its assets<\/span> and operations to the provisions of law<\/span> regulating the operation of state savings banks<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONVERSION FROM STATE SAVINGS BANK TO STATE BANK; CONVERSION FROM STATE BANK TO\nSTATE SAVINGS BANK (\u00a7 6.2-829)\n\nA. A state savings bank may be converted into a state bank upon compliance with\nthe procedure set forth in subsection A of § 6.2-1144.\n\nB. A state bank may be converted into a state savings bank by the amendment of\nits articles of incorporation in compliance with the procedure established by\nTitle 13.1, provided that such conversion is approved in advance by the\nCommission. Prior to approving or disapproving a conversion, the Commission\nshall investigate the application to convert as if it were an application for a\ncertificate of authority to begin a savings bank, and approval shall not be\ngranted unless the applicant meets the standards established by § 6.2-1118.\nWithin one year of the date of the conversion, the resulting state savings bank\nshall conform its assets and operations to the provisions of law regulating the\noperation of state savings banks. The Commission may grant such resulting state\nsavings bank additional one-year periods, not to exceed a total of four\nadditional years, in which to conform its assets and operations to the\nprovisions of law regulating the operation of state savings banks.\n\nHISTORY: 1991, c. 230, \u00a7 6.1-194.129; 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}}