{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-830.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-830.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-830.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-830.html"}],"law_id":68881,"edition_id":1,"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","history":"1982, c. 224, \u00a7 6.1-195.57:2; 1985, c. 425, \u00a7 6.1-194.38; 2010, c. 794.","full_text":"A\n\nA state stock association may be converted into a bank upon compliance with the procedure set forth in § 6.2-1144.B\n\nA bank may be converted into a stock association 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 was an application for a certificate of authority to begin a savings and loan business, 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 stock association shall conform its assets and operations to the provisions of law regulating the operation of savings and loan associations. The Commission may grant such resulting stock association 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 savings and loan associations.","order_by":null,"text":{"0":{"id":249333,"text":"A state stock association may be converted into a bank upon compliance with the procedure set forth in § 6.2-1144.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":249334,"text":"A bank may be converted into a stock association 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 was an application for a certificate of authority to begin a savings and loan business, 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 stock association shall conform its assets and operations to the provisions of law regulating the operation of savings and loan associations. The Commission may grant such resulting stock association 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 savings and loan associations.","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":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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-830\/","history_text":"

This law was first created in 1982. The record of its establishment is cataloged in chapter 224 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 1982 \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 1985, chapter 425; 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\/"}],"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":265475,"object_type":"law","relational_id":68881,"identifier":"6.2-830","token":"6.2\/II\/8\/4\/6.2-830","url":"\/6.2-830\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-830\/","token":"6.2\/II\/8\/4\/6.2-830","dublin_core":{"Title":"Conversion from stock association to bank; conversion from bank to stock association","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-830","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

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

B.<\/span> A bank<\/span> may be converted into a stock association 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 was an application for a certificate of authority to begin a savings and loan business, 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 stock association shall conform its assets<\/span> and operations to the provisions of law<\/span> regulating the operation of savings and loan associations. The Commission<\/span> may grant such resulting stock association 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 savings and loan associations. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONVERSION FROM STOCK ASSOCIATION TO BANK; CONVERSION FROM BANK TO STOCK\nASSOCIATION (\u00a7 6.2-830)\n\nA. A state stock association may be converted into a bank upon compliance with\nthe procedure set forth in § 6.2-1144.\n\nB. A bank may be converted into a stock association by the amendment of its\narticles of incorporation in compliance with the procedure established by Title\n13.1, provided that such conversion is approved in advance by the Commission.\nPrior to approving or disapproving a conversion, the Commission shall\ninvestigate the application to convert as if it was an application for a\ncertificate of authority to begin a savings and loan business, and approval\nshall not be granted unless the applicant meets the standards established by\n§ 6.2-1118. Within one year of the date of the conversion, the resulting\nstock association shall conform its assets and operations to the provisions of\nlaw regulating the operation of savings and loan associations. The Commission\nmay grant such resulting stock association additional one-year periods, not to\nexceed a total of four additional years, in which to conform its assets and\noperations to the provisions of law regulating the operation of savings and loan\nassociations.\n\nHISTORY: 1982, c. 224, \u00a7 6.1-195.57:2; 1985, c. 425, \u00a7 6.1-194.38; 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}}