{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-863.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-863.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-863.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-863.html"}],"law_id":75199,"edition_id":1,"section_id":75199,"structure_id":13792,"section_number":"6.2-863","catch_line":"Oaths of directors","history":"Code 1950, \u00a7 6-39; 1966, c. 584, \u00a7 6.1-48; 1992, c. 552; 1994, c. 105; 2010, c. 794; 2014, cc. 156, 219.","full_text":"A\n\nEvery director of a bank incorporated under the laws of the Commonwealth shall, within 30 days after his election or reelection, take and subscribe to an oath that:1\n\nHe will diligently and honestly perform his duties as director; and2\n\nHe is the owner and has in his personal possession or control, standing in his sole name on the books of the bank or bank holding company as defined in subsection A of § 6.2-862, unpledged and unencumbered in any way, shares of stock of the bank of which he is a director or, if a bank is controlled by a bank holding company as defined in § 6.2-800, shares of stock of the bank holding company, having a book value of not less than the amounts respectively prescribed by § 6.2-862, and, in case of reelection or reappointment, that during the whole of his immediate previous term as a director, the stock was not at any time pledged or in any other manner encumbered or hypothecated to secure a loan.B\n\nThe oath subscribed to by such director, certified by the officer before whom it is taken, shall be transmitted by the cashier of such bank to the Commission. Any director who fails for a period of 30 days after his election or appointment to take the oath as required by this section shall automatically forfeit his office.","order_by":null,"text":{"0":{"id":270026,"text":"Every director of a bank incorporated under the laws of the Commonwealth shall, within 30 days after his election or reelection, take and subscribe to an oath that:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":270027,"text":"He will diligently and honestly perform his duties as director; and","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":270028,"text":"He is the owner and has in his personal possession or control, standing in his sole name on the books of the bank or bank holding company as defined in subsection A of § 6.2-862, unpledged and unencumbered in any way, shares of stock of the bank of which he is a director or, if a bank is controlled by a bank holding company as defined in § 6.2-800, shares of stock of the bank holding company, having a book value of not less than the amounts respectively prescribed by § 6.2-862, and, in case of reelection or reappointment, that during the whole of his immediate previous term as a director, the stock was not at any time pledged or in any other manner encumbered or hypothecated to secure a loan.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"B"},"3":{"id":270029,"text":"The oath subscribed to by such director, certified by the officer before whom it is taken, shall be transmitted by the cashier of such bank to the Commission. Any director who fails for a period of 30 days after his election or appointment to take the oath as required by this section shall automatically forfeit his office.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A2"}},"ancestry":[{"id":13792,"edition_id":1,"name":"Directors and Officers; Dividends","identifier":"8","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 03:45:53","date_modified":"2026-06-26 03:45:53","permalink":{"id":265601,"object_type":"structure","relational_id":13792,"identifier":"8","token":"6.2\/II\/8\/8","url":"\/6.2\/II\/8\/8\/","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":72617,"structure_id":13792,"section_number":"6.2-860","catch_line":"Bank to be managed by board of directors; number of directors","url":"\/6.2-860\/","token":"6.2\/II\/8\/8\/6.2-860","metadata":false},{"id":84782,"structure_id":13792,"section_number":"6.2-861","catch_line":"Application of Virginia Stock Corporation Act","url":"\/6.2-861\/","token":"6.2\/II\/8\/8\/6.2-861","metadata":false},{"id":64096,"structure_id":13792,"section_number":"6.2-862","catch_line":"Directors to own stock in bank","url":"\/6.2-862\/","token":"6.2\/II\/8\/8\/6.2-862","metadata":false},{"id":75199,"structure_id":13792,"section_number":"6.2-863","catch_line":"Oaths of directors","url":"\/6.2-863\/","token":"6.2\/II\/8\/8\/6.2-863","metadata":false},{"id":72831,"structure_id":13792,"section_number":"6.2-864","catch_line":"Report to Commission of election of director","url":"\/6.2-864\/","token":"6.2\/II\/8\/8\/6.2-864","metadata":false},{"id":63998,"structure_id":13792,"section_number":"6.2-865","catch_line":"Removal of director or officer; appeals; penalty","url":"\/6.2-865\/","token":"6.2\/II\/8\/8\/6.2-865","metadata":false},{"id":56603,"structure_id":13792,"section_number":"6.2-866","catch_line":"Meetings of board of directors","url":"\/6.2-866\/","token":"6.2\/II\/8\/8\/6.2-866","metadata":false},{"id":63140,"structure_id":13792,"section_number":"6.2-867","catch_line":"Discount by officer, director, or employee of paper refused by bank","url":"\/6.2-867\/","token":"6.2\/II\/8\/8\/6.2-867","metadata":false},{"id":70091,"structure_id":13792,"section_number":"6.2-868","catch_line":"Bonds required of officers and employees; blanket bond","url":"\/6.2-868\/","token":"6.2\/II\/8\/8\/6.2-868","metadata":false},{"id":54800,"structure_id":13792,"section_number":"6.2-869","catch_line":"Dividends; surplus; undivided profits","url":"\/6.2-869\/","token":"6.2\/II\/8\/8\/6.2-869","metadata":false}],"previous_section":{"id":64096,"structure_id":13792,"section_number":"6.2-862","catch_line":"Directors to own stock in bank","url":"\/6.2-862\/","token":"6.2\/II\/8\/8\/6.2-862","metadata":false},"next_section":{"id":72831,"structure_id":13792,"section_number":"6.2-864","catch_line":"Report to Commission of election of director","url":"\/6.2-864\/","token":"6.2\/II\/8\/8\/6.2-864","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-863\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 5 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 1992, chapter 552; in 1994, chapter 105<\/a>; in 2010, chapter 794<\/a>; in 2014, chapters 156<\/a> and 219<\/a>.<\/p>","references":[{"id":72786,"section_number":"6.2-816","catch_line":"Banks to obtain certificate of authority","order_by":null,"url":"\/6.2-816\/"}],"refers_to":[{"id":86656,"section_number":"6.2-800","catch_line":"Definitions","order_by":null,"url":"\/6.2-800\/"},{"id":64096,"section_number":"6.2-862","catch_line":"Directors to own stock in bank","order_by":null,"url":"\/6.2-862\/"}],"permalink":{"id":265615,"object_type":"law","relational_id":75199,"identifier":"6.2-863","token":"6.2\/II\/8\/8\/6.2-863","url":"\/6.2-863\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-863\/","token":"6.2\/II\/8\/8\/6.2-863","dublin_core":{"Title":"Oaths of directors","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-863","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Every director of a bank<\/span> incorporated under the laws<\/span> of the Commonwealth shall, within 30 days after his election or reelection, take and subscribe to an oath<\/span> that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> He will diligently and honestly perform his duties as director; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> He is the owner and has in his personal possession<\/span> or control, standing in his sole name on the books of the bank or bank holding company<\/span> as defined in subsection A of § 6.2-862<\/a>, unpledged and unencumbered in any way, shares of stock of the bank of which he is a director or, if a bank is controlled by a bank holding company<\/span> as defined in § 6.2-800<\/a>, shares of stock of the bank holding company<\/span>, having a book value of not less than the amounts respectively prescribed by § 6.2-862<\/a>, and, in case of reelection or reappointment, that during the whole of his immediate previous term as a director, the stock was not at any time pledged or in any other manner encumbered or hypothecated to secure a loan. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The oath<\/span> subscribed to by such director, certified by the officer before whom it is taken, shall be transmitted by the cashier of such bank to the Commission<\/span>. Any director who fails for a period of 30 days after his election or appointment to take the oath<\/span> as required by this section shall automatically forfeit his office. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nOATHS OF DIRECTORS (\u00a7 6.2-863)\n\nA. Every director of a bank incorporated under the laws of the Commonwealth\nshall, within 30 days after his election or reelection, take and subscribe to an\noath that:\n\n 1. He will diligently and honestly perform his duties as director; and\n\n 2. He is the owner and has in his personal possession or control, standing in\n his sole name on the books of the bank or bank holding company as defined in\n subsection A of § 6.2-862, unpledged and unencumbered in any way, shares\n of stock of the bank of which he is a director or, if a bank is controlled by\n a bank holding company as defined in § 6.2-800, shares of stock of the\n bank holding company, having a book value of not less than the amounts\n respectively prescribed by § 6.2-862, and, in case of reelection or\n reappointment, that during the whole of his immediate previous term as a\n director, the stock was not at any time pledged or in any other manner\n encumbered or hypothecated to secure a loan.\n\nB. The oath subscribed to by such director, certified by the officer before whom\nit is taken, shall be transmitted by the cashier of such bank to the Commission.\nAny director who fails for a period of 30 days after his election or appointment\nto take the oath as required by this section shall automatically forfeit his\noffice.\n\nHISTORY: Code 1950, \u00a7 6-39; 1966, c. 584, \u00a7 6.1-48; 1992, c. 552; 1994, c.\n105; 2010, c. 794; 2014, cc. 156, 219.","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}}