{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-899.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-899.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-899.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-899.html"}],"law_id":81198,"edition_id":1,"section_id":81198,"structure_id":15012,"section_number":"6.2-899","catch_line":"Examination of affiliates","history":"Code 1950, \u00a7 6-107; 1966, c. 584, \u00a7 6.1-85; 2010, c. 794.","full_text":"A\n\nAs used in this section, “affiliate” of any bank means any entity (i) of which such bank, directly or indirectly, owns or controls either a majority of the voting shares or more than 50 percent of the number of shares voted for the election of its directors, trustees, or other persons exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions, (ii) of which control is held, directly or indirectly, through stock ownership or in any other manner, by the shareholders of such bank who own or control either a majority of the shares of such bank or more than 50 percent of the number of shares voted for the election of directors of such bank at the preceding election, or by trustees for the benefit of the shareholders of any such bank, or (iii) of which a majority of the directors, trustees, or other persons exercising similar functions are directors of such bank.B\n\nThe Commission, in connection with the examination of any bank, may make or cause to be made such examination of the affiliates of the bank as shall be necessary to ascertain the financial condition of the bank and to disclose fully the relations between the bank and its affiliates and the effect of such relations upon the affairs of the bank.","order_by":null,"text":{"0":{"id":291027,"text":"As used in this section, “affiliate” of any bank means any entity (i) of which such bank, directly or indirectly, owns or controls either a majority of the voting shares or more than 50 percent of the number of shares voted for the election of its directors, trustees, or other persons exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions, (ii) of which control is held, directly or indirectly, through stock ownership or in any other manner, by the shareholders of such bank who own or control either a majority of the shares of such bank or more than 50 percent of the number of shares voted for the election of directors of such bank at the preceding election, or by trustees for the benefit of the shareholders of any such bank, or (iii) of which a majority of the directors, trustees, or other persons exercising similar functions are directors of such bank.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":291028,"text":"The Commission, in connection with the examination of any bank, may make or cause to be made such examination of the affiliates of the bank as shall be necessary to ascertain the financial condition of the bank and to disclose fully the relations between the bank and its affiliates and the effect of such relations upon the affairs of the bank.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":15012,"edition_id":1,"name":"Examinations and Reports","identifier":"12","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 03:51:30","date_modified":"2026-06-26 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affiliates","url":"\/6.2-899\/","token":"6.2\/II\/8\/12\/6.2-899","metadata":false},{"id":61972,"structure_id":15012,"section_number":"6.2-900","catch_line":"Special examinations","url":"\/6.2-900\/","token":"6.2\/II\/8\/12\/6.2-900","metadata":false},{"id":63679,"structure_id":15012,"section_number":"6.2-901","catch_line":"Assistance in making examinations","url":"\/6.2-901\/","token":"6.2\/II\/8\/12\/6.2-901","metadata":false},{"id":78670,"structure_id":15012,"section_number":"6.2-902","catch_line":"Notice of examination","url":"\/6.2-902\/","token":"6.2\/II\/8\/12\/6.2-902","metadata":false},{"id":78909,"structure_id":15012,"section_number":"6.2-903","catch_line":"Revaluation of assets after examination","url":"\/6.2-903\/","token":"6.2\/II\/8\/12\/6.2-903","metadata":false},{"id":69178,"structure_id":15012,"section_number":"6.2-904","catch_line":"Report of examination; inspection and dissemination to directors","url":"\/6.2-904\/","token":"6.2\/II\/8\/12\/6.2-904","metadata":false},{"id":71797,"structure_id":15012,"section_number":"6.2-905","catch_line":"Communications to board or executive committee","url":"\/6.2-905\/","token":"6.2\/II\/8\/12\/6.2-905","metadata":false},{"id":63130,"structure_id":15012,"section_number":"6.2-906","catch_line":"Disclosure of irregularities; Commission's powers","url":"\/6.2-906\/","token":"6.2\/II\/8\/12\/6.2-906","metadata":false},{"id":83204,"structure_id":15012,"section_number":"6.2-907","catch_line":"Reports of condition and other statements","url":"\/6.2-907\/","token":"6.2\/II\/8\/12\/6.2-907","metadata":false},{"id":62085,"structure_id":15012,"section_number":"6.2-908","catch_line":"Fees for supervision and regulation and for certain examinations and investigations","url":"\/6.2-908\/","token":"6.2\/II\/8\/12\/6.2-908","metadata":false},{"id":57247,"structure_id":15012,"section_number":"6.2-909","catch_line":"Assessment and payment of fees; lien","url":"\/6.2-909\/","token":"6.2\/II\/8\/12\/6.2-909","metadata":false},{"id":58897,"structure_id":15012,"section_number":"6.2-910","catch_line":"Reduction of fees","url":"\/6.2-910\/","token":"6.2\/II\/8\/12\/6.2-910","metadata":false},{"id":66031,"structure_id":15012,"section_number":"6.2-911","catch_line":"Examination of national banks","url":"\/6.2-911\/","token":"6.2\/II\/8\/12\/6.2-911","metadata":false}],"previous_section":{"id":78192,"structure_id":15012,"section_number":"6.2-898","catch_line":"Examinations","url":"\/6.2-898\/","token":"6.2\/II\/8\/12\/6.2-898","metadata":false},"next_section":{"id":61972,"structure_id":15012,"section_number":"6.2-900","catch_line":"Special examinations","url":"\/6.2-900\/","token":"6.2\/II\/8\/12\/6.2-900","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-899\/","history_text":"

The record of this law\u2019s original creation isn\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 1966, chapter 584; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":74671,"section_number":"6.2-886","catch_line":"Regulation of controlled subsidiary corporations by Commission","order_by":null,"url":"\/6.2-886\/"},{"id":63679,"section_number":"6.2-901","catch_line":"Assistance in making examinations","order_by":null,"url":"\/6.2-901\/"}],"refers_to":false,"permalink":{"id":265147,"object_type":"law","relational_id":81198,"identifier":"6.2-899","token":"6.2\/II\/8\/12\/6.2-899","url":"\/6.2-899\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-899\/","token":"6.2\/II\/8\/12\/6.2-899","dublin_core":{"Title":"Examination of affiliates","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-899","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section, “affiliate<\/span>” of any bank<\/span> means any entity<\/span> (i) of which such bank<\/span>, directly or indirectly, owns or controls either a majority of the voting shares or more than 50 percent of the number of shares voted for the election of its directors, trustees, or other persons<\/span> exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons<\/span> exercising similar functions, (ii) of which control is held, directly or indirectly, through stock ownership or in any other manner, by the shareholders of such bank<\/span> who own or control either a majority of the shares of such bank<\/span> or more than 50 percent of the number of shares voted for the election of directors of such bank<\/span> at the preceding election, or by trustees for the benefit of the shareholders of any such bank<\/span>, or (iii) of which a majority of the directors, trustees, or other persons<\/span> exercising similar functions are directors of such bank<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span>, in connection with the examination of any bank<\/span>, may make or cause to be made such examination of the affiliates<\/span> of the bank<\/span> as shall be necessary to ascertain the financial condition of the bank<\/span> and to disclose fully the relations between the bank<\/span> and its affiliates<\/span> and the effect of such relations upon the affairs of the bank<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXAMINATION OF AFFILIATES (\u00a7 6.2-899)\n\nA. As used in this section, “affiliate” of any bank means any entity\n(i) of which such bank, directly or indirectly, owns or controls either a\nmajority of the voting shares or more than 50 percent of the number of shares\nvoted for the election of its directors, trustees, or other persons exercising\nsimilar functions at the preceding election, or controls in any manner the\nelection of a majority of its directors, trustees, or other persons exercising\nsimilar functions, (ii) of which control is held, directly or indirectly,\nthrough stock ownership or in any other manner, by the shareholders of such bank\nwho own or control either a majority of the shares of such bank or more than 50\npercent of the number of shares voted for the election of directors of such bank\nat the preceding election, or by trustees for the benefit of the shareholders of\nany such bank, or (iii) of which a majority of the directors, trustees, or other\npersons exercising similar functions are directors of such bank.\n\nB. The Commission, in connection with the examination of any bank, may make or\ncause to be made such examination of the affiliates of the bank as shall be\nnecessary to ascertain the financial condition of the bank and to disclose fully\nthe relations between the bank and its affiliates and the effect of such\nrelations upon the affairs of the bank.\n\nHISTORY: Code 1950, \u00a7 6-107; 1966, c. 584, \u00a7 6.1-85; 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}}