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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>83617</law_id><section_number>58.1-1201</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>58.1-1207</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="58.1">Taxation</unit><unit label="subtitle" level="2" order_by="1" identifier="I">Taxes Administered by the Department of Taxation</unit><unit label="chapter" level="3" order_by="1" identifier="12">Bank Franchise Tax</unit></structure><text>
						<section><p>As used in this chapter, unless the context clearly shows otherwise, the term or phrase:
		&#x201C;Bank&#x201D; means any incorporated bank, banking association, savings bank that is a member of the Federal Reserve System, or trust company organized by or under the authority of the <span class="dictionary">laws</span> of the Commonwealth and any bank or banking association organized by or under the authority of the <span class="dictionary">laws</span> of the United States, doing business or having an office in the Commonwealth or having a charter which designates any place within the Commonwealth as the place of its principal office, and any bank which establishes and maintains a branch in this Commonwealth under Article 6 (&#xA7;&#xA0;<a class="law" title="Definitions" href="/6.2-836/">6.2-836</a> et seq.) of Title 6.2 or Article 7 (&#xA7;&#xA0;<a class="law" title="Definitions" href="/6.2-849/">6.2-849</a> et seq.) of Title 6.2, whether such bank or banking association is authorized to transact business as a trust company or not, and any joint stock land bank or any other bank organized by or under the authority of the <span class="dictionary">laws</span> of the United States upon which the Commonwealth is authorized to impose a tax. The term shall exclude all corporations organized under the <span class="dictionary">laws</span> of other states and doing business in the Commonwealth, corporations organized not as <span class="dictionary">banks</span> under the <span class="dictionary">laws</span> of the Commonwealth and all natural persons and partnerships.
		&#x201C;<span class="dictionary">Bank holding company</span>&#x201D; means any corporation that is organized under the <span class="dictionary">laws</span> of Virginia, is doing business in the Commonwealth, and is a <span class="dictionary">bank holding company</span> under the provisions of the Federal <span class="dictionary">Bank Holding Company</span> Act of 1956.</p></section></text><history>Code 1950, &#xA7;&#xA7; 58-485.01, 58-485.02; 1980, c. 578; 1984, c. 675; 1995, c. 301; 2002, c. 29.</history><metadata></metadata></law>
