Virginia Decodedhttps://vacode.org724486.2-1020Certain transactions by affiliated trust companies prohibited2025Financial Institutions and ServicesDepository Institutions and Trust OrganizationsEntities Conducting Trust BusinessTrust Companies

An affiliated trust company shall not:

1. During the underwriting period, purchase from an affiliated broker-dealer, for any trust account or for its own account, any security that is being underwritten by that broker-dealer; or

2. Purchase for any trust account or for its own account any security that is issued by a company that owns five percent or more of the capital stock of, or is affiliated with, the affiliated trust company.

1994, c. 524, § 6.1-32.14:2; 1995, c. 140; 2010, c. 794.