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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>83326</law_id><section_number>6.2-1035</section_number><catch_line>Audits</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Depository Institutions and Trust Organizations</unit><unit label="chapter" level="3" order_by="1" identifier="10">Entities Conducting Trust Business</unit><unit label="article" level="4" order_by="1" identifier="2">Trust Companies</unit></structure><text>
						<section><p>The <span class="dictionary">Commission</span> may require trust companies or trust company holding companies to have audits made of their books, records, and methods of operation annually. The <span class="dictionary">Commission</span> may require such audits to be conducted at any other time that it appears to the <span class="dictionary">Commission</span> that (i) the internal <span class="dictionary">controls</span> of a trust company or <span class="dictionary">trust company holding company</span> are not adequate, (ii) it is engaging in unsound practices, or (iii) its financial condition makes such audit necessary.</p></section></text><history>1993, c. 432, &#xA7; 6.1-32.27; 1995, c. 140; 2010, c. 794.</history><metadata></metadata></law>
