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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>84279</law_id><section_number>6.2-1040</section_number><catch_line>Unlawful use of terms indicating that business is trust company; penalty</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 id="A"><p><span class="prefix-number">A.</span> A <span class="dictionary">person</span> not authorized to engage in the <span class="dictionary">trust business</span> in the Commonwealth by the provisions of this title or under the <span class="dictionary">laws</span> of the United States, shall not (i) use any office sign having thereon any name or other words indicating that any such office is the office of a <span class="dictionary">trust company</span>; (ii) use or circulate any letterheads, billheads, blank notes, blank receipts, certificates, circulars or any written or printed paper, having thereon any name or word indicating that such <span class="dictionary">person</span> is a <span class="dictionary">trust company</span>; or (iii) use the word &#x201C;trust&#x201D; or the equivalent thereof in any foreign language, or the plural thereof in connection with any business other than a <span class="dictionary">trust business</span>. <a id="paragraph-302129" class="section-permalink" href="https://vacode.org/6.2-1040/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The foregoing prohibitions shall not apply to use by a <span class="dictionary">trust company holding company</span> of the word &#x201C;trust&#x201D; or the equivalent thereof in its name, or of a name similar to that of a <span class="dictionary">subsidiary trust company</span> of such <span class="dictionary">trust company holding company</span>. <a id="paragraph-302130" class="section-permalink" href="https://vacode.org/6.2-1040/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> The use of the above-mentioned words in the name of, or in connection with, any other business shall not be prohibited if the context or remaining words show clearly and definitely that the business is not a trust company, and is not carrying on a <span class="dictionary">trust business</span>. <a id="paragraph-302131" class="section-permalink" href="https://vacode.org/6.2-1040/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> Any <span class="dictionary">person</span> violating the provisions of this section, either individually or as an interested <span class="dictionary">party</span>, is guilty of a Class 6 <span class="dictionary">felony</span>. <a id="paragraph-302132" class="section-permalink" href="https://vacode.org/6.2-1040/#D"><i class="fa fa-link"/></a></p></section></text><history>Code 1950, &#xA7; 6-134; 1966, c. 584, &#xA7; 6.1-112; 1972, c. 187; 1992, cc. 24, 136; 2000, c. 56; 2003, c. 592; 2010, c. 794.</history><metadata></metadata></law>
