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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>70604</law_id><section_number>6.2-1065</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>6.2-1001</reference></referred_to_by><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="4">Multistate Trust Institutions</unit></structure><text>
						<section><p>As used in this article, unless the context requires a different meaning:
		&#x201C;<span class="dictionary">Acquisition of a trust office</span>&#x201D; means the <span class="dictionary">acquisition of a trust office</span> located in a <span class="dictionary">host state</span>, without acquiring the trust institution of such office.
		&#x201C;Bank&#x201D; has the meaning assigned to it in 12 U.S.C. &#xA7;&#xA0;1813 (a)(1) of the Federal Deposit Insurance Company Act of 1956 (12 U.S.C. &#xA7;&#xA0;1811 et seq.), as amended.
		&#x201C;Bank supervisory agency&#x201D; means: (i) any agency of another state with primary responsibility for chartering and supervising a trust institution and (ii) the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, or the Board of Governors of the Federal Reserve System and any successor to these agencies.
		&#x201C;Home state&#x201D; means (i) with respect to a federally chartered trust institution, the state where such institution maintains its <span class="dictionary">principal office</span> and (ii) with respect to any other trust institution, the state that chartered such institution.
		&#x201C;<span class="dictionary">Home state regulator</span>&#x201D; means the bank supervisory agency with primary responsibility for chartering and supervising an <span class="dictionary">out-of-<span class="dictionary">state trust institution</span></span>.
		&#x201C;<span class="dictionary">Host state</span>&#x201D; means a state, other than the home state of a trust institution, in which the trust institution maintains or seeks to acquire or establish an office.
		&#x201C;<span class="dictionary">New trust office</span>&#x201D; means a trust office located in a <span class="dictionary">host state</span> that (i) is originally established by the trust institution as a trust office and (ii) does not become a trust office of the trust institution as a result of (a) the acquisition of another trust institution or trust office of another trust institution or (b) a merger, <span class="dictionary">consolidation</span>, or conversion involving any such trust institution or trust office.
		&#x201C;Office&#x201D; with respect to a trust institution means the <span class="dictionary">principal office</span> or a trust office, but not a branch.
		&#x201C;<span class="dictionary">Out-of-state bank</span>&#x201D; means a bank chartered to act as a fiduciary whose home state is a state other than the Commonwealth.
		&#x201C;<span class="dictionary">Out-of-<span class="dictionary">state trust company</span></span>&#x201D; means a trust company or <span class="dictionary">trust subsidiary</span> whose home state is a state other than the Commonwealth.
		&#x201C;<span class="dictionary">Out-of-<span class="dictionary">state trust institution</span></span>&#x201D; means a trust institution whose home state is a state other than the Commonwealth.
		&#x201C;<span class="dictionary">Principal office</span>&#x201D; with respect to (i) a <span class="dictionary">state trust company</span>, means a location designated by such trust company as its main office pursuant to &#xA7;&#xA0;<a class="law" title="Offices" href="/6.2-1028/">6.2-1028</a> or <a class="law" title="Definitions" href="/6.2-1047/">6.2-1047</a> or (ii) a trust institution other than a <span class="dictionary">state trust company</span>, means its principal place of business in the United States.
		&#x201C;State bank&#x201D; or &#x201C;<span class="dictionary">Virginia state bank</span>&#x201D; means a bank chartered under the <span class="dictionary">laws</span> of the Commonwealth and permitted to engage in the <span class="dictionary">trust business</span> pursuant to &#xA7;&#xA0;<a class="law" title="Authority to engage in trust business; permission of Commission required" href="/6.2-819/">6.2-819</a>.
		&#x201C;<span class="dictionary">State trust company</span>&#x201D; means a corporation organized or reorganized as a trust company under Article 2 (&#xA7;&#xA0;<a class="law" title="Definitions" href="/6.2-1013/">6.2-1013</a> et seq.) or Article 3 (&#xA7;&#xA0;<a class="law" title="Definitions" href="/6.2-1047/">6.2-1047</a> et seq.) of this chapter.
		&#x201C;<span class="dictionary">State trust institution</span>&#x201D; means a trust institution having its <span class="dictionary">principal office</span> in the Commonwealth.
		&#x201C;Trust company&#x201D; means a <span class="dictionary">state trust company</span> or any other <span class="dictionary">entity</span> chartered to act as a fiduciary that is not a bank.
		&#x201C;Trust institution&#x201D; means a bank or trust company chartered by a state bank supervisory agency or by the Office of the Comptroller of Currency.
		&#x201C;Trust office&#x201D; means an office at which a trust institution engages in a <span class="dictionary">trust business</span> and not in the banking business.</p></section></text><history>1999, c. 835, &#xA7; 6.1-32.32; 2010, c. 794.</history><metadata></metadata></law>
