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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>54494</law_id><section_number>6.2-1150</section_number><catch_line>When operation of foreign savings institution in the Commonwealth is prohibited</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="11">Savings Institutions</unit><unit label="article" level="4" order_by="1" identifier="5">Foreign Savings Institutions; Acquisitions by Out-Of-State Savings Institutions or Out-Of-State Savings Institution Holding Companies</unit></structure><text>
						<section><p>When the <span class="dictionary">laws</span>, regulations or administrative actions of another state prohibit or unfairly impede a <span class="dictionary">state savings institution</span> from transacting business in that state, then the <span class="dictionary">savings institutions</span> of that state are prohibited from transacting business in the Commonwealth.</p></section></text><history>1985, c. 425, &#xA7; 6.1-194.42; 1994, c. 353; 2010, c. 794.</history><metadata></metadata></law>
