                                 CODE OF VIRGINIA

COMMISSIONS OR FEES FOR SALE OF STOCK NOT PERMITTED (§ 6.2-1021)

The Commission shall not issue a certificate of authority to a trust company if
any commissions, fees, brokerage, or other compensation by whatever name have
been paid or contracted to be paid by the trust company, or by anyone in its
behalf, directly or indirectly, to any person for the sale of stock in such
trust company. Nothing herein shall be construed to prohibit a trust company
that has been issued a certificate of authority and is conducting operations
from paying or contracting to pay such commissions or fees in connection with
the issue or reissue of shares of stock of the trust company.

HISTORY: 1994, c. 5, § 6.1-32.18:2; 2010, c. 794.