                                 CODE OF VIRGINIA

INTERSTATE TRUST OFFICES BY VIRGINIA STATE BANKS (§ 6.2-1066)

A. With the prior approval of the Commission, any Virginia state bank or state
trust company may establish a new trust office or acquire a trust office in a
state other than the Commonwealth.

B. A Virginia state bank or state trust company desiring to establish and
maintain a trust office in another state under this section shall file an
application or notice on a form prescribed by the Commission and pay the branch
application fee set forth in subdivision B 3 of &#xA7; 6.2-908. If the
Commission finds that the applicant has the financial resources sufficient to
undertake the proposed expansion without adversely affecting its soundness and
that the laws of the host state permit the establishment of the trust office, it
may approve the application. In acting on the application, the Commission shall
consider the views of the state bank supervisor of the host state where the
trust office is proposed to be located.

HISTORY: 1999, c. 835, § 6.1-32.33; 2010, c. 794.