                                 CODE OF VIRGINIA

ESTABLISHING OR ACQUIRING AN INTERSTATE TRUST OFFICE; ADDITIONAL TRUST OFFICES;
NOTICE OF CLOSURE (§ 6.2-1068)

A. An out-of-state trust institution that does not already maintain a trust
office in the Commonwealth and that meets the requirements of this article may:

   1. Establish and maintain a new trust office in the Commonwealth; or

   2. Acquire and maintain a trust office in the Commonwealth.

B. An out-of-state trust institution that maintains a trust office in the
Commonwealth under this article may establish or acquire additional trust
offices in the Commonwealth to the same extent that a state trust institution
may establish or acquire additional offices in the Commonwealth, provided it
follows the procedures for establishing or acquiring such offices set forth in
this article.

C. An out-of-state trust institution that maintains an office in the
Commonwealth under this article shall give at least 30 days&#8217; prior written
notice, or in the case of an emergency transaction, such shorter notice as is
consistent with applicable state or federal law, to the Commission of any
merger, consolidation, or other transaction involving the trust institution that
would cause any trust office operated by the institution in this state to be
maintained by another trust institution or cause the operation of such an office
to cease.

HISTORY: 1999, c. 835, §§ 6.1-32.36, 6.1-32.37, 6.1-32.42, 6.1-32.44; 2010, c.
794.