                                 CODE OF VIRGINIA

COMMISSIONS AND OTHER FEES FOR SALE OF STOCK NOT PERMITTED (§ 6.2-1119)

The Commission shall not issue a certificate of authority to any state savings
institution to commence business if commissions, fees, brokerage, or other
compensation, however designated, have been paid or contracted to be paid by the
savings institution or by anyone in its behalf, either directly or indirectly,
to any person for the sale of stock in such savings institution. This section
shall not be construed to prohibit a savings institution that has been issued a
certificate of authority and has commenced operations from paying or contracting
to pay such commissions or fees in connection with the issue or reissue of
shares of stock of the savings institution.

HISTORY: 1985, c. 425, § 6.1-194.13; 1991, c. 230, § 6.1-194.115; 2010, c.
794.