                                 CODE OF VIRGINIA

EXAMINATION AND SUPERVISION OF FOREIGN SAVINGS INSTITUTIONS (§ 6.2-1153)

A. Each foreign savings institution authorized to transact business in the
Commonwealth shall furnish to the Commissioner a copy of all periodic reports of
examinations of the institution conducted by all supervisory agencies that
examine the institution to determine its financial soundness. Such reports shall
include the examination reports of the Federal Deposit Insurance Corporation or
other federal examining agency. Such report copies shall be furnished to the
Commissioner within 10 days after the institution receives the report and shall
be in certified form or such other form as is acceptable to the Commissioner. In
determining whether such institution is in sound financial condition, the
Commissioner shall be entitled to rely solely on such examination reports.

B. The Commission shall enter into cooperative agreements with other supervisory
authorities for purposes of determining the financial soundness of the foreign
savings institutions doing business in the Commonwealth. The Commission may
enter into joint actions with other supervisory authorities having concurrent
jurisdiction over foreign savings institutions doing business in the
Commonwealth or may take such actions independently to carry out its
responsibilities under this chapter and assure compliance with the provisions of
this chapter and other applicable financial institution laws of the
Commonwealth.

HISTORY: 1985, c. 425, § 6.1-194.45; 1990, c. 3; 2010, c. 794.