                                 CODE OF VIRGINIA

ACTIVITIES THAT ARE NOT CONSIDERED &#8220;DOING BUSINESS.&#8221; (§ 6.2-1156)

For the purposes of this chapter and any other law of the Commonwealth
prohibiting, limiting, regulating, charging or taxing the doing of business in
the Commonwealth by foreign savings institutions or foreign corporations of any
type, any federal savings institution the principal place of business of which
is located outside the Commonwealth, and any foreign savings institution that is
subject to state or federal supervision, or both, that by law is subject to
periodic examination by such supervisory authority and to a requirement of
periodic audit, shall not be considered to be doing business or to have a tax
situs or nexus in or with the Commonwealth by reason of engaging in any of the
following activities:

1. The purchase, acquisition, inspection, appraisement, holding, sale,
assignment, transfer, collecting, and enforcement of obligations or any interest
therein secured by real estate mortgages, deeds of trust, or other similar
instruments, covering real property located in the Commonwealth, or the
foreclosure of such instruments, or the acquisition of title to such property by
foreclosure, or otherwise, as a result of default under such instruments, or the
holding, protection, rental, maintenance and operation of said property so
acquired, or the disposition thereof; or

2. The advertising or solicitation of deposit accounts, or the making of any
representations with respect thereto in the Commonwealth through the media of
the mail, radio, television, magazines, newspapers, or any other media that are
published or circulated within the Commonwealth, if (i) such advertising,
solicitation or the making of such representations is accurately descriptive of
fact and (ii) no such advertising, solicitation, or the making of such
representations contains any reference to insurance or guarantee of accounts,
unless the accounts of such institution are insured by the Federal Deposit
Insurance Corporation or other insurer approved by the Commissioner.

HISTORY: 1985, c. 425, § 6.1-194.48; 1990, c. 3; 2010, c. 794.