                                 CODE OF VIRGINIA

PERIODIC REPORTS; INTERSTATE AGREEMENTS (§ 6.2-1162)

A. The Commission may examine any out-of-state savings institution holding
company owning a Virginia savings institution and each of its Virginia or
non-Virginia savings institution or nonsavings institution subsidiaries and
shall require reports of each savings institution holding company subject to
this chapter. Such reports shall be filed under oath with such frequency and in
such scope and detail as may be appropriate for the purpose of assuring
continuing compliance with the provisions of this chapter.

B. Prior to approving an acquisition under the provisions of this article, the
Commission shall enter into cooperative agreements with the appropriate
regulatory authorities for the periodic examination of any savings institution
holding company that has a Virginia savings institution subsidiary or any
subsidiary of such holding company and may accept reports of examination and
other records from such authorities in lieu of conducting its own examinations.
The Commission may enter into joint actions with other regulatory authorities
having concurrent jurisdiction over any savings institution holding company that
has a Virginia savings institution subsidiary or may take such actions
independently to carry out its responsibilities under this chapter, assure the
safety and soundness of any Virginia savings institution, and assure compliance
with the provisions of this chapter and the applicable savings institution laws
of the Commonwealth.

HISTORY: 1985, c. 425, § 6.1-194.103; 1994, c. 353; 2010, c. 794.