                                 CODE OF VIRGINIA

FEDERAL INSURANCE OF DEPOSITS REQUIRED FOR ALL BANKS OR SAVINGS INSTITUTIONS (§
6.2-601)

Notwithstanding any other provisions contained in this title, no bank or savings
institution doing business in the Commonwealth shall accept deposits unless its
deposit accounts are insured by the Federal Deposit Insurance Corporation or
other federal insurance agency, up to the limits of the insurance provided
thereby. No bank or savings institution shall solicit deposits in the
Commonwealth, nor shall any other person solicit or accept deposits in the
Commonwealth on behalf of a bank or savings institution, unless the deposit
accounts of such bank or savings institution are insured by the Federal Deposit
Insurance Corporation or other federal insurance agency, up to the limits of the
insurance provided thereby.

HISTORY: 1986, c. 500, § 6.1-2.9:4; 1990, c. 3; 1996, c. 16; 2010, c. 794.