                                 CODE OF VIRGINIA

MEDICAL SAVINGS ACCOUNTS AND HEALTH SAVINGS ACCOUNTS (§ 6.2-603)

To the extent allowed by federal law, a bank, insured savings institution, or
credit union may act as a trustee or custodian of health savings accounts
established with financial institutions under § 223 of the United States
Internal Revenue Code of 1986, as amended from time to time, and medical savings
accounts established with financial institutions under § 220 of the United
States Internal Revenue Code of 1986, as amended from time to time.
Contributions may be accepted and interest thereon retained by such institution
pursuant to forms provided by it and may be invested in accounts of the
institution in accordance with the terms upon which such contributions were
accepted. The financial institution shall administer such accounts in accordance
with the requirements of federal law.

HISTORY: 1999, c. 331, § 6.1-2.9:8; 2005, cc. 503, 572; 2010, c. 794.