                                 CODE OF VIRGINIA

SEPARATION OF BANKING AND TRUST FUNCTIONS; ESTABLISHMENT OF TRUST DEPARTMENT (§
6.2-821)

Every state bank that obtains permission from the Commission to engage in trust
business shall establish a separate trust department. Such department shall be
established before such institution undertakes to act in any fiduciary capacity
and shall be placed under the management of an officer or officers whose duties
shall be prescribed by the board of directors of the institution or by either an
amendment to the bylaws of the institution or by a resolution duly entered in
the minutes of the board of directors.

HISTORY: Code 1950, § 6-97; 1966, c. 584, § 6.1-20; 1993, c. 432; 2010, c.
794.