                                 CODE OF VIRGINIA

INTERSTATE BRANCHING BY VIRGINIA STATE BANKS (§ 6.2-837)

A. With the prior approval of the Commission, any Virginia state bank may
establish and maintain a de novo branch or acquire a branch in a state other
than the Commonwealth.

B. A Virginia state bank desiring to establish and maintain a branch in another
state under this section shall file an application on a form prescribed by the
Commission and pay the branch application fee set forth in &#xA7; 6.2-908. If
the Commission finds that the applicant has the financial resources sufficient
to undertake the proposed expansion without adversely affecting its soundness
and that the laws of the host state permit the establishment of the branch, it
may approve the application. The bank may establish the branch when it has
received the written approval of the Commission.

HISTORY: 1995, c. 301, § 6.1-44.3; 2010, c. 794; 2014, c. 200.