                                 CODE OF VIRGINIA

OATHS OF DIRECTORS (§ 6.2-863)

A. Every director of a bank incorporated under the laws of the Commonwealth
shall, within 30 days after his election or reelection, take and subscribe to an
oath that:

   1. He will diligently and honestly perform his duties as director; and

   2. He is the owner and has in his personal possession or control, standing in
   his sole name on the books of the bank or bank holding company as defined in
   subsection A of &#xA7; 6.2-862, unpledged and unencumbered in any way, shares
   of stock of the bank of which he is a director or, if a bank is controlled by
   a bank holding company as defined in &#xA7; 6.2-800, shares of stock of the
   bank holding company, having a book value of not less than the amounts
   respectively prescribed by &#xA7; 6.2-862, and, in case of reelection or
   reappointment, that during the whole of his immediate previous term as a
   director, the stock was not at any time pledged or in any other manner
   encumbered or hypothecated to secure a loan.

B. The oath subscribed to by such director, certified by the officer before whom
it is taken, shall be transmitted by the cashier of such bank to the Commission.
Any director who fails for a period of 30 days after his election or appointment
to take the oath as required by this section shall automatically forfeit his
office.

HISTORY: Code 1950, § 6-39; 1966, c. 584, § 6.1-48; 1992, c. 552; 1994, c.
105; 2010, c. 794; 2014, cc. 156, 219.