                                 CODE OF VIRGINIA

EXAMINATION OF AFFILIATES (§ 6.2-899)

A. As used in this section, &#8220;affiliate&#8221; of any bank means any entity
(i) of which such bank, directly or indirectly, owns or controls either a
majority of the voting shares or more than 50 percent of the number of shares
voted for the election of its directors, trustees, or other persons exercising
similar functions at the preceding election, or controls in any manner the
election of a majority of its directors, trustees, or other persons exercising
similar functions, (ii) of which control is held, directly or indirectly,
through stock ownership or in any other manner, by the shareholders of such bank
who own or control either a majority of the shares of such bank or more than 50
percent of the number of shares voted for the election of directors of such bank
at the preceding election, or by trustees for the benefit of the shareholders of
any such bank, or (iii) of which a majority of the directors, trustees, or other
persons exercising similar functions are directors of such bank.

B. The Commission, in connection with the examination of any bank, may make or
cause to be made such examination of the affiliates of the bank as shall be
necessary to ascertain the financial condition of the bank and to disclose fully
the relations between the bank and its affiliates and the effect of such
relations upon the affairs of the bank.

HISTORY: Code 1950, § 6-107; 1966, c. 584, § 6.1-85; 2010, c. 794.