Virginia Administrative Code
Title 10 - FINANCE AND FINANCIAL INSTITUTIONS
Agency 5 - STATE CORPORATION COMMISSION
Chapter 20 - BANKING AND SAVINGS INSTITUTIONS
Section 10VAC5-20-40 - State savings banks; corporate name and investment requirement
Universal Citation: 0 VA Admin Code 5-20-40
Current through Register Vol. 41, No. 3, September 23, 2024
Pursuant to § 6.2-1192 of the Code of Virginia, a state savings bank shall not be required to have as a part of its corporate name the word "savings," regardless of §§ 6.2-939, 6.2-1040, and 6.2-1116 of the Code of Virginia. Further, a state savings bank shall be deemed in compliance with the investment in "real estate loans" requirement of § 6.2-1179 if it meets the "qualified thrift lender test" set forth in 12 USC § 1468a(m)(1)(B).
Statutory Authority
§§ 6.2-1192 and 12.1-13 of the Code of Virginia.
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