Virginia Administrative Code
Title 10 - FINANCE AND FINANCIAL INSTITUTIONS
Agency 5 - STATE CORPORATION COMMISSION
Chapter 22 - TRUST COMPANY REGULATIONS
Section 10VAC5-22-90 - Trust administration as individual, receipt of income from licensed activities prohibited
Universal Citation: 0 VA Admin Code 5-22-90
Current through Register Vol. 41, No. 3, September 23, 2024
An officer or employee of a trust company may not accept or administer, as an individual, any trust account, unless the board of directors approves and monitors the arrangement. While employed by a trust company or receiving remuneration therefrom, an officer or employee of a trust company may not engage in a licensed activity and receive commissions, fees, or other similar income from such activity.
Statutory Authority
§ 6.2-1034 of the Code of Virginia.
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