CODE OF VIRGINIA

GIVING OR ACCEPTING A FEE OR GIFT FOR PURPOSES OF INFLUENCING DECISIONS OF
FINANCIAL INSTITUTION (§ 18.2-444.2)

A. No officer, director, or employee of a financial institution or subsidiary,
affiliate or holding company thereof, or stockholder owning ten percent or more
of the issued capital stock of any such financial institution or holding
company, shall accept, receive or acquire any fee, gift, property interest, or
other thing of value with the intent to influence the decision of the financial
institution, subsidiary, affiliate or holding company with regard to any
extension of credit, investment, or purchase or sale of assets by such financial
institution, subsidiary, affiliate or holding company.  No person shall give,
provide or cause to be transferred to any such officer, director, employee or
stockholder, any fee, gift, property interest or other thing of value with the
intent to influence the decision of the financial institution, subsidiary,
affiliate or holding company with regard to any extension of credit, investment
or purchase or sale of assets by the financial institution, subsidiary,
affiliate or holding company.  The foregoing provisions shall not apply to
salary, wages, fees or other compensation or consideration paid by, or expenses
paid or reimbursed by, such financial institution, subsidiary, affiliate or
holding company.  The violation of this section shall be punishable as a Class 6
felony.

B. The provisions of this section shall not apply to any such officer, director,
employee or stockholder who is a member of a firm of licensed brokers, in buying
for or from or selling to, or for the account of, the financial institution, in
the ordinary course of business, real estate or bonds, stocks, or other
evidences of debt at the usual rate of commission for such service, if the
officer, director, employee or stockholder notifies the board of directors of
the financial institution, its cashier or secretary, in writing, that such
services will be rendered for compensation prior to the rendition of the
services or within five business days following the commencement of the
services. If a continuing business relationship exists, an annual disclosure may
be made.

C. The provisions of this section shall not apply to fees paid to any such
officer, director, employee, or stockholder who renders services to a borrower
outside of his relationship with the financial institution in connection with
the preparation of a loan application, or in connection with the closing of a
loan, in evaluating the security or affecting a lien on the collateral, where
the fact of rendition of such services for compensation is disclosed in writing
to the board of directors of the financial institution, or its cashier or
secretary, prior to the time such services are rendered or within five business
days following the commencement of the services.  If a continuing business
relationship exists, an annual disclosure may be made.

HISTORY: Code 1950, § 6.1-121; 1966, c. 584; 1981, c. 339; 1991, c. 501; 1992,
c. 318.