Trust Subsidiaries.
This is Article 3 of the Code of Virginia, titled “Trust Subsidiaries..” It is part of Title 6.2, titled “Financial Institutions And Services.” It is part of Subtitle II, titled “Depository Institutions And Trust Organizations.” It is part of Chapter 10, titled “Entities Conducting Trust Business.” It’s comprised of the following 18 sections.
- § 6.2-1047
- Definitions
- § 6.2-1048
- Organization of subsidiary trust companies
- § 6.2-1049
- Permissible business
- § 6.2-1050
- Directors
- § 6.2-1051
- Report to Commission of election of director
- § 6.2-1052
- Removal of director or officer; appeals; penalty
- § 6.2-1053
- Bonds required of officers and employees; blanket bond
- § 6.2-1054
- Certificate required
- § 6.2-1055
- Trust offices
- § 6.2-1056
- When security not required of trust subsidiaries
- § 6.2-1057
- Deposits held or received by trust subsidiaries or subsidiary bank with affiliate banks
- § 6.2-1058
- Substitution of trust subsidiary as fiduciary
- § 6.2-1059
- Substitution of subsidiary bank under common ownership as fiduciary
- § 6.2-1060
- Trust subsidiaries to have same powers and restrictions as bank trust departments
- § 6.2-1061
- Reports; investigations and examinations; civil penalties
- § 6.2-1062
- Offenses by officer, director, agent or employee of trust subsidiary; penalties
- § 6.2-1063
- Officers, directors, agents and employees violating or causing trust subsidiary to violate laws; civil liability not affected
- § 6.2-1064
- Civil penalties for violation of Commission's orders