Trust Subsidiaries

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This is Article 3 of the Code of Virginia, titled “Trust Subsidiaries.” It is part of Chapter 10 “Entities Conducting Trust Business”, which is part of Subtitle II “Depository Institutions and Trust Organizations”, which is part of Title 6.2 “Financial Institutions and Services”.

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 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