CODE OF VIRGINIA

POWERS (§ 6.2-842)

A. An out-of-state state bank that establishes and maintains one or more
branches in the Commonwealth under this article may conduct the same activities
at such branch or branches that are authorized under Virginia law for Virginia
state banks, except to the extent such activities may be prohibited by other
laws, regulations, or orders applicable to the out-of-state state bank.

B. A Virginia state bank may conduct the same activities at a branch outside the
Commonwealth that are permissible for a bank chartered by the host state where
the branch is located, except to the extent such activities are expressly
prohibited by other laws, regulations, or orders applicable to the Virginia
state bank.

C. A bank shall not establish or maintain a branch in the Commonwealth on the
premises or property of an affiliate if the affiliate engages in commercial
activities.

HISTORY: 1995, c. 301, § 6.1-44.8; 2007, c. 1; 2010, c. 794.