13.1-504.2 - Broker-dealer services provided by credit unions; when registration not required. - Virginia Statutes

§ 13.1-504.2. Broker-dealer services provided by credit unions; whenregistration not required.

A credit union may enter into an agreement with any person or entity which isa registered broker-dealer under this chapter and under the SecuritiesExchange Act of 1934, for the purpose of making brokerage services availableto members of the credit union. The existence of such an agreement shall notof itself be sufficient to require employees of the credit union to registeras an agent under the provisions of this article, so long as the employees'activities with regard to such brokerage services are limited to theproviding of clerical or ministerial services.

(1988, c. 338.)