58.1-1201 - Definitions. - Virginia Statutes

§ 58.1-1201. Definitions.

As used in this chapter, unless the context clearly shows otherwise, the termor phrase:

"Bank" means any incorporated bank, banking association, savings bank thatis a member of the Federal Reserve System, or trust company organized by orunder the authority of the laws of the Commonwealth and any bank or bankingassociation organized by or under the authority of the laws of the UnitedStates, doing business or having an office in the Commonwealth or having acharter which designates any place within the Commonwealth as the place ofits principal office, and any bank which establishes and maintains a branchin this Commonwealth under Article 5.1 (§ 6.1-44.1 et seq.) of Title 6.1 orArticle 5.2 (§ 6.1-44.15 et seq.) of Title 6.1, whether such bank or bankingassociation is authorized to transact business as a trust company or not, andany joint stock land bank or any other bank organized by or under theauthority of the laws of the United States upon which the Commonwealth isauthorized to impose a tax. The term shall exclude all corporations organizedunder the laws of other states and doing business in the Commonwealth,corporations organized not as banks under the laws of the Commonwealth andall natural persons and partnerships.

"Bank holding company" means any corporation that is organized under thelaws of Virginia, is doing business in the Commonwealth, and is a bankholding company under the provisions of the Federal Bank Holding Company Actof 1956.

(Code 1950, §§ 58-485.01, 58-485.02; 1980, c. 578; 1984, c. 675; 1995, c.301; 2002, c. 29.)