6.1-406 - (Repealed effective October 1, 2010) Notice of intent to acquire out-of-state bank. - Virginia Statutes

§ 6.1-406. (Repealed effective October 1, 2010) Notice of intent to acquireout-of-state bank.

A Virginia bank holding company or an out-of-state bank holding company thatcontrols a Virginia bank shall file with the Commission notice of itsintention to acquire a bank outside Virginia, together with such informationas the Commission shall request. It shall within thirty days or an extendedperiod not exceeding fifteen days, disapprove such acquisition if itdetermines that the acquisition could affect detrimentally the safety orsoundness of a Virginia bank. It shall approve such acquisition withinforty-five days if it determines that the acquisition will not affectdetrimentally the safety or soundness of such Virginia bank.

(1985, c. 544; 1994, c. 351; 1996, c. 17.)