6.1-111 - (Repealed effective October 1, 2010) Doing banking or trust business without authority; Commission may examine accounts, etc., of suspected person; penalty.

VIRGINIA STATUTES AND CODES

6.1-111 - (Repealed effective October 1, 2010) Doing banking or trust business without authority; Commission may examine accounts, etc., of suspected person; penalty.

§ 6.1-111. (Repealed effective October 1, 2010) Doing banking or trustbusiness without authority; Commission may examine accounts, etc., ofsuspected person; penalty.

Every person, association or company who shall trade or deal as a bank ortrust company, or carry on banking or do a trust business, without authorityof law, and their officers and agents therein, shall be guilty of a Class 6felony.

The Commission shall have authority to examine the accounts, books and papersof any person, copartnership or corporation who it has reason to suspect isdoing a banking business or a trust business, in order to ascertain whethersuch person, copartnership, or corporation has violated, or is violating, anyprovision of this title, and the refusal to submit such accounts, books andpapers shall be prima facie evidence of such violation.

(Code 1950, § 6-133; 1966, c. 584; 1992, c. 136; 1994, c. 7.)