6.1-32.30:4 - (Repealed effective October 1, 2010) Reacquisition of shares or interests; dividends - Virginia Statutes

§ 6.1-32.30:4. (Repealed effective October 1, 2010) Reacquisition of sharesor interests; dividends.

A private trust company shall not purchase, redeem or otherwise reacquireshares of stock or membership interests that the private trust company hasissued, or declare a dividend or other distribution to its stockholders,members, or holders of equity interests, to the extent that such purchase,redemption, reacquisition, dividend or distribution shall cause the privatetrust company's paid-in capital, retained surplus and reserves to be reducedbelow $500,000.

(2003, c. 910.)