6.1-44.8 - (Repealed effective October 1, 2010) Powers. - Virginia Statutes

§ 6.1-44.8. (Repealed effective October 1, 2010) Powers.

An out-of-state state bank which establishes and maintains one or morebranches in Virginia under this article may conduct the same activities atsuch branch or branches that are authorized under Virginia law for Virginiastate banks, except to the extent such activities may be prohibited by otherlaws, regulations, or orders applicable to the out-of-state state bank.

A Virginia state bank may conduct the same activities at a branch outsideVirginia that are permissible for a bank chartered by the host state wherethe branch is located, except to the extent such activities are expresslyprohibited by other laws, regulations, or orders applicable to the Virginiastate bank.

A bank shall not establish or maintain a branch in Virginia on the premisesor property of an affiliate if the affiliate engages in commercial activities.

(1995, c. 301; 2007, c. 1.)