6.1-5.2 - (Repealed effective October 1, 2010) Conferring on state banks power to make charges comparable to those permitted to national banking associations. - Virginia Statutes

§ 6.1-5.2. (Repealed effective October 1, 2010) Conferring on state bankspower to make charges comparable to those permitted to national bankingassociations.

In addition to the permissible interest rates and charges specificallygranted to banks and to lenders generally by this title, the StateCorporation Commission may by order, from time to time, confer upon statebanks the power to take, receive, reserve, and charge on any loan or discountmade, at a rate of one per centum in excess of the discount rate onninety-day commercial paper in effect at the Federal Reserve Bank for thefifth Federal Reserve District, it being intended the State CorporationCommission may thereby confer upon state banks the power to make comparablecharges permitted under any federal statute or regulation to any nationalbanking association.

(1975, c. 80.)