6.1-67 - (Repealed effective October 1, 2010) Bank borrowing money or rediscounting its notes; reports; resolutions. - Virginia Statutes

§ 6.1-67. (Repealed effective October 1, 2010) Bank borrowing money orrediscounting its notes; reports; resolutions.

Any bank borrowing money or rediscounting any of its notes shall at all timesshow on its books and accounts and in its reports the amount of such borrowedmoney or rediscounts. No officer, director or employee of any bank shallissue the note of such bank for borrowed money or rediscount any note orpledge any of the assets of such bank, except when authorized by resolutionof the board of directors of such bank previously made and entered upon theminutes of such bank, under such rules and regulations and in such form asmay be prescribed by the Commission.

(Code 1950, § 6-80; 1966, c. 584; 1994, c. 7.)