6.1-7 - (Repealed effective October 1, 2010) Effect of chapter on charter powers; investments. - Virginia Statutes

§ 6.1-7. (Repealed effective October 1, 2010) Effect of chapter on charterpowers; investments.

The powers, privileges, duties and restrictions conferred and imposed uponany bank existing and doing business under the laws of this Commonwealth areabridged, enlarged or modified, as each particular case may require, toconform to the provisions of this chapter. Nothing in this chapter, however,shall be construed to change or affect any privilege granted by charter toany bank incorporated before June 15, 1910, nor to affect the legality of anyinvestment made or transaction had prior to June 18, 1928, pursuant to anyprovisions of law in force when such investment was made or transaction had,nor shall the provisions of this chapter other than § 6.1-5 apply to any bankchartered prior to such date under the laws of this Commonwealth but havingno place of business within this Commonwealth and conducting its entirebusiness outside of this Commonwealth.

(Code 1950, § 6-8; 1966, c. 584.)