6.1-194.103 - (Repealed effective October 1, 2010) Periodic reports; interstate agreements. - Virginia Statutes

§ 6.1-194.103. (Repealed effective October 1, 2010) Periodic reports;interstate agreements.

The Commission shall have the authority to examine any out-of-state savingsinstitution holding company owning a Virginia savings institution and each ofits Virginia or non-Virginia savings institution or nonsavings institutionsubsidiaries and shall require reports of each savings institution holdingcompany subject to this chapter. Such reports shall be filed under oath withsuch frequency and in such scope and detail as may be appropriate for thepurpose of assuring continuing compliance with the provisions of this chapter.

Prior to approving an acquisition under the provisions of this article, theCommission shall enter into cooperative agreements with the appropriateregulatory authorities for the periodic examination of any savingsinstitution holding company that has a Virginia savings institutionsubsidiary or any subsidiary of such holding company and may accept reportsof examination and other records from such authorities in lieu of conductingits own examinations. The Commission may enter into joint actions with otherregulatory authorities having concurrent jurisdiction over any savingsinstitution holding company that has a Virginia savings institutionsubsidiary or may take such actions independently to carry out itsresponsibilities under this chapter, assure the safety and soundness of anyVirginia savings institution, and assure compliance with the provisions ofthis chapter and the applicable savings institution laws of this Commonwealth.

(1985, c. 425; 1994, c. 353.)