6.1-194.106 - (Repealed effective October 1, 2010) Nonseverability. - Virginia Statutes

§ 6.1-194.106. (Repealed effective October 1, 2010) Nonseverability.

It is the purpose of this article to authorize acquisitions of Virginiasavings institution holding companies or Virginia savings institutions bysavings institutions or savings institution holding companies that do nothave their principal place of business in this Commonwealth only as expresslyprovided in this article. Therefore, notwithstanding the provisions of §6.1-194.89, if any portion of this article pertaining to the terms andconditions for and limitations upon acquisition of Virginia savingsinstitution holding companies and Virginia savings institutions by savingsinstitutions and savings institution holding companies that do not have theirprincipal place of business in this Commonwealth is determined to be invalidfor any reason by a final nonappealable order of any Virginia or federalcourt of competent jurisdiction, then this article shall be void and of nofurther effect from the effective date of such order. However, anytransaction that has been lawfully consummated pursuant to this article priorto a determination of invalidity shall be unaffected by such determination.

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