6.2-1020 - (Effective October 1, 2010) Certain transactions by affiliated trust companies prohibited. - Virginia Statutes

§ 6.2-1020. (Effective October 1, 2010) Certain transactions by affiliatedtrust companies prohibited.

An affiliated trust company shall not:

1. During the underwriting period, purchase from an affiliated broker-dealer,for any trust account or for its own account, any security that is beingunderwritten by that broker-dealer; or

2. Purchase for any trust account or for its own account any security that isissued by a company that owns five percent or more of the capital stock of,or is affiliated with, the affiliated trust company.

(1994, c. 524, § 6.1-32.14:2; 1995, c. 140; 2010, c. 794.)