6.2-1028 - (Effective October 1, 2010) Offices. - Virginia Statutes

§ 6.2-1028. (Effective October 1, 2010) Offices.

A. When satisfied that the public interest, as defined in subdivision 8 of §6.2-1017, will be served, the Commission may authorize:

1. A trust company having paid-up and unimpaired capital and surplus in anamount deemed sufficient to warrant expansion to establish additionaloffices; and

2. The relocation of any office.

B. The office at which a trust company begins business shall be designatedinitially as its principal office. The board of directors of a trust companymay thereafter redesignate as the principal office another authorized officeof the trust company in the Commonwealth. The trust company shall notify theCommission of any such redesignation not later than 30 days before itseffective date and shall confirm to the Commission any redesignation within10 days of its occurrence.

(1993, c. 432, § 6.1-32.21; 1997, c. 51; 2010, c. 794.)