6.2-1039 - (Effective October 1, 2010) Engaging in trust business without authority; Commission may examine accounts of suspected person; penalty. - Virginia Statutes

§ 6.2-1039. (Effective October 1, 2010) Engaging in trust business withoutauthority; Commission may examine accounts of suspected person; penalty.

A. Every person who trades or deals as a trust company, or conducts a trustbusiness, without authority of law, and their officers and agents, is guiltyof a Class 6 felony.

B. The Commission shall have authority to examine the accounts, books, andpapers of any person who it has reason to suspect is doing a trust business,in order to ascertain whether such person has violated, or is violating, anyprovision of this title. The refusal to submit such accounts, books, andpapers shall be prima facie evidence of such violation.

(Code 1950, § 6-133; 1966, c. 584, § 6.1-111; 1992, c. 136; 1994, c. 7; 2010,c. 794.)