6.2-1060 - (Effective October 1, 2010) Trust subsidiaries to have same powers and restrictions as bank trust departments. - Virginia Statutes

§ 6.2-1060. (Effective October 1, 2010) Trust subsidiaries to have samepowers and restrictions as bank trust departments.

Wherever there is granted to or imposed upon a bank having and exercisingtrust powers any further powers in the nature of trust powers or anyrestriction upon any such powers, whether under this title or otherwise, itis intended that such grant to or restriction upon a bank in its trust powersshall be equally applicable to a trust subsidiary, unless context shallotherwise require or unless this chapter or Chapter 8 (§ 6.2-800 et seq.)specifically covers such situation or provides otherwise.

(1974, c. 286, §6.1-32.10; 2010, c. 794.)