6.2-1106 - (Effective October 1, 2010) Prohibitions on the use of certain terms; exceptions; penalty. - Virginia Statutes

§ 6.2-1106. (Effective October 1, 2010) Prohibitions on the use of certainterms; exceptions; penalty.

A. No person not engaged in the business of a savings institution in theCommonwealth under the provisions of this chapter shall use any sign havingthereon any assumed or corporate name containing the words "savings andloan," "building and loan," "savings bank," or other words indicatingthat its office is the office of a savings institution; nor shall any suchperson use or circulate any written or printed material having thereon anyassumed or corporate name or word or words indicating that the business ofsuch person is that of a savings institution. However, the use of any ofthese terms in the name of any other corporation or in connection with anyother business is not prohibited when additional words show clearly anddefinitely that the corporation is not, and that the business is not that of,a savings institution.

B. Any person who violates this section is guilty of a Class 6 felony.

(1985, c. 425, § 6.1-194.95; 1986, c. 509; 1992, c. 136; 2010, c. 794.)