6.2-1165 - (Effective October 1, 2010) Nonseverability. - Virginia Statutes

§ 6.2-1165. (Effective October 1, 2010) Nonseverability.

Notwithstanding the provisions of § 1-243, if any portion of this articlepertaining to the terms and conditions for and limitations upon acquisitionof Virginia savings institution holding companies and Virginia savingsinstitutions by savings institutions and savings institution holdingcompanies that do not have their principal place of business in theCommonwealth is determined to be invalid for any reason by a finalnonappealable order of any appropriate Virginia or federal court, then §§6.2-1157 through 6.2-1164 shall be void and of no further effect from theeffective date of such order. Any transaction that has been lawfullyconsummated pursuant to this article prior to a determination of invalidityshall be unaffected by such determination.

(1985, c. 425, § 6.1-194.106; 1994, c. 353; 2010, c. 794.)