6.2-1192 - (Effective October 1, 2010) Regulations. - Virginia Statutes

§ 6.2-1192. (Effective October 1, 2010) Regulations.

A. The Commission may adopt such regulations as it deems appropriate toeffect the purposes of this chapter. Before adopting any regulation, theCommission shall give reasonable notice of its content and shall affordinterested parties an opportunity to present evidence and be heard, inaccordance with the Commission's Rules.

B. The Commission may adopt such regulations as may be necessary to permitstate savings institutions to have powers comparable with those of federalsavings institutions, regardless of any then existing statute, regulation orcourt decision limiting or denying such powers to state savings institutions.The requirement of a public hearing shall not automatically apply toregulations adopted under this subsection, but the Commission may have suchhearing as it deems appropriate.

C. The Commission may adopt regulations governing savings institution holdingcompanies doing business in the Commonwealth, including the activities ofsuch companies and their subsidiaries.

D. The Commissioner shall publish and mail to each state savings institutionand foreign savings institution doing business in the Commonwealth a copy ofall regulations of the Commission in effect pertaining to such savingsinstitutions at such times as he may deem proper.

E. Regulations adopted by the Commission shall continue in effect untilamended or revoked by the Commission or superseded by action of the GeneralAssembly.

(1972, c. 796, § 6.1-195.72; 1985, c. 425, §§ 6.1-194.74, 6.1-194.75,6.1-194.76, 6.1-194.87; 1990, c. 3; 1991, c. 230, §§ 6.1-194.140,6.1-194.141, 6.1-194.142; 1996, c. 16; 2010, c. 794.)