6.2-1201 - (Effective October 1, 2010) Special examinations. - Virginia Statutes

§ 6.2-1201. (Effective October 1, 2010) Special examinations.

When (i) written application is made to the Commission by the board ofdirectors or by the stockholders representing two-fifths of the totaloutstanding capital stock of any savings institution incorporated under thelaws of and doing business in the Commonwealth, or (ii) in the judgment ofthe Commission it may be necessary for the protection of the public or ofpersons depositing or dealing with such savings institution, the Commissionshall cause to be made a special examination of such savings institution. Allexpenses incident to such special examination may be charged to the savingsinstitution so examined and shall be paid by the savings institution socharged.

(1990, c. 247, § 6.1-194.84:1; 2010, c. 794.)