6.2-706 - (Effective October 1, 2010) Cooperative agreements with other regulatory authorities. - Virginia Statutes

§ 6.2-706. (Effective October 1, 2010) Cooperative agreements with otherregulatory authorities.

Prior to approving the acquisition of any Virginia bank or Virginia bankholding company by any out-of-state bank holding company, or the acquisitionof any out-of-state bank or out-of-state bank holding company by any Virginiabank holding company, the Commission shall enter into cooperative agreementswith the appropriate regulatory authorities for the periodic examination ofany out-of-state bank holding company that has a Virginia bank subsidiary, orany subsidiary of such holding company. The Commission may accept reports ofexamination and other records from such authorities in lieu of conducting itsown examinations.

(1985, c. 544, §6.1-404; 1994, c. 351; 2010, c. 794.)