6.2-710 - (Effective October 1, 2010) Regulations excluding financial institution holding companies from this chapter. - Virginia Statutes

§ 6.2-710. (Effective October 1, 2010) Regulations excluding financialinstitution holding companies from this chapter.

The Commission may adopt regulations excluding financial institution holdingcompanies from the provisions of this chapter, under conditions comparable tothose provided in either the Bank Holding Company Act of 1956 (12 U.S.C. §1841 et seq.) or Section 10 of the Home Owners' Loan Act (12 U.S.C. § 1467aet seq.), when control of a Virginia financial institution arises (i) out ofthe acquisition of shares in a fiduciary capacity, (ii) in connection with anunderwriting of securities or proxy solicitation, or (iii) in connection withsecuring or collecting a debt.

(1978, c. 683, § 6.1-387; 1984, c. 335; 2010, c. 794.)