6.2-824 - (Effective October 1, 2010) Status of converted bank. - Virginia Statutes

§ 6.2-824. (Effective October 1, 2010) Status of converted bank.

Upon the conversion of a national banking association to a state bank asprovided in § 6.2-823, the state bank shall be considered to be the samebusiness and corporate entity as the former national banking association,except that the state bank shall have the rights, powers, and duties asprescribed by state law. Any reference to the former national bankingassociation in any contract, will, or document shall be deemed to be areference to the state bank if not inconsistent with the provisions of thecontract, will, or document or with applicable law.

(Code 1950, § 6-15.2; 1952, c. 571; 1966, c. 584, § 6.1-34; 2010, c. 794.)