6.2-834 - (Effective October 1, 2010) Operation of branch office under different name; civil penalty. - Virginia Statutes

§ 6.2-834. (Effective October 1, 2010) Operation of branch office underdifferent name; civil penalty.

A. No branch office shall be operated or advertised under any other name thanthat of the identical name of the bank, unless (i) permission is firstobtained from the Commission and (ii) the different name shall contain orhave added thereto language clearly indicating that it is a branch office andof which bank it is an office.

B. The Commission may impose a civil penalty not exceeding $2,000 upon anybank that it determines, in proceedings commenced in accordance with theCommission's Rules, has violated the provisions of this section.

(Code 1950, §§ 6-28, 6-29; 1966, c. 584, §§ 6.1-41, 6.1-113; 1979, c. 59;1987, c. 556; 1992, c. 136; 1994, c. 7; 2010, c. 794.)