6.2-854 - (Effective October 1, 2010) Powers. - Virginia Statutes

§ 6.2-854. (Effective October 1, 2010) Powers.

A. An out-of-state state bank that establishes and maintains one or morebranches in Virginia under this article may conduct the same activities atsuch branch or branches that are authorized under Virginia law for Virginiastate banks, except to the extent such activities may be prohibited by otherlaws, regulations, or orders applicable to the out-of-state state bank.

B. A Virginia state bank may conduct any activities at any branch outside theCommonwealth that are permissible for a bank chartered by the host statewhere the branch is located, except to the extent such activities areexpressly prohibited by other laws, regulations, or orders applicable to theVirginia state bank.

(1995, c. 301, § 6.1-44.21; 2010, c. 794.)