6.2-907 - (Effective October 1, 2010) Reports of condition and other statements. - Virginia Statutes

§ 6.2-907. (Effective October 1, 2010) Reports of condition and otherstatements.

A. Every bank shall make to the Commission statements of its financialcondition at such times as the Commission may require. Such statements shallbe (i) made in accordance with forms prescribed by the Commission, (ii)certified under oath by the president or cashier of the bank, or, if there isno cashier, by the treasurer, and (iii) attested by at least three of itsdirectors.

B. The Commission shall require all banks doing business in the Commonwealthto make the statements described in subsection A, and at the time prescribed.The Commission shall prepare such forms as may be necessary to carry out theprovisions of this section.

C. Whenever the Commission calls for statements, it shall forward to eachsuch bank two forms, one of which, after being properly filled out andcertified as required by subsection A, shall be returned to the Commissionwithin a time prescribed by the Commission. The other form, filled out inlike manner, shall be filed with the records of the bank. The Commissionshall allow banks to submit such statements electronically. Any bank thatsubmits such statements electronically shall maintain a copy of the statementwith the required certified signatures affixed.

D. The Commission may require any bank to prepare and submit such otherreports and material as it deems necessary to protect and promote the publicinterest.

E. The Commission may impose a civil penalty of not less than $100 but notexceeding $1,000 per day for each day of noncompliance upon any bank that itdetermines, in proceedings commenced in accordance with the Commission'sRules, has failed to comply with any of the provisions of this section, for aperiod of longer than 30 days, after being called upon by the Commission fora statement, or to do such other act as is herein provided.

(Code 1950, §§ 6-105, 6-128; 1966, c. 584, §§ 6.1-93, 6.1-114; 1974, c. 665;1976, c. 658; 1977, c. 257; 1988, c. 555; 1995, c. 561; 1997, cc. 142, 407;2010, c. 794.)