6.2-938 - (Effective October 1, 2010) Engaging in banking business without authority; Commission may examine accounts of suspected person; penalty. - Virginia Statutes

§ 6.2-938. (Effective October 1, 2010) Engaging in banking business withoutauthority; Commission may examine accounts of suspected person; penalty.

A. Every person who trades or deals as a bank, or carries on banking, withoutauthority of law, and their officers and agents, is guilty of a Class 6felony.

B. The Commission shall have authority to examine the accounts, books, andpapers of any person who it has reason to suspect is doing a bankingbusiness, in order to ascertain whether such person has violated, or isviolating, any provision of this title. The refusal to submit such accounts,books, and papers shall be prima facie evidence of such violation.

(Code 1950, § 6-133; 1966, c. 584, § 6.1-111; 1992, c. 136; 1994, c. 7; 2010,c. 794.)