6.2-939 - (Effective October 1, 2010) Unlawful use of terms indicating that business is bank; penalty. - Virginia Statutes

§ 6.2-939. (Effective October 1, 2010) Unlawful use of terms indicating thatbusiness is bank; penalty.

A. A person not authorized to engage in the banking business in theCommonwealth by the provisions of this title or under the laws of the UnitedStates, shall not (i) use any office sign having thereon any name or otherwords indicating that any such office is the office of a bank; (ii) use orcirculate any letterheads, billheads, blank notes, blank receipts,certificates, circulars, or any written or printed paper, having thereon anyname or word indicating that such person is a bank; or (iii) use the word"bank," "banking," "banker," or "trust," or the equivalent thereof inany foreign language, or the plural thereof in connection with any businessother than a banking business.

B. The foregoing prohibitions shall not apply to use by a bank holdingcompany, as defined in § 6.2-800, of the word "bank," "banks,""banking," "banker," "trust," or the equivalent thereof in its name, orof a name similar to that of a subsidiary bank of such bank holding company.

C. The use of the above-mentioned words in the name of, or in connectionwith, any other business shall not be prohibited if the context or remainingwords show clearly and definitely that the business is not a bank, and is notcarrying on a banking business.

D. Any person violating the provisions of this section, either individuallyor as an interested party, is guilty of a Class 6 felony.

(Code 1950, § 6-134; 1966, c. 584, § 6.1-112; 1972, c. 187; 1992, cc. 24,136; 2000, c. 56; 2003, c. 592; 2010, c. 794.)