§ 6.1-383.1. (Repealed effective October 1, 2010) Acquisition of interests infinancial institutions and financial institution holding companies;prerequisites; notice; information to be made available to public.
A. Except as provided in Chapter 14 (§ 6.1-390 et seq.) and Chapter 15 (§6.1-398 et seq.) of this title, no company shall acquire or make any publicoffer to acquire, directly or indirectly, control of a Virginia financialinstitution or a Virginia financial institution holding company, and noVirginia financial institution holding company shall acquire more than fivepercent of the voting shares of any Virginia financial institution or of anyother Virginia financial institution holding company, unless it first shall:
1. File with the Commission an application in such form as the Commission mayprescribe from time to time;
2. Deliver to the Commission such other information as the Commission mayrequire with such certification of financial information and suchverification by oath or affirmation of other data as the Commission may deemappropriate;
3. Pay such application fee as the Commission may prescribe from time totime; and
4. Except in the case of a company which is a domestic corporation or aforeign corporation qualified to do business in Virginia, deliver to theCommission a written consent to service of process in any action or suitarising out of or in connection with said proposed acquisition throughservice of process on the Secretary of the Commonwealth.
B. Upon receipt of an application, the Commission shall notify the affectedVirginia financial institution or Virginia financial institution holdingcompany, and shall solicit the views of the affected Virginia financialinstitution or Virginia financial institution holding company. Theapplication and all other information required by the Commission under thissection, except such additional information as the Commission determinesshould be kept confidential, shall be held as part of the public records andmade available to the public.
C. Notwithstanding any other provision of law, except as permitted in Chapter14 and Chapter 15 of this title, no holding company, other than a bankholding company with bank subsidiaries whose operations are principallyconducted in the Commonwealth of Virginia, or whose bank subsidiaries arepresently conducting business in Virginia, may acquire or own a bankorganized under the laws of Virginia with its main office or branch inVirginia or a national banking association whose main office is located inVirginia.
§ 6.1-383.1. (Repealed effective October 1, 2010) Acquisition of interests infinancial institutions and financial institution holding companies;prerequisites; notice; information to be made available to public.
A. Except as provided in Chapter 14 (§ 6.1-390 et seq.) and Chapter 15 (§6.1-398 et seq.) of this title, no company shall acquire or make any publicoffer to acquire, directly or indirectly, control of a Virginia financialinstitution or a Virginia financial institution holding company, and noVirginia financial institution holding company shall acquire more than fivepercent of the voting shares of any Virginia financial institution or of anyother Virginia financial institution holding company, unless it first shall:
1. File with the Commission an application in such form as the Commission mayprescribe from time to time;
2. Deliver to the Commission such other information as the Commission mayrequire with such certification of financial information and suchverification by oath or affirmation of other data as the Commission may deemappropriate;
3. Pay such application fee as the Commission may prescribe from time totime; and
4. Except in the case of a company which is a domestic corporation or aforeign corporation qualified to do business in Virginia, deliver to theCommission a written consent to service of process in any action or suitarising out of or in connection with said proposed acquisition throughservice of process on the Secretary of the Commonwealth.
B. Upon receipt of an application, the Commission shall notify the affectedVirginia financial institution or Virginia financial institution holdingcompany, and shall solicit the views of the affected Virginia financialinstitution or Virginia financial institution holding company. Theapplication and all other information required by the Commission under thissection, except such additional information as the Commission determinesshould be kept confidential, shall be held as part of the public records andmade available to the public.
C. Notwithstanding any other provision of law, except as permitted in Chapter14 and Chapter 15 of this title, no holding company, other than a bankholding company with bank subsidiaries whose operations are principallyconducted in the Commonwealth of Virginia, or whose bank subsidiaries arepresently conducting business in Virginia, may acquire or own a bankorganized under the laws of Virginia with its main office or branch inVirginia or a national banking association whose main office is located inVirginia.
§ 6.1-383.1. (Repealed effective October 1, 2010) Acquisition of interests infinancial institutions and financial institution holding companies;prerequisites; notice; information to be made available to public.
A. Except as provided in Chapter 14 (§ 6.1-390 et seq.) and Chapter 15 (§6.1-398 et seq.) of this title, no company shall acquire or make any publicoffer to acquire, directly or indirectly, control of a Virginia financialinstitution or a Virginia financial institution holding company, and noVirginia financial institution holding company shall acquire more than fivepercent of the voting shares of any Virginia financial institution or of anyother Virginia financial institution holding company, unless it first shall:
1. File with the Commission an application in such form as the Commission mayprescribe from time to time;
2. Deliver to the Commission such other information as the Commission mayrequire with such certification of financial information and suchverification by oath or affirmation of other data as the Commission may deemappropriate;
3. Pay such application fee as the Commission may prescribe from time totime; and
4. Except in the case of a company which is a domestic corporation or aforeign corporation qualified to do business in Virginia, deliver to theCommission a written consent to service of process in any action or suitarising out of or in connection with said proposed acquisition throughservice of process on the Secretary of the Commonwealth.
B. Upon receipt of an application, the Commission shall notify the affectedVirginia financial institution or Virginia financial institution holdingcompany, and shall solicit the views of the affected Virginia financialinstitution or Virginia financial institution holding company. Theapplication and all other information required by the Commission under thissection, except such additional information as the Commission determinesshould be kept confidential, shall be held as part of the public records andmade available to the public.
C. Notwithstanding any other provision of law, except as permitted in Chapter14 and Chapter 15 of this title, no holding company, other than a bankholding company with bank subsidiaries whose operations are principallyconducted in the Commonwealth of Virginia, or whose bank subsidiaries arepresently conducting business in Virginia, may acquire or own a bankorganized under the laws of Virginia with its main office or branch inVirginia or a national banking association whose main office is located inVirginia.
