§ 6.1-398. (Repealed effective October 1, 2010) Definitions.
As used in this chapter, unless a different meaning is required by thecontext, the following words or phrases shall have the following meanings:
"Acquire" means:
1. The merger or consolidation of one bank holding company with another bankholding company;
2. The acquisition by a bank holding company of direct or indirect ownershipor control of voting shares of another bank holding company or a bank, if,after such acquisition, the bank holding company making the acquisition willdirectly or indirectly own or control more than five percent of any class ofvoting shares of the other bank holding company or the bank;
3. The direct or indirect acquisition by a bank holding company of all orsubstantially all of the assets of another bank holding company or of a bank;or
4. Any other action that would result in direct or indirect control by a bankholding company of another bank holding company or a bank.
"Bank" shall have the same meaning set forth in 12 U.S.C. § 1841 (c).
"Bank holding company" shall have the same meaning set forth in 12 U.S.C. §1841 (a) (1).
"Control" shall have the same meaning set forth in 12 U.S.C. § 1841 (a) (2).
"Home state" means:
1. With respect to a national bank, the state in which the main office islocated;
2. With respect to a state bank, the state by which the bank is chartered; and
3. With respect to a bank holding company, the state in which the totaldeposits of all banking subsidiaries of such company are the largest on thelater of (i) July 1, 1966, or (ii) the date on which the company becomes abank holding company under the federal Bank Holding Company Act (12 U.S.C. §1841 ff).
"Out-of-state bank holding company" means a bank holding company that hasas its home state a state other than Virginia.
"State" means any state of the United States or the District of Columbia.
"Subsidiary" with respect to a bank means:
1. Any company twenty-five percent or more of whose voting shares (excludingshares owned by the United States or by any company wholly owned by theUnited States) are directly or indirectly owned or controlled by such bankholding company, or held by it with power to vote;
2. Any company the election of a majority of whose directors is controlled inany manner by such bank holding company; or
3. Any company with respect to the management or policies of which such bankholding company has the power, directly or indirectly, to exercise acontrolling influence, as determined by the Commission, after notice andopportunity for hearing.
"Virginia bank" means a bank that:
1. Is organized under the laws of this Commonwealth or of the United States;
2. Has Virginia as its home state; and
3. Is not a bank acquired under the provisions of § 6.1-392.
"Virginia bank holding company" means a bank holding company that:
1. Has Virginia as its home state; and
2. Is not controlled by a bank holding company other than a Virginia bankholding company.
(1985, c. 544; 1986, c. 257; 1994, cc. 315, 351; 1998, c. 231.)
§ 6.1-398. (Repealed effective October 1, 2010) Definitions.
As used in this chapter, unless a different meaning is required by thecontext, the following words or phrases shall have the following meanings:
"Acquire" means:
1. The merger or consolidation of one bank holding company with another bankholding company;
2. The acquisition by a bank holding company of direct or indirect ownershipor control of voting shares of another bank holding company or a bank, if,after such acquisition, the bank holding company making the acquisition willdirectly or indirectly own or control more than five percent of any class ofvoting shares of the other bank holding company or the bank;
3. The direct or indirect acquisition by a bank holding company of all orsubstantially all of the assets of another bank holding company or of a bank;or
4. Any other action that would result in direct or indirect control by a bankholding company of another bank holding company or a bank.
"Bank" shall have the same meaning set forth in 12 U.S.C. § 1841 (c).
"Bank holding company" shall have the same meaning set forth in 12 U.S.C. §1841 (a) (1).
"Control" shall have the same meaning set forth in 12 U.S.C. § 1841 (a) (2).
"Home state" means:
1. With respect to a national bank, the state in which the main office islocated;
2. With respect to a state bank, the state by which the bank is chartered; and
3. With respect to a bank holding company, the state in which the totaldeposits of all banking subsidiaries of such company are the largest on thelater of (i) July 1, 1966, or (ii) the date on which the company becomes abank holding company under the federal Bank Holding Company Act (12 U.S.C. §1841 ff).
"Out-of-state bank holding company" means a bank holding company that hasas its home state a state other than Virginia.
"State" means any state of the United States or the District of Columbia.
"Subsidiary" with respect to a bank means:
1. Any company twenty-five percent or more of whose voting shares (excludingshares owned by the United States or by any company wholly owned by theUnited States) are directly or indirectly owned or controlled by such bankholding company, or held by it with power to vote;
2. Any company the election of a majority of whose directors is controlled inany manner by such bank holding company; or
3. Any company with respect to the management or policies of which such bankholding company has the power, directly or indirectly, to exercise acontrolling influence, as determined by the Commission, after notice andopportunity for hearing.
"Virginia bank" means a bank that:
1. Is organized under the laws of this Commonwealth or of the United States;
2. Has Virginia as its home state; and
3. Is not a bank acquired under the provisions of § 6.1-392.
"Virginia bank holding company" means a bank holding company that:
1. Has Virginia as its home state; and
2. Is not controlled by a bank holding company other than a Virginia bankholding company.
(1985, c. 544; 1986, c. 257; 1994, cc. 315, 351; 1998, c. 231.)
§ 6.1-398. (Repealed effective October 1, 2010) Definitions.
As used in this chapter, unless a different meaning is required by thecontext, the following words or phrases shall have the following meanings:
"Acquire" means:
1. The merger or consolidation of one bank holding company with another bankholding company;
2. The acquisition by a bank holding company of direct or indirect ownershipor control of voting shares of another bank holding company or a bank, if,after such acquisition, the bank holding company making the acquisition willdirectly or indirectly own or control more than five percent of any class ofvoting shares of the other bank holding company or the bank;
3. The direct or indirect acquisition by a bank holding company of all orsubstantially all of the assets of another bank holding company or of a bank;or
4. Any other action that would result in direct or indirect control by a bankholding company of another bank holding company or a bank.
"Bank" shall have the same meaning set forth in 12 U.S.C. § 1841 (c).
"Bank holding company" shall have the same meaning set forth in 12 U.S.C. §1841 (a) (1).
"Control" shall have the same meaning set forth in 12 U.S.C. § 1841 (a) (2).
"Home state" means:
1. With respect to a national bank, the state in which the main office islocated;
2. With respect to a state bank, the state by which the bank is chartered; and
3. With respect to a bank holding company, the state in which the totaldeposits of all banking subsidiaries of such company are the largest on thelater of (i) July 1, 1966, or (ii) the date on which the company becomes abank holding company under the federal Bank Holding Company Act (12 U.S.C. §1841 ff).
"Out-of-state bank holding company" means a bank holding company that hasas its home state a state other than Virginia.
"State" means any state of the United States or the District of Columbia.
"Subsidiary" with respect to a bank means:
1. Any company twenty-five percent or more of whose voting shares (excludingshares owned by the United States or by any company wholly owned by theUnited States) are directly or indirectly owned or controlled by such bankholding company, or held by it with power to vote;
2. Any company the election of a majority of whose directors is controlled inany manner by such bank holding company; or
3. Any company with respect to the management or policies of which such bankholding company has the power, directly or indirectly, to exercise acontrolling influence, as determined by the Commission, after notice andopportunity for hearing.
"Virginia bank" means a bank that:
1. Is organized under the laws of this Commonwealth or of the United States;
2. Has Virginia as its home state; and
3. Is not a bank acquired under the provisions of § 6.1-392.
"Virginia bank holding company" means a bank holding company that:
1. Has Virginia as its home state; and
2. Is not controlled by a bank holding company other than a Virginia bankholding company.
(1985, c. 544; 1986, c. 257; 1994, cc. 315, 351; 1998, c. 231.)
