State Codes and Statutes
Statutes > Virginia > Title-6-1 > Chapter-3-01 > 6-1-194-105§ 6.1-194.105. (Repealed effective October 1, 2010) Notice of intent toacquire out-of-state savings institution.
A Virginia savings institution, a Virginia savings institution holdingcompany or an out-of-state savings institution holding company owningsubsidiaries which conduct a savings institution business in the Commonwealthshall file with the Commission notice of its intention to acquire a financialinstitution outside Virginia, together with such information as theCommission may request. The Commission shall within thirty days or anextended period not exceeding fifteen days, disapprove such acquisition if itdetermines that the acquisition could affect detrimentally the safety orsoundness of a Virginia savings institution. The Commission may approve suchacquisition prior to the expiration of the thirty-day period if it determinesthat the acquisition will not affect detrimentally the safety or soundness ofsuch Virginia savings institution.
(1985, c. 425; 1994, c. 353.)
