§ 6.1-194.121. (Repealed effective October 1, 2010) Change of branch officelocation.
A. A state savings bank shall not change the permanent location of a branchoffice without the prior approval of the Commission. An application tochange the location of a branch office shall be made in writing in such formas may be prescribed by the Commission. Such application shall be approvedby the Commission if the Commission finds that the change in location is inthe public interest.
B. 1. Notwithstanding the provisions of subsection A of this section, a statesavings bank may change the permanent location of a branch office, withoutapplying for the approval of the Commission, if the new location will bewithin a one-mile radius of the old location of such branch office.
2. A state savings bank shall notify the Commissioner in writing, in suchform as may be prescribed by the Commissioner, at least sixty days beforesuch office relocation and may proceed with the relocation unless, withinthirty days of receipt of the notice, the Commissioner notifies the savingsbank that the relocation does not satisfy the criteria set forth in the lastsentence of subsection A of this section, in which case the savings bank mustfile an application and obtain the approval of the Commission in accordancewith subsection A of this section. The savings bank shall also notify theCommissioner in writing that the office relocation has been completed withinten days after the opening of the office at its new location.
C. The provisions of this section shall also apply to the relocation of themain office of a state savings bank if the savings bank intends to acceptdeposits at the new location of the main office.
§ 6.1-194.121. (Repealed effective October 1, 2010) Change of branch officelocation.
A. A state savings bank shall not change the permanent location of a branchoffice without the prior approval of the Commission. An application tochange the location of a branch office shall be made in writing in such formas may be prescribed by the Commission. Such application shall be approvedby the Commission if the Commission finds that the change in location is inthe public interest.
B. 1. Notwithstanding the provisions of subsection A of this section, a statesavings bank may change the permanent location of a branch office, withoutapplying for the approval of the Commission, if the new location will bewithin a one-mile radius of the old location of such branch office.
2. A state savings bank shall notify the Commissioner in writing, in suchform as may be prescribed by the Commissioner, at least sixty days beforesuch office relocation and may proceed with the relocation unless, withinthirty days of receipt of the notice, the Commissioner notifies the savingsbank that the relocation does not satisfy the criteria set forth in the lastsentence of subsection A of this section, in which case the savings bank mustfile an application and obtain the approval of the Commission in accordancewith subsection A of this section. The savings bank shall also notify theCommissioner in writing that the office relocation has been completed withinten days after the opening of the office at its new location.
C. The provisions of this section shall also apply to the relocation of themain office of a state savings bank if the savings bank intends to acceptdeposits at the new location of the main office.
§ 6.1-194.121. (Repealed effective October 1, 2010) Change of branch officelocation.
A. A state savings bank shall not change the permanent location of a branchoffice without the prior approval of the Commission. An application tochange the location of a branch office shall be made in writing in such formas may be prescribed by the Commission. Such application shall be approvedby the Commission if the Commission finds that the change in location is inthe public interest.
B. 1. Notwithstanding the provisions of subsection A of this section, a statesavings bank may change the permanent location of a branch office, withoutapplying for the approval of the Commission, if the new location will bewithin a one-mile radius of the old location of such branch office.
2. A state savings bank shall notify the Commissioner in writing, in suchform as may be prescribed by the Commissioner, at least sixty days beforesuch office relocation and may proceed with the relocation unless, withinthirty days of receipt of the notice, the Commissioner notifies the savingsbank that the relocation does not satisfy the criteria set forth in the lastsentence of subsection A of this section, in which case the savings bank mustfile an application and obtain the approval of the Commission in accordancewith subsection A of this section. The savings bank shall also notify theCommissioner in writing that the office relocation has been completed withinten days after the opening of the office at its new location.
C. The provisions of this section shall also apply to the relocation of themain office of a state savings bank if the savings bank intends to acceptdeposits at the new location of the main office.
