§ 6.2-1013. (Effective October 1, 2010) Definitions.
As used in this article, unless the context requires a different meaning:
"Agent" has the meaning assigned to it in § 13.1-501 of the VirginiaSecurities Act (§ 13.1-501 et seq.).
"Broker-dealer" has the meaning assigned to it in § 13.1-501 of theVirginia Securities Act.
"Control" means (i) ownership by a person of 25 percent or more of thevoting stock of a trust company; (ii) control as defined in the Bank HoldingCompany Act of 1956 (12 U.S.C. § 1841 et seq.); or (iii) as determined by theCommission, the exercise of a controlling influence over the management andpolicies of a trust company.
"Fiduciary" means executor, administrator, conservator, guardian of aminor, committee, or trustee.
"Investment advisor" has the meaning assigned to it in § 13.1-501 of theVirginia Securities Act.
"Investment advisor representative" has the meaning assigned to it in §13.1-501 of the Virginia Securities Act.
"Investment company" has the meaning assigned to it in the InvestmentCompany Act of 1940 (15 U.S.C. § 80a-1 et seq.).
"Operating plan" means a plan submitted by an applicant for a certificateof authority, which plan establishes the policies and procedures a trustcompany will have in effect when the institution opens for business andthereafter (i) to avoid or resolve conflicts of interests, (ii) to preventimproper influences from affecting the actions of the trustee, (iii) toensure that trust accounts are handled in accordance with recognizedstandards of fiduciary conduct, and (iv) to assure compliance with applicablelaws and regulations.
"Principal" means any person who, directly or indirectly, owns or controls(i) 10 percent or more of the outstanding stock of a stock corporation or(ii) a 10 percent or greater interest in a nonstock corporation or a limitedliability company.
(1993, c. 432, § 6.1-32.11; 1994, c. 524; 1995, c. 140; 1997, c. 801; 2004,c. 781; 2010, c. 794.)
§ 6.2-1013. (Effective October 1, 2010) Definitions.
As used in this article, unless the context requires a different meaning:
"Agent" has the meaning assigned to it in § 13.1-501 of the VirginiaSecurities Act (§ 13.1-501 et seq.).
"Broker-dealer" has the meaning assigned to it in § 13.1-501 of theVirginia Securities Act.
"Control" means (i) ownership by a person of 25 percent or more of thevoting stock of a trust company; (ii) control as defined in the Bank HoldingCompany Act of 1956 (12 U.S.C. § 1841 et seq.); or (iii) as determined by theCommission, the exercise of a controlling influence over the management andpolicies of a trust company.
"Fiduciary" means executor, administrator, conservator, guardian of aminor, committee, or trustee.
"Investment advisor" has the meaning assigned to it in § 13.1-501 of theVirginia Securities Act.
"Investment advisor representative" has the meaning assigned to it in §13.1-501 of the Virginia Securities Act.
"Investment company" has the meaning assigned to it in the InvestmentCompany Act of 1940 (15 U.S.C. § 80a-1 et seq.).
"Operating plan" means a plan submitted by an applicant for a certificateof authority, which plan establishes the policies and procedures a trustcompany will have in effect when the institution opens for business andthereafter (i) to avoid or resolve conflicts of interests, (ii) to preventimproper influences from affecting the actions of the trustee, (iii) toensure that trust accounts are handled in accordance with recognizedstandards of fiduciary conduct, and (iv) to assure compliance with applicablelaws and regulations.
"Principal" means any person who, directly or indirectly, owns or controls(i) 10 percent or more of the outstanding stock of a stock corporation or(ii) a 10 percent or greater interest in a nonstock corporation or a limitedliability company.
(1993, c. 432, § 6.1-32.11; 1994, c. 524; 1995, c. 140; 1997, c. 801; 2004,c. 781; 2010, c. 794.)
§ 6.2-1013. (Effective October 1, 2010) Definitions.
As used in this article, unless the context requires a different meaning:
"Agent" has the meaning assigned to it in § 13.1-501 of the VirginiaSecurities Act (§ 13.1-501 et seq.).
"Broker-dealer" has the meaning assigned to it in § 13.1-501 of theVirginia Securities Act.
"Control" means (i) ownership by a person of 25 percent or more of thevoting stock of a trust company; (ii) control as defined in the Bank HoldingCompany Act of 1956 (12 U.S.C. § 1841 et seq.); or (iii) as determined by theCommission, the exercise of a controlling influence over the management andpolicies of a trust company.
"Fiduciary" means executor, administrator, conservator, guardian of aminor, committee, or trustee.
"Investment advisor" has the meaning assigned to it in § 13.1-501 of theVirginia Securities Act.
"Investment advisor representative" has the meaning assigned to it in §13.1-501 of the Virginia Securities Act.
"Investment company" has the meaning assigned to it in the InvestmentCompany Act of 1940 (15 U.S.C. § 80a-1 et seq.).
"Operating plan" means a plan submitted by an applicant for a certificateof authority, which plan establishes the policies and procedures a trustcompany will have in effect when the institution opens for business andthereafter (i) to avoid or resolve conflicts of interests, (ii) to preventimproper influences from affecting the actions of the trustee, (iii) toensure that trust accounts are handled in accordance with recognizedstandards of fiduciary conduct, and (iv) to assure compliance with applicablelaws and regulations.
"Principal" means any person who, directly or indirectly, owns or controls(i) 10 percent or more of the outstanding stock of a stock corporation or(ii) a 10 percent or greater interest in a nonstock corporation or a limitedliability company.
(1993, c. 432, § 6.1-32.11; 1994, c. 524; 1995, c. 140; 1997, c. 801; 2004,c. 781; 2010, c. 794.)
