§ 6.2-1040. (Effective October 1, 2010) Unlawful use of terms indicating thatbusiness is trust company; penalty.
A. A person not authorized to engage in the trust business in theCommonwealth by the provisions of this title or under the laws of the UnitedStates, shall not (i) use any office sign having thereon any name or otherwords indicating that any such office is the office of a trust company; (ii)use or circulate any letterheads, billheads, blank notes, blank receipts,certificates, circulars or any written or printed paper, having thereon anyname or word indicating that such person is a trust company; or (iii) use theword "trust" or the equivalent thereof in any foreign language, or theplural thereof in connection with any business other than a trust business.
B. The foregoing prohibitions shall not apply to use by a trust companyholding company of the word "trust" or the equivalent thereof in its name,or of a name similar to that of a subsidiary trust company of such trustcompany holding company.
C. The use of the above-mentioned words in the name of, or in connectionwith, any other business shall not be prohibited if the context or remainingwords show clearly and definitely that the business is not a trust company,and is not carrying on a trust business.
D. Any person violating the provisions of this section, either individuallyor as an interested party, is guilty of a Class 6 felony.
(Code 1950, § 6-134; 1966, c. 584, § 6.1-112; 1972, c. 187; 1992, cc. 24,136; 2000, c. 56; 2003, c. 592; 2010, c. 794.)
§ 6.2-1040. (Effective October 1, 2010) Unlawful use of terms indicating thatbusiness is trust company; penalty.
A. A person not authorized to engage in the trust business in theCommonwealth by the provisions of this title or under the laws of the UnitedStates, shall not (i) use any office sign having thereon any name or otherwords indicating that any such office is the office of a trust company; (ii)use or circulate any letterheads, billheads, blank notes, blank receipts,certificates, circulars or any written or printed paper, having thereon anyname or word indicating that such person is a trust company; or (iii) use theword "trust" or the equivalent thereof in any foreign language, or theplural thereof in connection with any business other than a trust business.
B. The foregoing prohibitions shall not apply to use by a trust companyholding company of the word "trust" or the equivalent thereof in its name,or of a name similar to that of a subsidiary trust company of such trustcompany holding company.
C. The use of the above-mentioned words in the name of, or in connectionwith, any other business shall not be prohibited if the context or remainingwords show clearly and definitely that the business is not a trust company,and is not carrying on a trust business.
D. Any person violating the provisions of this section, either individuallyor as an interested party, is guilty of a Class 6 felony.
(Code 1950, § 6-134; 1966, c. 584, § 6.1-112; 1972, c. 187; 1992, cc. 24,136; 2000, c. 56; 2003, c. 592; 2010, c. 794.)
§ 6.2-1040. (Effective October 1, 2010) Unlawful use of terms indicating thatbusiness is trust company; penalty.
A. A person not authorized to engage in the trust business in theCommonwealth by the provisions of this title or under the laws of the UnitedStates, shall not (i) use any office sign having thereon any name or otherwords indicating that any such office is the office of a trust company; (ii)use or circulate any letterheads, billheads, blank notes, blank receipts,certificates, circulars or any written or printed paper, having thereon anyname or word indicating that such person is a trust company; or (iii) use theword "trust" or the equivalent thereof in any foreign language, or theplural thereof in connection with any business other than a trust business.
B. The foregoing prohibitions shall not apply to use by a trust companyholding company of the word "trust" or the equivalent thereof in its name,or of a name similar to that of a subsidiary trust company of such trustcompany holding company.
C. The use of the above-mentioned words in the name of, or in connectionwith, any other business shall not be prohibited if the context or remainingwords show clearly and definitely that the business is not a trust company,and is not carrying on a trust business.
D. Any person violating the provisions of this section, either individuallyor as an interested party, is guilty of a Class 6 felony.
(Code 1950, § 6-134; 1966, c. 584, § 6.1-112; 1972, c. 187; 1992, cc. 24,136; 2000, c. 56; 2003, c. 592; 2010, c. 794.)
