§ 6.2-1046. (Effective October 1, 2010) Civil penalties for violation ofCommission's orders.
A. The Commission may impose, enter judgment for, and enforce by its process,a civil penalty not exceeding $10,000 upon any trust company or against anyof its directors, officers, or employees, who it determines, in proceedingscommenced in accordance with the Commission's Rules, has violated any lawfulorder of the Commission.
B. The Commission may remove from office any director or officer of a trustcompany for a second or subsequent violation by him of any such order.
C. In all cases the defendant shall have an opportunity to be heard and tointroduce evidence, and the right to appeal as provided by law.
(1968, c. 791, § 6.1-125; 1974, c. 665; 1976, c. 658; 2010, c. 794.)
§ 6.2-1046. (Effective October 1, 2010) Civil penalties for violation ofCommission's orders.
A. The Commission may impose, enter judgment for, and enforce by its process,a civil penalty not exceeding $10,000 upon any trust company or against anyof its directors, officers, or employees, who it determines, in proceedingscommenced in accordance with the Commission's Rules, has violated any lawfulorder of the Commission.
B. The Commission may remove from office any director or officer of a trustcompany for a second or subsequent violation by him of any such order.
C. In all cases the defendant shall have an opportunity to be heard and tointroduce evidence, and the right to appeal as provided by law.
(1968, c. 791, § 6.1-125; 1974, c. 665; 1976, c. 658; 2010, c. 794.)
§ 6.2-1046. (Effective October 1, 2010) Civil penalties for violation ofCommission's orders.
A. The Commission may impose, enter judgment for, and enforce by its process,a civil penalty not exceeding $10,000 upon any trust company or against anyof its directors, officers, or employees, who it determines, in proceedingscommenced in accordance with the Commission's Rules, has violated any lawfulorder of the Commission.
B. The Commission may remove from office any director or officer of a trustcompany for a second or subsequent violation by him of any such order.
C. In all cases the defendant shall have an opportunity to be heard and tointroduce evidence, and the right to appeal as provided by law.
(1968, c. 791, § 6.1-125; 1974, c. 665; 1976, c. 658; 2010, c. 794.)
