State Codes and Statutes
Statutes > Virginia > Title-6-2 > Chapter-11 > 6-2-1147§ 6.2-1147. (Effective October 1, 2010) Acquisition of control of state stockinstitution requires Commission approval.
No person, whether acting alone or in concert with others, shall acquireownership or control of 25 percent or more of the voting shares of a statestock savings institution, or otherwise control the election of a majority ofthe directors of such institution, without the approval of the Commission.The Commission shall not approve the proposed acquisition unless theCommission determines that the proposed acquisition is in the public interest.
(1985, c. 425, § 6.1-194.87; 1990, c. 3; 1996, c. 16; 1991, c. 230, §6.1-194.152; 2010, c. 794.)
