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2001 SESSION
HB 2655 Bank investments.
Introduced by: Allen W. Dudley | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Bank investments. Authorizes any controlled subsidiary corporation to engage in any business that is authorized by statute, regulation or official interpretation for a subsidiary of a national bank or an out-of-state state bank. A controlled subsidiary corporation is redefined to be a corporation that is controlled by a Virginia-chartered bank, or controlled by more than one bank if at least one of the banks is chartered in this state.
SUMMARY AS INTRODUCED:
Bank investments. Authorizes any controlled subsidiary corporation to engage in any business that is authorized by statute, regulation or official interpretation for a subsidiary of a national bank or an out-of-state state bank. A controlled subsidiary corporation is redefined to be a corporation that is controlled by a Virginia-chartered bank, or controlled by more than one bank if at least one of the banks is chartered in this state.