SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2002 SESSION
HB 97 Limitations on obligations of borrowers.
Introduced by: Allen W. Dudley | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Limitations on obligations of borrowers. Increases the maximum amount of obligations that a borrower may owe to a state bank to 15 percent of the sum of the bank’s capital, surplus, and loan loss reserves. Currently, a bank’s loan loss reserves are not included in calculating the bank’s loans-to-one-borrower limit. The bill also permits the State Corporation Commission to authorize state banks to make loans to one borrower in amounts authorized under laws applicable to national banks.
SUMMARY AS INTRODUCED:
Limitations on obligations of borrowers. Increases the maximum amount of obligations that a borrower may owe to a state bank to 15 percent of the sum of the bank’s capital, surplus, and loan loss reserves. Currently, a bank’s loan loss reserves are not included in calculating the bank’s loans-to-one-borrower limit. The bill also permits the State Corporation Commission to authorize state banks to make loans to one borrower in amounts authorized under laws applicable to national banks.