SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

1995 SESSION

  • | print version

HB 1753 Banking; interstate branching and mergers.

Introduced by: W. W. Bennett, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Banking; interstate branching and mergers. Permits Virginia to “opt-in” to interstate branch banking as authorized by the federal Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. This bill (i) allows for an out-of-state domiciled bank to establish branches in Virginia, provided such other state authorizes Virginia banks to establish branches within its borders (i.e., reciprocity), (ii) permits banks to consolidate multi-state operations into one bank, (iii) limits the powers of out-of-state domiciled banks to those permitted Virginia-domiciled banks, (iv) authorizes the State Corporation Commission's Bureau of Financial Institutions to enter into cooperative agreements with other state regulators for the examination and supervision of the other's out-of-state operations and (v) makes technical changes.


FULL TEXT

HISTORY