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1996 SESSION
Be it enacted by the General Assembly of Virginia:
1. That §§ 6.1-194.78 and 6.1-194.144 of the Code of Virginia are amended and reenacted as follows:
§ 6.1-194.78. State associations to furnish financial statements and reports.
A. Every state association shall furnish the Commission within thirty
days after the close of its fiscal year a statement of its financial condition
on forms supplied by the Commission. In addition, every state association
shall either mail to each of its members or shall publish in some newspaper
having general circulation in the county or city where its main office is
located a statement in condensed form of its financial condition. Such
statements shall be made and published in accordance with forms
prescribed by the Commission, certified under oath by the president or
treasurer of the association, and attested by at least three of its directors.
Insofar as practicable, the reports required by this section shall conform to
those required of associations insured by any instrumentality of the federal
government.
B. Every state association shall make such other reports as the Commission may from time to time require.
§ 6.1-194.144. State savings banks to furnish financial statements and reports.
A. Every state savings bank shall furnish the Commission within thirty days
after the close of its fiscal year a statement of its financial condition on
forms supplied by the Commission and, in addition, shall either mail to each
of its members or stockholders, or shall publish in some newspaper having
general circulation in the county or city where its main office is located, a
statement in condensed form of its financial condition. Such statements
shall be made and published in accordance with forms prescribed by the
Commission, certified under oath by the president or treasurer of the savings
bank and attested by at least three of its directors. Insofar as practicable,
the reports required by this section shall conform to those required by any
instrumentality of the federal government that insures or regulates the state
savings bank.
B. Every state savings bank shall make such other reports as the Commission may from time to time require.