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2018 SESSION
18102277DBe it enacted by the General Assembly of Virginia:
1. That § 6.2-834 of the Code of Virginia is amended and reenacted as follows:
§ 6.2-834. Operation of branch office under different name; civil penalty.
A. No branch office shall be operated or advertised under any
other name than that of the identical name of the bank, unless (i) permission
is first obtained from the Commission and (ii) the different name shall contain
or have added thereto language clearly indicating that it is a branch office and of which the bank it is an
office or a division of the bank.
B. The Commission may impose a civil penalty not exceeding $2,000 upon any bank that it determines, in proceedings commenced in accordance with the Commission's Rules, has violated the provisions of this section.