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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 6.2. Financial Institutions and Services |
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SUBTITLE II. Depository Institutions and Trust Organizations |
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CHAPTER 10. Entities Conducting Trust Business |
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ARTICLE 2. Trust Companies |
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SECTION 6.2-1020. Certain transactions by affiliated trust companies prohibited |
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An affiliated trust company shall not: 1. During the underwriting period, purchase from an affiliated broker-dealer, for any trust account or for its own account, any security that is being underwritten by that broker-dealer; or 2. Purchase for any trust account or for its own account any security that is issued by a company that owns five percent or more of the capital stock of, or is affiliated with, the affiliated trust company. |