Code of Virginia (Last Updated:July 28, 2020) |
TITLE 6.2. Financial Institutions and Services |
SUBTITLE II. Depository Institutions and Trust Organizations |
CHAPTER 10. Entities Conducting Trust Business |
ARTICLE 2. Trust Companies |
SECTION 6.2-1020. Certain transactions by affiliated trust companies prohibited |
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. |