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 3. Trust Subsidiaries |
SECTION 6.2-1049. Permissible business |
A trust subsidiary shall be permitted to engage in trust business and activities that may be engaged in by a bank pursuant to § 6.2-1002 , and business incidental thereto. A trust subsidiary shall not accept deposits or conduct any other business except as may be incidental to the trust business being conducted by it. 1974, c. 286, § 6.1-32.5; 1997, c. 6.2-1002 ; 2010, c. 6.2-1002 . |