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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 8. Banks |
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ARTICLE 7. Interstate Bank Mergers |
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SECTION 6.2-849. Definitions |
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As used in this article, unless a different meaning is required: "Bank" has the meaning assigned to it in 12 U.S.C. § 1813 (a) (1) of the Federal Deposit Insurance Company Act of 1956 (12 U.S.C. § 1811 et seq.), as amended. "Home state" has the meaning assigned to it in § 6.2-836 . "Host state" has the meaning assigned to it in § 6.2-836 . "Interstate merger transaction" means: 1. The merger or consolidation of banks with different home states, and the conversion of branches of any bank involved in the merger or consolidation to branches of the resulting bank; or 2. The purchase of all, or substantially all, of the assets of a bank whose home state is different than the home state of the acquiring bank. "Out-of-state bank" has the meaning assigned to it in § 6.2-836 . "Out-of-state state bank" has the meaning assigned to it in § 6.2-836 . "Resulting bank" means a bank that has resulted from an interstate merger transaction under this article. "Virginia bank" means a bank whose home state is Virginia. "Virginia state bank" has the meaning assigned to it in § 6.2-836 . |