Code of Virginia § 6.2-834. Operation of branch office under different name; civil penalty.

127 words·~1 min read·/va/title-6-2/chapter-8/6-2-834

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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 of the bank 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.

Code 1950, §§ 6-28, 6-29; 1966, c. 584, §§ 6.1-41, 6.1-113; 1979, c. 59; 1987, c. 556; 1992, c. 136; 1994, c. 7 ; 2010, c. 794 ; 2018, cc. 130 , 266 .