Code of Virginia § 6.2-946. Civil penalties for violation of Commission's orders.
118 words·~1 min read·
/va/title-6-2/chapter-8/6-2-946A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The Commission may impose, enter judgment for, and enforce by its process, a civil penalty not exceeding $10,000 upon any bank, or against any of its directors, officers, or employees, who it determines, in proceedings commenced in accordance with the Commission's Rules, has violated any lawful order of the Commission.
B. The Commission may remove from office any director or officer of a bank for a second or subsequent violation by him of any such order.
C. In all cases the defendant shall have an opportunity to be heard and to introduce evidence, and the right to appeal as provided by law.
1968, c. 791, § 6.1-125; 1974, c. 665; 1976, c. 658; 2010, c. 794 .