Statutes > Virginia Statutes > Title 6.1 - BANKING AND FINANCE. > Chapter 2 - Banking Act (6.1-3 thru 6.1-125) > 6.1-32.4 - (Repealed effective October 1, 2010) Directors of such companies.

6.1-32.4 - (Repealed effective October 1, 2010) Directors of such companies.

§ 6.1-32.4. (Repealed effective October 1, 2010) Directors of such companies.

The affairs of every trust subsidiary incorporated under the laws of thisCommonwealth shall be managed by a board of directors which shall consist ofnot less than five persons. A majority of the directors shall be citizens ofthis Commonwealth, but directors need not be stockholders of the trustsubsidiary unless the articles of incorporation so require.

(1974, c. 286.)