Statutes > Virginia Statutes > Title 6.2 - FINANCIAL INSTITUTIONS AND SERVICES. > Chapter 7 - Acquisitions of Interests in Financial Institutions (6.2-700 thru 6.2-715) > 6.2-703 - (Effective October 1, 2010) Acquisition of interest in entity other than financial institution by financial institutions.

6.2-703 - (Effective October 1, 2010) Acquisition of interest in entity other than financial institution by financial institutions.

§ 6.2-703. (Effective October 1, 2010) Acquisition of interest in entityother than financial institution by financial institutions.

No financial institution shall acquire more than five percent of the votingshares or otherwise gain control of any entity other than a financialinstitution without prior notice to the Commission.

(1978, c. 683, § 6.1-383; 1983, cc. 193, 194; 2010, c. 794.)