6.2-841 - (Effective October 1, 2010) Conditions for approval.
§ 6.2-841. (Effective October 1, 2010) Conditions for approval.
No branch of an out-of-state bank may be established under this articleunless:
1. In the case of a de novo branch, the laws of the home state of theout-of-state bank permit Virginia banks to establish and maintain de novobranches in that state under substantially the same terms as set forth inthis article.
2. In the case of a branch to be established through the acquisition of abranch, the laws of the out-of-state bank permit Virginia banks to establishand maintain branches in that state through the acquisition of branches undersubstantially the same terms as set forth in this article.
(1995, c. 301, § 6.1-44.7; 2010, c. 794.)