§ 6.1-44.2. Definitions
As used in this article, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:
"Acquisition of a branch" means the acquisition of a branch located in a host state, without acquiring the bank of such branch.
"Affiliate" has the same meaning ascribed to it in 12 U.S.C. § 1841 (k) of the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., as amended.
"Bank" has the same meaning ascribed to it in 12 U.S.C. § 1813 (a) (1) of the Federal Deposit Insurance Company Act of 1956, 12 U.S.C. § 1811 et seq., as amended.
"Bank holding company" has the same meaning ascribed to it in 12 U.S.C. § 1841 (a) of the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., as amended.
"Commercial activities" means activities in which a bank holding company, a financial holding company, a national bank, or a national bank financial subsidiary may not engage under federal law.
"De novo branch" means a branch of a bank located in a host state which (i) is originally established by the bank as a branch and (ii) does not become a branch of the bank as a result of the acquisition of another bank or a branch of another bank, or the merger, consolidation, or conversion of any such bank or branch.
"Financial holding company" has the same meaning ascribed to it in 12 U.S.C. § 1841 (p) of the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., as amended.
"Home state" means:
1. With respect to a national bank, the state in which the main office of the bank is located;
2. With respect to a state bank, the state by which the bank is chartered;
3. With respect to a foreign bank, the state determined to be the home state of such foreign bank under 12 U.S.C. § 3103 (c).
"Host state" means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch.
"Out-of-state bank" means a bank whose home state is a state other than Virginia.
"Out-of-state state bank" means a bank chartered under the laws of any state other than Virginia.
"State" means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
"Virginia state bank" means a bank chartered under the laws of Virginia.
(1995, c. 301; 2007, c. 1.)
Sections: Previous 6.1-40 6.1-41 6.1-41.1 6.1-42 6.1-43 6.1-44 6.1-44.1 6.1-44.2 6.1-44.3 6.1-44.4 6.1-44.5 6.1-44.6 6.1-44.7 6.1-44.8 6.1-44.9 NextLast modified: April 2, 2009