§ 6.1-194.106. Nonseverability
It is the purpose of this article to authorize acquisitions of Virginia savings institution holding companies or Virginia savings institutions by savings institutions or savings institution holding companies that do not have their principal place of business in this Commonwealth only as expressly provided in this article. Therefore, notwithstanding the provisions of § 6.1-194.89, if any portion of this article pertaining to the terms and conditions for and limitations upon acquisition of Virginia savings institution holding companies and Virginia savings institutions by savings institutions and savings institution holding companies that do not have their principal place of business in this Commonwealth is determined to be invalid for any reason by a final nonappealable order of any Virginia or federal court of competent jurisdiction, then this article shall be void and of no further effect from the effective date of such order. However, any transaction that has been lawfully consummated pursuant to this article prior to a determination of invalidity shall be unaffected by such determination.
(1985, c. 425; 1994, c. 353.)
Sections: Previous 6.1-194.98 6.1-194.99 6.1-194.100 6.1-194.102 6.1-194.103 6.1-194.104 6.1-194.105 6.1-194.106 6.1-194.107 6.1-194.108 6.1-194.109 6.1-194.110 6.1-194.111 6.1-194.112 6.1-194.113 NextLast modified: April 16, 2009