§ 6.1-194.13. Commissions, fees, etc., for sale of stock not permitted
The State Corporation Commission shall not issue a certificate of authority to any state association to commence business if commissions, fees, brokerage, or other compensation, by whatever name it may be called, have been paid or contracted to be paid by the savings and loan association, or by anyone in its behalf, either directly or indirectly, to any person, partnership, association or corporation for the sale of stock in such savings and loan association. Nothing herein shall be construed to prohibit an association which has been issued a certificate of authority and has commenced operations from paying or contracting to pay such commissions or fees in connection with the issue or reissue of shares of stock of the association.
(1985, c. 425.)
Sections: Previous 6.1-194.6 6.1-194.7 6.1-194.8 6.1-194.9 6.1-194.10 6.1-194.11 6.1-194.12 6.1-194.13 6.1-194.14 6.1-194.15 6.1-194.16 6.1-194.17 6.1-194.18 6.1-194.19 6.1-194.20 NextLast modified: April 2, 2009