§ 6.1-194.152. Acquisition of control of state savings bank
No person, whether acting alone or in concert with others, shall acquire ownership or control of twenty-five percent or more of the voting shares of a stock state savings bank, or otherwise control the election of a majority of the directors of such bank, without the approval of the Commission. The Commission shall not approve the proposed acquisition unless it finds that the savings bank will continue to operate in a safe and sound manner and the acquisition is otherwise in the public interest.
(1991, c. 230.)
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