§ 6.1-44.14. Nonseverability
It is the purpose of this article to authorize the establishment of branches in this Commonwealth by out-of-state banks whose home state permits Virginia banks to establish branches in that state under substantially the same terms as set forth in this article. It is not the purpose of this article to authorize branching in this state by out-of-state banks on any basis other than as expressly provided in this article. Therefore, if any provision of this article is held to be invalid for any reason by a final order of any Virginia or federal court of competent jurisdiction, then the invalidity shall cause the entire article to be invalid. However, any transaction that has been lawfully consummated pursuant to this article prior to a determination of invalidity shall be unaffected by such determination.
(1995, c. 301.)
Sections: Previous 6.1-44.7 6.1-44.8 6.1-44.9 6.1-44.10 6.1-44.11 6.1-44.12 6.1-44.13 6.1-44.14 6.1-44.15 6.1-44.16 6.1-44.17 6.1-44.18 6.1-44.19 6.1-44.20 6.1-44.21 NextLast modified: April 2, 2009