Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-87 Assistance in making examinations

§ 6.1-87. Assistance in making examinations

Upon the making of any examination under the provisions of any of the three preceding sections (§§ 6.1-84, 6.1-85, 6.1-86), the officers, directors and employees of the bank being examined or whose affiliate is being examined shall, upon the demand of the person or officer designated to make such examination, give to such examiner full access to all the money, books, papers, notes, bills and other evidences of debts due said bank and shall also disclose fully and truly all indebtedness and liability thereof, and shall furnish all information which such examiner may deem necessary to a full investigation into the affairs of such bank. And such examiner shall have the right to examine, under oath, any and all of the directors, officers, clerks and employees in any manner connected with the operation of any such bank touching any matter or thing pertaining to such examination, and for that purpose shall have authority to administer oaths to them.

When any bank shall utilize an independent data processing service, the operations of such independent data processing firm and its records pertaining to any bank being examined shall be open to inspection by examiners, and access to such operations and information shall be a prerequisite to the use of such independent data processing services by any bank regulated hereunder.

(Code 1950, § 6-109; 1966, c. 584; 1976, c. 658.)

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Last modified: April 16, 2009