Virginia § 6.2-1046 Civil penalties for violation of Commission's orders

Virginia Statutes

§ 6.2-1046 — Civil penalties for violation of Commission's orders

Virginia § 6.2-1046

JurisdictionVirginia

Title 6.2FINANCIAL INSTITUTIONS AND SERVICES

Subtitle IIDEPOSITORY INSTITUTIONS AND TRUST ORGANIZATIONS

Ch. 10ENTITIES CONDUCTING TRUST BUSINESS

Art. 2TRUST COMPANIES

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Bluebook

Va. Code Ann. § 6.2-1046 (2026).

Text

A.The Commission may impose, enter judgment for, and enforce by its process, a civil penalty not exceeding $10,000 upon any trust company or against any of its directors, officers, or employees, who it determines, in proceedings commenced in accordance with the Commission's Rules, has violated any lawful order of the Commission.

B.The Commission may remove from office any director or officer of a trust company for a second or subsequent violation by him of any such order.

C.In all cases the defendant shall have an opportunity to be heard and to introduce evidence, and the right to appeal as provided by law.

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A. The Commission may impose, enter judgment for, and enforce by its process, a civil penalty not exceeding $10,000 upon any trust company or against any of its directors, officers, or employees, who it determines, in proceedings commenced in accordance with the Commission's Rules, has violated any lawful order of the Commission.

B. The Commission may remove from office any director or officer of a trust company for a second or subsequent violation by him of any such order.

C. In all cases the defendant shall have an opportunity to be heard and to introduce evidence, and the right to appeal as provided by law.