Virginia § 6.2-701 Presumptions regarding control of entities, ownership of shares, and activities of subsidiaries or other entities

Virginia Statutes

§ 6.2-701 — Presumptions regarding control of entities, ownership of shares, and activities of subsidiaries or other entities

Virginia § 6.2-701

Title 6.2FINANCIAL INSTITUTIONS AND SERVICES

Subtitle IIDEPOSITORY INSTITUTIONS AND TRUST ORGANIZATIONS

Ch. 7ACQUISITIONS OF INTERESTS IN FINANCIAL INSTITUTIONS

This text of Virginia § 6.2-701 (Presumptions regarding control of entities, ownership of shares, and activities of subsidiaries or other entities) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 6.2-701 (2026).

Text

A.A person shall be deemed to control another entity if:

1.It owns 25 percent or more of the voting shares of the entity;

2.The person is presumed to control the entity under the Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), as amended, or under Section 10 of the Home Owners' Loan Act (12 U.S.C. § 1467a), as amended; or

3.A determination has been made by the Commission that the person exercises a controlling influence over the management and policies of the entity.

B.A financial institution holding company shall be deemed to own shares owned by a subsidiary.

C.A financial institution holding company shall be deemed to engage in activities engaged in by its subsidiary or by any other entity of which it owns five percent or more of the voting shares.

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A. A person shall be deemed to control another entity if:

1. It owns 25 percent or more of the voting shares of the entity;

2. The person is presumed to control the entity under the Bank Holding Company Act of 1956 (12 U.S.C. § 1841 et seq.), as amended, or under Section 10 of the Home Owners' Loan Act (12 U.S.C. § 1467a), as amended; or

3. A determination has been made by the Commission that the person exercises a controlling influence over the management and policies of the entity.

B. A financial institution holding company shall be deemed to own shares owned by a subsidiary.

C. A financial institution holding company shall be deemed to engage in activities engaged in by its subsidiary or by any other entity of which it owns five percent or more of the voting shares.