Va. Code Ann. § 6.2-1154
This is the official text of Va. Code Ann. § 6.2-1154, part of Virginia’s Code of Virginia — the complete compiled statutory law of Virginia, organized into 60+ numbered titles by subject.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Revocation of certificate of authority of foreign savings institution
Official statutory text
A. The Commission may revoke a certificate of authority of a foreign savings institution if:
1. The institution fails to conduct its business in the Commonwealth in a manner consistent with the laws of the Commonwealth;
2. The affairs of the institution are in an unsafe condition;
3. The institution refuses to comply with the orders of the Commission or refuses to comply with a request by the Commissioner to review the books and records of the institution; or
4. The institution fails to pay any fees or taxes imposed by the laws of the Commonwealth.
B. The Commission may also revoke the certificate of authority of a foreign savings institution at any time that the Commission determines that the state where the principal place of business of the foreign savings institution is located has enacted or amended its laws or regulations, or taken administrative action, so as to prohibit or unfairly impede a state association or state savings bank from transacting business in that state.
1985, c. 425, § 6.1-194.46; 1994, c. 353 ; 2010, c. 794 .
1. The institution fails to conduct its business in the Commonwealth in a manner consistent with the laws of the Commonwealth;
2. The affairs of the institution are in an unsafe condition;
3. The institution refuses to comply with the orders of the Commission or refuses to comply with a request by the Commissioner to review the books and records of the institution; or
4. The institution fails to pay any fees or taxes imposed by the laws of the Commonwealth.
B. The Commission may also revoke the certificate of authority of a foreign savings institution at any time that the Commission determines that the state where the principal place of business of the foreign savings institution is located has enacted or amended its laws or regulations, or taken administrative action, so as to prohibit or unfairly impede a state association or state savings bank from transacting business in that state.
1985, c. 425, § 6.1-194.46; 1994, c. 353 ; 2010, c. 794 .
Status: in_force · Read it on the official government site
Need a lawyer in Virginia?
Find a Virginia lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.