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Current as of January 01, 2025 | Updated by FindLaw Staff
When (i) written application is made to the Commission by the board of directors or by the stockholders representing two-fifths of the total outstanding capital stock of any savings institution incorporated under the laws of and doing business in the Commonwealth, or (ii) in the judgment of the Commission it may be necessary for the protection of the public or of persons depositing or dealing with such savings institution, the Commission shall cause to be made a special examination of such savings institution. All expenses incident to such special examination may be charged to the savings institution so examined and shall be paid by the savings institution so charged.
Cite this article: FindLaw.com - Virginia Code Title 6.2. Financial Institutions and Services § 6.2-1201. Special examinations - last updated January 01, 2025 | https://codes.findlaw.com/va/title-6-2-financial-institutions-and-services/va-code-sect-6-2-1201/
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