HB1657: Banks; financial activities.

Chief Patron

Terry Kilgore (R-1)
Gate City, VA
Served: 1994–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

02/05/2007: signed by governor

View Entire History

Summary

Banks; financial activities. Prohibits a bank from establishing or maintaining a branch in Virginia on the premises or property of an affiliate if the affiliate engages in commercial activities, which are defined as activities in which a bank holding company, a financial holding company, a national bank, or a national bank financial subsidiary may not engage under federal law. The measure repeals provisions regarding the commercial activities of industrial loan associations and industrial loan companies. The measure will be effective upon passage. View Full Text »

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Bill Text

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