Financial institutions; officers and directors. Permits the State Corporation Commission, upon petition, to permit an individual to serve as an officer or on the boards of directors of more than one financial institution if the Commission finds that the financial institutions are not in competition with each other or that one or both of the institutions might otherwise be denied capable management or direction from an individual residing in or employed in the locality served by an institution.

Statutes affected:
Introduced: 6.2-104