Virginia Code 6.2-1018: Minimum capital; state of incorporation; form of entity.
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A certificate shall not be issued under § 6.2-1017 to an applicant:
Terms Used In Virginia Code 6.2-1018
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Trust company: means a corporation, including an affiliated trust company, that is authorized to engage in the trust business under Article 2 (§ Virginia Code 6.2-1000
1. Unless it meets the minimum capital requirement for a trust company prescribed by § 6.2-1017; and
2. That is not a corporation organized under the laws of the Commonwealth.
1993, c. 432, §§ 6.1-32.15, 6.1-32.16; 1994, c. 7; 2010, c. 794.