Virginia Code 6.2-1030: Discount by officer, director, or employee of refused paper.
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No officer, director, or employee of a trust company may purchase or discount any note or paper at a rate of interest in excess of what the trust company might charge knowing that the trust company has refused to purchase or discount such paper.
Terms Used In Virginia Code 6.2-1030
- 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
Code 1950, § 6-44; 1966, c. 584, § 6.1-53; 2010, c. 794.