Virginia Code 6.2-1041: Civil penalties for failure to comply with § 6.2-1031 or 6.2-1032.
A. Any trust company failing to comply with any of the provisions of § 6.2-1031, for a period of longer than 30 days, after being called upon by the Commission for a statement, or to do such other act as is therein provided, shall be subject to assessment by the Commission of a civil penalty of not less than $100 nor more than $1,000 per day for each day of noncompliance.
Terms Used In Virginia Code 6.2-1041
- Commission: means the State Corporation Commission. See Virginia Code 6.2-100
- sworn: means "affirm" or "affirmed. See Virginia Code 1-250
- 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
B. Any officer of any trust company who shall refuse to give any examiner the information or refuse to be sworn, as required by § 6.2-1032, shall be subject to assessment by the Commission of a civil penalty of not less than $25 nor more than $100 per day for each day of noncompliance.
Code 1950, § 6-128; 1966, c. 584, § 6.1-114; 1974, c. 665; 1976, c. 658; 1988, c. 555; 1997, c. 142; 2010, c. 794.