Virginia Code 6.2-1078: Offices.
A. The office at which a private trust company begins business shall be designated initially as its principal office. The board of directors or managers of a private trust company may thereafter redesignate as the principal office another authorized office of the private trust company in the Commonwealth.
Terms Used In Virginia Code 6.2-1078
- Private trust company: means a corporation or limited liability company that is organized to engage in private trust business under this article with one or more family members and that does not transact business with the general public. See Virginia Code 6.2-1074
- 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. The board of directors or managers of a private trust company may designate, and from time to time redesignate, one additional office at which the private trust company may conduct business in the Commonwealth.
C. The private trust company shall notify the Bureau of any such redesignation of its principal office or designation or redesignation of an additional office not later than 30 days before its effective date and shall confirm to the Bureau any such designation or redesignation within 10 days of its occurrence.