CHAPTER 606

An Act to amend the Code of Virginia by adding a section numbered
6.1-48.1 providing for the report to the State Corporation Commis-
sion of certain information concerning bank directors and establishing
a penalty for knowingly making false statements therein. _
Be it enacted by the General Assembly of Virginia: |
1. That the Code of Virginia be amended by adding a section numbered
6.1-48.1, as follows:

§ 6.1-48.1. Within thirty days following the initial election of any
person as a director of a bank, the bank shall report such election to
the Commission and shall further furnish such information to the Com-
mission relative to the personal character, integrity, financial condition,
and personal and business background, as the Commission shall from
time to time prescribe. Such report shall be signed by the new director
as well as the bank. Any person knowingly making a false statement
in such a report shall be guilty of perjury and be punished accordingly.