CHAPTER 276

An Act to amend and reenact § 6-85 of the Code of Virginia, relating to
the payment of subscriptions to capital stock of banks and prohibiting
the payment of commissions, fees, brokerage, etc., for the sale of stock
of banks and trust companies.

[H 433]

Approved March 15, 1960

Be it enacted by the General Assembly of Virginia:
1. That § 6-35 of the Code of Virginia be amended and reenacted as
follows:

6-35. * The State Corporation Commission shall * not issue a cer-
tificate of authority to any bank to commence business if commissions,
fees, brokerage, or other compensation, by whatever name it may be called,
have been paid or contracted to be paid by * the bank, or by any one in its
behalf, either directly or indirectly, to any person, partnership, association
or corporation for the sale of stock in * said bank.

2. An emergency exists and this act is in force from its passage.