CHAPTER 371
An Act to amend the Code of Virginia by adding a section numbered
6-27.1, relating to where certain branch banks may be located. _
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia be amended by adding a section numbered
6-27.1, as follows:
§ 6-27.1. Notwithstanding the limitations of §§ 6-26 and 6-27, the
State Corporation Commission may, when satisfied that public convenience
and necessity will thereby be served, authorize the establishment of branch
banks in cities contiguous to the county or city in which the parent bank
is located, and the establishment of branch banks in counties contiguous
to the city in which the parent bank is located. Establishment of such
branches may be by merger, consolidation, purchase of assets or creation
of a new branch; but if the parent bank is located in a city such branches
in the contiguous county may not be established more than five miles out-
side the city limits.