CHAPTER 267

An Act to amend and reenact § 6.1-158 of the Code of Virginia, relating
to regulatory power of the State Corporation Commission in connec-
tion with savings and loan associations.

[H 612]

Approved April 1, 1968

Be it enacted by the General Assembly of Virginia:
pail That § 6.1-158 of the Code of Virginia be amended and reenacted, as

ollows:

§ 6.1-158. In addition to the * powers specifically granted to associa-
tions by the provisions of this chapter, the Commission may by appropriate
regulation amend the * powers of the State associations so as to allow *
them to compete with any other association as defined in § 6.1-129 engaged
in a similar business in this State. * The Commission shall adopt such
regulations only after public hearing thereon, notice of which shall be sent
to every savings and loan association authorized to conduct its business in
Virginia. Such regulations shall be effective upon their adoption, and shall
continue in effect until ninety days following the adjournment sine die
of the next regular session of the General Assembly of Virginia following
their adoption, after which new regulations may be adopted pursuant to
the provisions of this section.