{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1064.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1064.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1064.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1064.html"}],"law_id":373588,"edition_id":2,"section_id":373588,"structure_id":53161,"section_number":"6.2-1064","catch_line":"Civil penalties for violation of Commission’s orders","history":"1968, c. 791, \u00a7 6.1-125; 1974, c. 665; 1976, c. 658; 2010, c. 794.","full_text":"A\n\nThe Commission may impose, enter judgment for, and enforce by its process, a civil penalty not exceeding $10,000 upon any trust subsidiary or against any of its directors, officers, or employees, who it determines, in proceedings commenced in accordance with the Commission’s Rules, has violated any lawful order of the Commission.\n\nB\n\nThe Commission may remove from office any director or officer of a trust subsidiary for a second or subsequent violation by him of any such order.\n\nC\n\nIn all cases the defendant shall have an opportunity to be heard and to introduce evidence, and the right to appeal as provided by law.\n\n","order_by":null,"text":{"0":{"id":1394299,"text":"The Commission may impose, enter judgment for, and enforce by its process, a civil penalty not exceeding $10,000 upon any trust subsidiary or against any of its directors, officers, or employees, who it determines, in proceedings commenced in accordance with the Commission’s Rules, has violated any lawful order of the Commission.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1394300,"text":"The Commission may remove from office any director or officer of a trust subsidiary for a second or subsequent violation by him of any such order.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":1394301,"text":"In all cases the defendant shall have an opportunity to be heard and to introduce evidence, and the right to appeal as provided by law.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":53161,"edition_id":2,"name":"Trust Subsidiaries","identifier":"3","label":"article","depth":4,"order_by":2,"parent_id":53157,"metadata":{"child_laws":18,"child_structures":0},"date_created":"2026-08-02 03:11:47","date_modified":"2026-08-02 12:28:01","permalink":{"id":1490883,"object_type":"structure","relational_id":53161,"identifier":"3","token":"6.2\/II\/10\/3","url":"\/6.2\/II\/10\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53157,"edition_id":2,"name":"Entities Conducting Trust Business","identifier":"10","label":"chapter","depth":3,"order_by":3,"parent_id":53156,"metadata":{"child_laws":100,"child_structures":6},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:28:00","permalink":{"id":1490689,"object_type":"structure","relational_id":53157,"identifier":"10","token":"6.2\/II\/10","url":"\/6.2\/II\/10\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53156,"edition_id":2,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":53152,"metadata":{"child_laws":483,"child_structures":51},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490687,"object_type":"structure","relational_id":53156,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373569,"structure_id":53161,"section_number":"6.2-1047","catch_line":"Definitions","url":"\/6.2-1047\/","token":"6.2\/II\/10\/3\/6.2-1047","metadata":false},{"id":373570,"structure_id":53161,"section_number":"6.2-1048","catch_line":"Organization of subsidiary trust companies","url":"\/6.2-1048\/","token":"6.2\/II\/10\/3\/6.2-1048","metadata":false},{"id":373571,"structure_id":53161,"section_number":"6.2-1049","catch_line":"Permissible business","url":"\/6.2-1049\/","token":"6.2\/II\/10\/3\/6.2-1049","metadata":false},{"id":373573,"structure_id":53161,"section_number":"6.2-1050","catch_line":"Directors","url":"\/6.2-1050\/","token":"6.2\/II\/10\/3\/6.2-1050","metadata":false},{"id":373574,"structure_id":53161,"section_number":"6.2-1051","catch_line":"Report to Commission of election of director","url":"\/6.2-1051\/","token":"6.2\/II\/10\/3\/6.2-1051","metadata":false},{"id":373575,"structure_id":53161,"section_number":"6.2-1052","catch_line":"Removal of director or officer; appeals; penalty","url":"\/6.2-1052\/","token":"6.2\/II\/10\/3\/6.2-1052","metadata":false},{"id":373576,"structure_id":53161,"section_number":"6.2-1053","catch_line":"Bonds required of officers and employees; blanket bond","url":"\/6.2-1053\/","token":"6.2\/II\/10\/3\/6.2-1053","metadata":false},{"id":373577,"structure_id":53161,"section_number":"6.2-1054","catch_line":"Certificate required","url":"\/6.2-1054\/","token":"6.2\/II\/10\/3\/6.2-1054","metadata":false},{"id":373578,"structure_id":53161,"section_number":"6.2-1055","catch_line":"Trust offices","url":"\/6.2-1055\/","token":"6.2\/II\/10\/3\/6.2-1055","metadata":false},{"id":373579,"structure_id":53161,"section_number":"6.2-1056","catch_line":"When security not required of trust subsidiaries","url":"\/6.2-1056\/","token":"6.2\/II\/10\/3\/6.2-1056","metadata":false},{"id":373580,"structure_id":53161,"section_number":"6.2-1057","catch_line":"Deposits held or received by trust subsidiaries or subsidiary bank with affiliate banks","url":"\/6.2-1057\/","token":"6.2\/II\/10\/3\/6.2-1057","metadata":false},{"id":373581,"structure_id":53161,"section_number":"6.2-1058","catch_line":"Substitution of trust subsidiary as fiduciary","url":"\/6.2-1058\/","token":"6.2\/II\/10\/3\/6.2-1058","metadata":false},{"id":373582,"structure_id":53161,"section_number":"6.2-1059","catch_line":"Substitution of subsidiary bank as fiduciary","url":"\/6.2-1059\/","token":"6.2\/II\/10\/3\/6.2-1059","metadata":false},{"id":373584,"structure_id":53161,"section_number":"6.2-1060","catch_line":"Trust subsidiaries to have same powers and restrictions as bank trust departments","url":"\/6.2-1060\/","token":"6.2\/II\/10\/3\/6.2-1060","metadata":false},{"id":373585,"structure_id":53161,"section_number":"6.2-1061","catch_line":"Reports; investigations and examinations; civil penalties","url":"\/6.2-1061\/","token":"6.2\/II\/10\/3\/6.2-1061","metadata":false},{"id":373586,"structure_id":53161,"section_number":"6.2-1062","catch_line":"Offenses by officer, director, agent or employee of trust subsidiary; penalties","url":"\/6.2-1062\/","token":"6.2\/II\/10\/3\/6.2-1062","metadata":false},{"id":373587,"structure_id":53161,"section_number":"6.2-1063","catch_line":"Officers, directors, agents and employees violating or causing trust subsidiary to violate laws; civil liability not affected","url":"\/6.2-1063\/","token":"6.2\/II\/10\/3\/6.2-1063","metadata":false},{"id":373588,"structure_id":53161,"section_number":"6.2-1064","catch_line":"Civil penalties for violation of Commission's orders","url":"\/6.2-1064\/","token":"6.2\/II\/10\/3\/6.2-1064","metadata":false}],"previous_section":{"id":373587,"structure_id":53161,"section_number":"6.2-1063","catch_line":"Officers, directors, agents and employees violating or causing trust subsidiary to violate laws; civil liability not affected","url":"\/6.2-1063\/","token":"6.2\/II\/10\/3\/6.2-1063","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1064\/","history_text":"

This law was first created in 1968. The record of its establishment is cataloged in chapter 791 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1968 \u201cActs\u201d aren\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1974, chapter 665; in 1976, chapter 658; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1490953,"object_type":"law","relational_id":373588,"identifier":"6.2-1064","token":"6.2\/II\/10\/3\/6.2-1064","url":"\/6.2-1064\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1064\/","token":"6.2\/II\/10\/3\/6.2-1064","dublin_core":{"Title":"Civil penalties for violation of Commission’s orders","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1064","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Commission<\/span> may impose, enter judgment<\/span> for, and enforce by its process, a civil penalty<\/span> not exceeding $10,000 upon any trust subsidiary<\/span> or against any of its directors, officers, or employees, who it determines, in proceedings commenced in accordance with the Commission<\/span>’s Rules, has violated any lawful order<\/span> of the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span> may remove from office any director or officer of a trust subsidiary<\/span> for a second or subsequent violation by him of any such order<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> In all cases the defendant<\/span> shall have an opportunity to be heard and to introduce evidence<\/span>, and the right to appeal<\/span> as provided by law<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCIVIL PENALTIES FOR VIOLATION OF COMMISSION’S ORDERS (\u00a7 6.2-1064)\n\nA. The Commission may impose, enter judgment for, and enforce by its process, a\ncivil penalty not exceeding $10,000 upon any trust subsidiary or against any of\nits directors, officers, or employees, who it determines, in proceedings\ncommenced in accordance with the Commission’s Rules, has violated any\nlawful order of the Commission.\n\nB. The Commission may remove from office any director or officer of a trust\nsubsidiary for a second or subsequent violation by him of any such order.\n\nC. In all cases the defendant shall have an opportunity to be heard and to\nintroduce evidence, and the right to appeal as provided by law.\n\nHISTORY: 1968, c. 791, \u00a7 6.1-125; 1974, c. 665; 1976, c. 658; 2010, c. 794.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}