Virginia § 6.2-1082 - Applications for permission to offer trust services
Full text of Virginia Code of Virginia § 6.2-1082 — Applications for permission to offer trust services, with citation guidance and answers to common questions.
§ 6.2-1082. Applications for permission to offer trust services
A. An association desiring to exercise fiduciary powers, either through a trust department or through an affiliate, shall file with the Commission an application indicating which trust services it wishes to offer and providing the information necessary to make the determinations required under subsection B.
B. In addition to assessing any other facts or circumstances deemed proper, the Commission, in passing upon an application to exercise trust powers, shall not grant such application unless the Commission finds that:
1. The association's capital structure is sufficiently strong to support such additional undertaking;
2. The personnel who will direct the proposed trust department have adequate experience and training, and will devote sufficient time to its affairs to ensure compliance with the law and to protect the association against surcharge;
3. The granting of trust powers to the association will be in the public interest; and
4. The association has available legal counsel to advise and pass upon fiduciary matters wherever necessary.
1984, c. 303, § 6.1-195.79; 2010, c. 794.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-1082
What does Code of Virginia § 6.2-1082 cover?
Section 6.2-1082 ("Applications for permission to offer trust services") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 6.2-1082?
A common citation format is "Code of Virginia § 6.2-1082" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 6.2-1082 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.