Section 50. Insurance required

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In addition to the surety bond required by § 6.2-1016 of the Code of Virginia, a trust company shall maintain insurance coverage that, in kind and amount, provides adequate protection against the risks of the business. The coverage may be provided through the holding company of an affiliated trust company.

Historical Notes

Derived from VR225-01-0205 § 5, eff. April 20, 1995; amended, Volume 28, Issue 01, eff. September 1, 2011.

Statutory Authority

§§ 6.2-1034 and 12.1-13 of the Code of Virginia.

                    
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