Section 10. Interest rate for state-chartered banks

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State-chartered banks in Virginia may take, receive, reserve and charge on any loan or discount made at a rate of 1.0% above the discount rate on 90 day commercial paper now and hereafter in effect at the Federal Reserve Bank for the Fifth Federal Reserve District, and they hereby are so empowered.

Historical Notes

Derived from VR225-01-0201, eff. July 25, 1978.

Statutory Authority

§ 6.2-310 of the Code of Virginia.

                    
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