Virginia statute
Va. Code Ann. § 18.2-444.2 — Giving or accepting a fee or gift for purposes of influencing decisions of financial institution
Current through 2026 Regular Session
Part of Article 2: Bribery and Related Offenses, Code of Virginia.
Criminal charges under this statute
Full text of Va. Code Ann. § 18.2-444.2
Statutory text current through the 2026 Regular Session. This publication reproduces the text of the Code of Virginia from the official Virginia Law Portal API published by the Virginia General Assembly's Division of Legislative Automated Systems; it is not the official Code of Virginia.
A. No officer, director, or employee of a financial institution or subsidiary, affiliate or holding company thereof, or stockholder owning ten percent or more of the issued capital stock of any such financial institution or holding company, shall accept, receive or acquire any fee, gift, property interest, or other thing of value with the intent to influence the decision of the financial institution, subsidiary, affiliate or holding company with regard to any extension of credit, investment, or purchase or sale of assets by such financial institution, subsidiary, affiliate or holding company. No person shall give, provide or cause to be transferred to any such officer, director, employee or stockholder, any fee, gift, property interest or other thing of value with the intent to influence the decision of the financial institution, subsidiary, affiliate or holding company with regard to any extension of credit, investment or purchase or sale of assets by the financial institution, subsidiary, affiliate or holding company. The foregoing provisions shall not apply to salary, wages, fees or other compensation or consideration paid by, or expenses paid or reimbursed by, such financial institution, subsidiary, affiliate or holding company. The violation of this section shall be punishable as a Class 6 felony.
B. The provisions of this section shall not apply to any such officer, director, employee or stockholder who is a member of a firm of licensed brokers, in buying for or from or selling to, or for the account of, the financial institution, in the ordinary course of business, real estate or bonds, stocks, or other evidences of debt at the usual rate of commission for such service, if the officer, director, employee or stockholder notifies the board of directors of the financial institution, its cashier or secretary, in writing, that such services will be rendered for compensation prior to the rendition of the services or within five business days following the commencement of the services. If a continuing business relationship exists, an annual disclosure may be made.
C. The provisions of this section shall not apply to fees paid to any such officer, director, employee, or stockholder who renders services to a borrower outside of his relationship with the financial institution in connection with the preparation of a loan application, or in connection with the closing of a loan, in evaluating the security or affecting a lien on the collateral, where the fact of rendition of such services for compensation is disclosed in writing to the board of directors of the financial institution, or its cashier or secretary, prior to the time such services are rendered or within five business days following the commencement of the services. If a continuing business relationship exists, an annual disclosure may be made.
Official sources
Legal terms used in this section
Questions this section answers
Is giving or accepting a fee or gift for purposes of influencing decisions of financial institution a felony or a misdemeanor in Virginia?
Giving or accepting a fee or gift for purposes of influencing decisions of financial institution is a class 6 felony in Virginia under Va. Code Ann. § 18.2-444.2.
Which Virginia statute covers giving or accepting a fee or gift for purposes of influencing decisions of financial institution?
Giving or accepting a fee or gift for purposes of influencing decisions of financial institution is governed by Va. Code Ann. § 18.2-444.2 (Giving or accepting a fee or gift for purposes of influencing decisions of financial institution).
This reference is informational and is not legal advice.