Section 6.2-876 - Loans to executive officers or directorsA. The maximum amount of loans and other extensions of credit a bank may make to any of its executive officers or directors, and the conditions and procedures for approval of such extensions of credit, shall be governed by Federal Reserve Board Regulation O, 12 C.F.R. Part 215 , whether or not the bank is a member of the Federal Reserve System.B. The aggregate amount of a bank's extensions of credit to its executive officers or directors, and their interests, shall not be excessive. The Commission shall adopt such regulations as may be required to prevent excessive aggregate amounts of extensions of credit by a bank to such persons and their interests.Code 1950, § 6-77; 1966, c. 584, § 6.1-62; 1976, c. 658; 1978, c. 683; 1987, c. 351; 1995, c. 82; 1996, c. 13; 2004, c. 320; 2010, c. 794.Amended by Acts 2010, § c. 794.Amended by Acts 2004, § c. 320.Amended by Acts 1996, § c. 13.Amended by Acts 1995, § c. 82.Amended by Acts 1987, § c. 351.Amended by Acts 1978, § c. 683.Amended by Acts 1976, § c. 658.Amended by Acts 1966, § c. 584, § 6.1-62.