This law section addresses the circumstances under which fees or gifts can be given or accepted to influence decisions related to financial institutions, including disclosures required for such transactions. It also provides immunity for witnesses testifying about bribes, protecting them from prosecution for their testimony. The provisions aim to prevent undue influence while safeguarding honest witnesses.
Fees paid for services outside of the relationship with the financial institution, such as loan preparation or closing, are exempt if disclosed in writing beforehand or within five business days.
Yes, witnesses who testify about bribes are immune from prosecution for giving, offering, or accepting bribes related to their testimony.
Disclosures must be made in writing to the institution's board of directors or its cashier or secretary before services are rendered, or within five business days if after the start of services.
No, Virginia law provides immunity to witnesses who testify about bribery, preventing prosecution for the bribe related to their testimony.