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2023 Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 13 - Credit Unions
Article 1. General Provisions
- § 6.2-1300. Definitions
- § 6.2-1301. Effect of ownership of a share account
- § 6.2-1302. Powers
- § 6.2-1302.1. Virtual currency custody services
- § 6.2-1303. Regulations
- § 6.2-1304. Franchise tax exemption
- § 6.2-1305. Making or circulating derogatory statements affecting credit unions; penalty
- § 6.2-1306. Unlawful use of words "credit union."
- § 6.2-1307. Use of credit union name, logo, or symbol for marketing purposes; penalty
Article 2. Supervision and Regulation
- § 6.2-1308. Supervision and regulation by Commission
- § 6.2-1309. Examinations
- § 6.2-1310. Fees for examination, supervision, and regulation
- § 6.2-1311. Reports to Commission; penalty for failure to make reports
- § 6.2-1312. Cease and desist orders; right to hearing
- § 6.2-1313. Powers of Commission in case of nonobservance of law, noncompliance with orders, insufficient reserves, or approaching insolvency; appointment of receiver
- § 6.2-1314. Penalties for violation of orders of Commission
- § 6.2-1315. Removal of director or officer; penalty for acting after removal
- § 6.2-1316. Offenses; penalty
- § 6.2-1317. Supervisory merger or transfer of assets of insolvent or financially unstable credit union
- § 6.2-1318. Repealed
- § 6.2-1319. Involuntary dissolution
Article 3. Formation of Credit Union
- § 6.2-1320. Incorporation
- § 6.2-1321. Certificate of authority
- § 6.2-1322. Contents of bylaws; amendments to bylaws generally
- § 6.2-1323. Amendments to articles of incorporation and bylaws
- § 6.2-1324. Bylaws amended by Commission
- § 6.2-1325. Fiscal year
- § 6.2-1326. Establishing, moving, and closing offices
Article 4. Membership
- § 6.2-1327. Membership defined; field of membership
- § 6.2-1328. Expansion of field of membership
- § 6.2-1329. Membership meetings; voting
- § 6.2-1330. Special meetings
Article 5. Share Insurance
- § 6.2-1331. Definitions
- § 6.2-1332. Insurance of shares
- § 6.2-1333. Establishment of corporation; purposes
- § 6.2-1334. Contents of corporation bylaws; amendments thereto
- § 6.2-1335. Application for membership; share insurance required
- § 6.2-1336. Loss reserve contributions
- § 6.2-1337. Annual and special assessments
- § 6.2-1338. Duties and additional powers of corporation
- § 6.2-1339. Duties and powers of Commission; judicial review
- § 6.2-1340. Supervision, reports and examinations by Commission
- § 6.2-1341. Audit by corporation and corrective measures; appeal
- § 6.2-1342. Tax exemptions
- § 6.2-1343. Inconsistent laws inapplicable
Article 6. Change in Corporate Status
- § 6.2-1344. Voluntary merger
- § 6.2-1345. Voluntary dissolution
- § 6.2-1346. Conversion of federal credit union to state credit union
- § 6.2-1347. Conversion of state credit union to federal credit union
- § 6.2-1347.1. Conversion to a state mutual savings institution
Article 7. Direction of Affairs
- § 6.2-1348. Board of directors; number; election; term; appointment of supervisory and credit committees
- § 6.2-1349. Board of directors; election of officers
- § 6.2-1350. Executive committee
- § 6.2-1351. Meetings of directors
- § 6.2-1352. Compensation of officials
- § 6.2-1353. Powers and duties of directors
- § 6.2-1354. Credit committee or loan officers; appeal
- § 6.2-1355. Supervisory committee; suspension and removal of officials
- § 6.2-1356. Special audit
- § 6.2-1357. Qualifications of officials
Article 8. Accounts
- § 6.2-1358. Share accounts
- § 6.2-1359. Payment for shares; transfers; lien on shares
- § 6.2-1360. Dividends
- § 6.2-1361. Ascertaining value of assets
- § 6.2-1362. Minors' accounts
- § 6.2-1363. Individual retirement accounts and retirement or pension plans
- § 6.2-1364. Acceptance of money under Virginia Uniform Transfers to Minors Act
- § 6.2-1365. Accounts of deceased or incapacitated person
- § 6.2-1366. Repealed
- § 6.2-1367. Application of provisions to federal credit unions
- § 6.2-1368. Accounts of fiduciaries
- § 6.2-1369. Credit union need not inquire as to fiduciary funds used to purchase shares in fiduciary's personal account
Article 9. Loans and Investments
- § 6.2-1370. Purpose and condition of loans
- § 6.2-1371. Other charges
- § 6.2-1372. Loan limits
- § 6.2-1373. Loans to members of credit committee; nonmember loans
- § 6.2-1374. Lines of credit
- § 6.2-1375. Cooperative loans
- § 6.2-1376. Authorized investments
Article 10. Reserves
Article 11. Out-of-State Credit Unions
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