{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1102.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1102.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1102.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1102.html"}],"law_id":62061,"edition_id":1,"section_id":62061,"structure_id":13491,"section_number":"6.2-1102","catch_line":"Associations operating share accumulation loan plans; continued operation","history":"Code 1950, \u00a7\u00a7 6-201.2; 1960, c. 402; 1966, c. 584, \u00a7 6.1-127; 1972, c. 796, \u00a7 6.1-195.2; 1974, c. 565; 1985, c. 425, \u00a7 6.1-194.91; 1986, cc. 500, 509; 1990, c. 3; 2010, c. 794.","full_text":"Notwithstanding any other provision of law with respect to the rates of interest that may be charged, an association that on September 1, 1959, was operating on a share accumulation loan plan whereby its earnings were equitably distributed to both its borrowers and its shareholders may continue to operate upon the same plan, but no additional loans shall be made or shares issued under such plan after July 1, 1974.","order_by":null,"text":{"0":{"id":226474,"text":"Notwithstanding any other provision of law with respect to the rates of interest that may be charged, an association that on September 1, 1959, was operating on a share accumulation loan plan whereby its earnings were equitably distributed to both its borrowers and its shareholders may continue to operate upon the same plan, but no additional loans shall be made or shares issued under such plan after July 1, 1974.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13491,"edition_id":1,"name":"General Provisions","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13490,"metadata":{},"date_created":"2026-06-26 03:45:01","date_modified":"2026-06-26 03:45:01","permalink":{"id":264103,"object_type":"structure","relational_id":13491,"identifier":"1","token":"6.2\/II\/11\/1","url":"\/6.2\/II\/11\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13490,"edition_id":1,"name":"Savings Institutions","identifier":"11","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:01","date_modified":"2026-06-26 03:45:01","permalink":{"id":264101,"object_type":"structure","relational_id":13490,"identifier":"11","token":"6.2\/II\/11","url":"\/6.2\/II\/11\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13000,"edition_id":1,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263685,"object_type":"structure","relational_id":13000,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":68689,"structure_id":13491,"section_number":"6.2-1100","catch_line":"Definitions","url":"\/6.2-1100\/","token":"6.2\/II\/11\/1\/6.2-1100","metadata":false},{"id":57583,"structure_id":13491,"section_number":"6.2-1101","catch_line":"Construction and application of chapter","url":"\/6.2-1101\/","token":"6.2\/II\/11\/1\/6.2-1101","metadata":false},{"id":62061,"structure_id":13491,"section_number":"6.2-1102","catch_line":"Associations operating share accumulation loan plans; 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penalty","url":"\/6.2-1107\/","token":"6.2\/II\/11\/1\/6.2-1107","metadata":false},{"id":76401,"structure_id":13491,"section_number":"6.2-1108","catch_line":"Membership in Federal Home Loan Bank and Federal Deposit Insurance Corporation authorized; insurance required as a condition to receiving deposits; representations that accounts are insured; misleading advertisements","url":"\/6.2-1108\/","token":"6.2\/II\/11\/1\/6.2-1108","metadata":false},{"id":56446,"structure_id":13491,"section_number":"6.2-1109","catch_line":"Representations that accounts are insured; misleading advertisements","url":"\/6.2-1109\/","token":"6.2\/II\/11\/1\/6.2-1109","metadata":false},{"id":65199,"structure_id":13491,"section_number":"6.2-1110","catch_line":"Membership in facilitating organizations or instrumentalities","url":"\/6.2-1110\/","token":"6.2\/II\/11\/1\/6.2-1110","metadata":false},{"id":54454,"structure_id":13491,"section_number":"6.2-1111","catch_line":"Authority to purchase, convey or manage property in which state savings institution has a security interest; time limitation","url":"\/6.2-1111\/","token":"6.2\/II\/11\/1\/6.2-1111","metadata":false},{"id":75104,"structure_id":13491,"section_number":"6.2-1112","catch_line":"Applicability of Virginia Uniform Commercial Code to commercial paper and depository activities of savings institutions","url":"\/6.2-1112\/","token":"6.2\/II\/11\/1\/6.2-1112","metadata":false},{"id":84515,"structure_id":13491,"section_number":"6.2-1113","catch_line":"Discoverability or admissibility of compliance review committee documents","url":"\/6.2-1113\/","token":"6.2\/II\/11\/1\/6.2-1113","metadata":false}],"previous_section":{"id":57583,"structure_id":13491,"section_number":"6.2-1101","catch_line":"Construction and application of chapter","url":"\/6.2-1101\/","token":"6.2\/II\/11\/1\/6.2-1101","metadata":false},"next_section":{"id":69374,"structure_id":13491,"section_number":"6.2-1103","catch_line":"Prohibitions on conduct of savings institution business; exceptions; penalty","url":"\/6.2-1103\/","token":"6.2\/II\/11\/1\/6.2-1103","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1102\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 8 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1960, chapter 402; in 1966, chapter 584; in 1972, chapter 796; in 1974, chapter 565; in 1985, chapter 425; in 1986, chapters 500 and 509; in 1990, chapter 3; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264113,"object_type":"law","relational_id":62061,"identifier":"6.2-1102","token":"6.2\/II\/11\/1\/6.2-1102","url":"\/6.2-1102\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1102\/","token":"6.2\/II\/11\/1\/6.2-1102","dublin_core":{"Title":"Associations operating share accumulation loan plans; continued operation","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1102","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Notwithstanding any other provision of law<\/span> with respect to the rates of interest that may be charged, an association<\/span> that on September 1, 1959, was operating on a share accumulation loan plan whereby its earnings were equitably distributed to both its borrowers and its shareholders may continue to operate upon the same plan, but no additional loans shall be made or shares issued under such plan after July 1, 1974.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nASSOCIATIONS OPERATING SHARE ACCUMULATION LOAN PLANS; CONTINUED OPERATION (\u00a7\n6.2-1102)\n\nNotwithstanding any other provision of law with respect to the rates of interest\nthat may be charged, an association that on September 1, 1959, was operating on\na share accumulation loan plan whereby its earnings were equitably distributed\nto both its borrowers and its shareholders may continue to operate upon the same\nplan, but no additional loans shall be made or shares issued under such plan\nafter July 1, 1974.\n\nHISTORY: Code 1950, \u00a7\u00a7 6-201.2; 1960, c. 402; 1966, c. 584, \u00a7 6.1-127; 1972,\nc. 796, \u00a7 6.1-195.2; 1974, c. 565; 1985, c. 425, \u00a7 6.1-194.91; 1986, cc. 500,\n509; 1990, c. 3; 2010, c. 794.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}