{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1125.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1125.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1125.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1125.html"}],"law_id":84832,"edition_id":1,"section_id":84832,"structure_id":14426,"section_number":"6.2-1125","catch_line":"Access to books and records; communication with members","history":"Code 1950, \u00a7 6-201.39; 1960, c. 402; 1966, c. 584, \u00a7 6.1-169; 1972, c. 796, \u00a7 6.1-195.46; 1985, c. 425, \u00a7 6.1-194.18; 1988, c. 555; 1990, c. 3; 1994, c. 319; 2010, c. 794.","full_text":"A\n\nEvery person having an account or loan with a savings institution shall have the right to inspect the books and records of the institution that pertain to his loan or account. In all other situations the right to inspect and examine the institution’s books and records shall be limited to:1\n\nThe Commissioner or his duly authorized representatives;2\n\nPersons duly authorized to act for the institution; and3\n\nAny federal or state instrumentality or agency authorized to inspect or examine the books and records of such institution.B\n\nThe books and records pertaining to the accounts and loans of a savings institution shall be kept confidential by the institution, its directors, officers, and employees except where the disclosure thereof shall be compelled by an appropriate court or otherwise required by law. No person shall have access to the books and records of the institution or shall be furnished or shall possess information concerning individual accounts or loans of the institution or concerning the owners of such accounts or borrowers, except as authorized in writing by the account owner or borrower or as otherwise expressly authorized by law. A savings institution is authorized to release, publish or furnish general information and statistical data concerning its accounts and loans, provided the identity of individual account owners or borrowers, and other confidential information, is not revealed.C\n\nIf any member of a mutual savings institution desires to communicate with other members with reference to any questions pending or to be presented for consideration at a meeting of the members, the institution shall furnish upon request a statement of the approximate number of members of the institution at the time of such request and an estimate of the cost of forwarding such communication. The requesting member shall then submit the communication, together with a sworn statement that the proposed communication is not for any reason other than the business welfare of the institution, to the Commissioner. If the Commissioner finds the communication to be appropriate, truthful and in the best interest of the institution and its members, he shall execute a certificate setting out such findings, forward the certificate together with the communication to the institution, and direct that the communication be prepared and mailed by the institution to the members upon the requesting member’s payment to it of the expenses of such preparation and mailing. If the Commissioner finds such proposed communication to be inappropriate, untruthful, or contrary to the best interest of the institution and its members, he may make any disposition of the request to communicate that he deems proper and he shall execute a certificate setting out such findings and deliver it to the requesting member together with his order making disposition of the request.D\n\nInsofar as the provisions of this section are not inconsistent with federal law, such provisions shall apply to federal savings institutions whose home offices are located in the Commonwealth, except that the communication and statement provided for in subsection C shall be tendered to the appropriate federal agency in the case of a federal savings institution and forwarded only upon that agency’s certificate and direction.E\n\nNothing in this section shall be construed to prohibit a savings institution from furnishing the names, addresses and telephone numbers of its customers to an affiliate of the institution or an entity with whom the institution has a direct contractual relationship, for purposes of furnishing financial services to the institution’s customers. Such affiliate or entity shall not furnish such customer information to any third party without the written authorization of the customer.","order_by":null,"text":{"0":{"id":303948,"text":"Every person having an account or loan with a savings institution shall have the right to inspect the books and records of the institution that pertain to his loan or account. In all other situations the right to inspect and examine the institution’s books and records shall be limited to:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":303949,"text":"The Commissioner or his duly authorized representatives;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":303950,"text":"Persons duly authorized to act for the institution; and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":303951,"text":"Any federal or state instrumentality or agency authorized to inspect or examine the books and records of such institution.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":303952,"text":"The books and records pertaining to the accounts and loans of a savings institution shall be kept confidential by the institution, its directors, officers, and employees except where the disclosure thereof shall be compelled by an appropriate court or otherwise required by law. No person shall have access to the books and records of the institution or shall be furnished or shall possess information concerning individual accounts or loans of the institution or concerning the owners of such accounts or borrowers, except as authorized in writing by the account owner or borrower or as otherwise expressly authorized by law. A savings institution is authorized to release, publish or furnish general information and statistical data concerning its accounts and loans, provided the identity of individual account owners or borrowers, and other confidential information, is not revealed.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"C"},"5":{"id":303953,"text":"If any member of a mutual savings institution desires to communicate with other members with reference to any questions pending or to be presented for consideration at a meeting of the members, the institution shall furnish upon request a statement of the approximate number of members of the institution at the time of such request and an estimate of the cost of forwarding such communication. The requesting member shall then submit the communication, together with a sworn statement that the proposed communication is not for any reason other than the business welfare of the institution, to the Commissioner. If the Commissioner finds the communication to be appropriate, truthful and in the best interest of the institution and its members, he shall execute a certificate setting out such findings, forward the certificate together with the communication to the institution, and direct that the communication be prepared and mailed by the institution to the members upon the requesting member’s payment to it of the expenses of such preparation and mailing. If the Commissioner finds such proposed communication to be inappropriate, untruthful, or contrary to the best interest of the institution and its members, he may make any disposition of the request to communicate that he deems proper and he shall execute a certificate setting out such findings and deliver it to the requesting member together with his order making disposition of the request.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"6":{"id":303954,"text":"Insofar as the provisions of this section are not inconsistent with federal law, such provisions shall apply to federal savings institutions whose home offices are located in the Commonwealth, except that the communication and statement provided for in subsection C shall be tendered to the appropriate federal agency in the case of a federal savings institution and forwarded only upon that agency’s certificate and direction.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"7":{"id":303955,"text":"Nothing in this section shall be construed to prohibit a savings institution from furnishing the names, addresses and telephone numbers of its customers to an affiliate of the institution or an entity with whom the institution has a direct contractual relationship, for purposes of furnishing financial services to the institution’s customers. Such affiliate or entity shall not furnish such customer information to any third party without the written authorization of the customer.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":14426,"edition_id":1,"name":"Incorporation; Certificate of Authority; Corporate Administration","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13490,"metadata":{},"date_created":"2026-06-26 03:48:06","date_modified":"2026-06-26 03:48:06","permalink":{"id":264161,"object_type":"structure","relational_id":14426,"identifier":"2","token":"6.2\/II\/11\/2","url":"\/6.2\/II\/11\/2\/","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":67165,"structure_id":14426,"section_number":"6.2-1114","catch_line":"Application of Virginia Stock Corporation Act and Virginia Nonstock Corporation Act","url":"\/6.2-1114\/","token":"6.2\/II\/11\/2\/6.2-1114","metadata":false},{"id":67065,"structure_id":14426,"section_number":"6.2-1115","catch_line":"Formation of state savings institutions","url":"\/6.2-1115\/","token":"6.2\/II\/11\/2\/6.2-1115","metadata":false},{"id":55786,"structure_id":14426,"section_number":"6.2-1116","catch_line":"Corporation name","url":"\/6.2-1116\/","token":"6.2\/II\/11\/2\/6.2-1116","metadata":false},{"id":86871,"structure_id":14426,"section_number":"6.2-1117","catch_line":"Par value of shares; payment of shares; reacquisitions of shares or acceptance thereof as security; how subscriptions to stock to be paid; disposition of money received before institution opens; stock option plans","url":"\/6.2-1117\/","token":"6.2\/II\/11\/2\/6.2-1117","metadata":false},{"id":57320,"structure_id":14426,"section_number":"6.2-1118","catch_line":"Certificate of authority to do business","url":"\/6.2-1118\/","token":"6.2\/II\/11\/2\/6.2-1118","metadata":false},{"id":83031,"structure_id":14426,"section_number":"6.2-1119","catch_line":"Commissions and other fees for sale of stock not permitted","url":"\/6.2-1119\/","token":"6.2\/II\/11\/2\/6.2-1119","metadata":false},{"id":73082,"structure_id":14426,"section_number":"6.2-1120","catch_line":"Minimum capital requirement","url":"\/6.2-1120\/","token":"6.2\/II\/11\/2\/6.2-1120","metadata":false},{"id":79467,"structure_id":14426,"section_number":"6.2-1121","catch_line":"Board of directors","url":"\/6.2-1121\/","token":"6.2\/II\/11\/2\/6.2-1121","metadata":false},{"id":82570,"structure_id":14426,"section_number":"6.2-1122","catch_line":"Meetings of board of directors","url":"\/6.2-1122\/","token":"6.2\/II\/11\/2\/6.2-1122","metadata":false},{"id":78474,"structure_id":14426,"section_number":"6.2-1123","catch_line":"Notice of meetings of members; determining members entitled to notice or to vote","url":"\/6.2-1123\/","token":"6.2\/II\/11\/2\/6.2-1123","metadata":false},{"id":73534,"structure_id":14426,"section_number":"6.2-1124","catch_line":"Voting rights; proxies","url":"\/6.2-1124\/","token":"6.2\/II\/11\/2\/6.2-1124","metadata":false},{"id":84832,"structure_id":14426,"section_number":"6.2-1125","catch_line":"Access to books and records; communication with members","url":"\/6.2-1125\/","token":"6.2\/II\/11\/2\/6.2-1125","metadata":false},{"id":69406,"structure_id":14426,"section_number":"6.2-1126","catch_line":"Audit of savings institution; report","url":"\/6.2-1126\/","token":"6.2\/II\/11\/2\/6.2-1126","metadata":false},{"id":82490,"structure_id":14426,"section_number":"6.2-1127","catch_line":"Bonds of officers and employees","url":"\/6.2-1127\/","token":"6.2\/II\/11\/2\/6.2-1127","metadata":false},{"id":70597,"structure_id":14426,"section_number":"6.2-1128","catch_line":"Loans to executive officers or directors","url":"\/6.2-1128\/","token":"6.2\/II\/11\/2\/6.2-1128","metadata":false},{"id":74367,"structure_id":14426,"section_number":"6.2-1129","catch_line":"Overdrafts by savings institution officers, directors or employees","url":"\/6.2-1129\/","token":"6.2\/II\/11\/2\/6.2-1129","metadata":false},{"id":63419,"structure_id":14426,"section_number":"6.2-1130","catch_line":"Reserves; surplus and undivided profits","url":"\/6.2-1130\/","token":"6.2\/II\/11\/2\/6.2-1130","metadata":false},{"id":56309,"structure_id":14426,"section_number":"6.2-1131","catch_line":"Liability of members of mutual savings institutions","url":"\/6.2-1131\/","token":"6.2\/II\/11\/2\/6.2-1131","metadata":false},{"id":60084,"structure_id":14426,"section_number":"6.2-1132","catch_line":"Mutual capital certificates","url":"\/6.2-1132\/","token":"6.2\/II\/11\/2\/6.2-1132","metadata":false}],"previous_section":{"id":73534,"structure_id":14426,"section_number":"6.2-1124","catch_line":"Voting rights; proxies","url":"\/6.2-1124\/","token":"6.2\/II\/11\/2\/6.2-1124","metadata":false},"next_section":{"id":69406,"structure_id":14426,"section_number":"6.2-1126","catch_line":"Audit of savings institution; report","url":"\/6.2-1126\/","token":"6.2\/II\/11\/2\/6.2-1126","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1125\/","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 1985, chapter 425; in 1988, chapter 555; in 1990, chapter 3; in 1994, chapter 319<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264207,"object_type":"law","relational_id":84832,"identifier":"6.2-1125","token":"6.2\/II\/11\/2\/6.2-1125","url":"\/6.2-1125\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1125\/","token":"6.2\/II\/11\/2\/6.2-1125","dublin_core":{"Title":"Access to books and records; communication with members","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1125","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Every person<\/span> having an account<\/span> or loan with a savings institution<\/span> shall have the right to inspect the books and records of the institution that pertain to his loan or account<\/span>. In all other situations the right to inspect and examine the institution’s books and records shall be limited to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The Commissioner<\/span> or his duly authorized representatives; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Persons<\/span> duly authorized to act for the institution; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Any federal or state instrumentality or agency authorized to inspect or examine the books and records of such institution. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The books and records pertaining to the accounts<\/span> and loans of a savings institution<\/span> shall be kept confidential by the institution, its directors, officers, and employees except where the disclosure thereof shall be compelled by an appropriate court<\/span> or otherwise required by law<\/span>. No person<\/span> shall have access to the books and records of the institution or shall be furnished or shall possess information concerning individual accounts<\/span> or loans of the institution or concerning the owners of such accounts<\/span> or borrowers, except as authorized in writing by the account<\/span> owner or borrower or as otherwise expressly authorized by law<\/span>. A savings institution<\/span> is authorized to release, publish or furnish general information and statistical data concerning its accounts<\/span> and loans, provided the identity of individual account<\/span> owners or borrowers, and other confidential information, is not revealed. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If any member<\/span> of a mutual savings institution<\/span> desires to communicate with other members<\/span> with reference to any questions pending or to be presented for consideration at a meeting of the members<\/span>, the institution shall furnish upon request a statement of the approximate number of members<\/span> of the institution at the time of such request and an estimate of the cost of forwarding such communication. The requesting member<\/span> shall then submit the communication, together with a sworn statement that the proposed communication is not for any reason other than the business welfare of the institution, to the Commissioner<\/span>. If the Commissioner<\/span> finds the communication to be appropriate, truthful and in the best interest of the institution and its members<\/span>, he shall execute a certificate setting out such findings<\/span>, forward the certificate together with the communication to the institution, and direct that the communication be prepared and mailed by the institution to the members<\/span> upon the requesting member<\/span>’s payment to it of the expenses of such preparation and mailing. If the Commissioner<\/span> finds such proposed communication to be inappropriate, untruthful, or contrary to the best interest of the institution and its members<\/span>, he may make any disposition<\/span> of the request to communicate that he deems proper and he shall execute a certificate setting out such findings<\/span> and deliver it to the requesting member<\/span> together with his order<\/span> making disposition<\/span> of the request. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Insofar as the provisions of this section are not inconsistent with federal law<\/span>, such provisions shall apply to federal savings institutions<\/span> whose home offices are located in the Commonwealth, except that the communication and statement provided for in subsection C shall be tendered to the appropriate federal agency in the case of a federal savings institution<\/span> and forwarded only upon that agency’s certificate and direction. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Nothing in this section shall be construed to prohibit a savings institution from furnishing the names, addresses and telephone numbers of its customers to an affiliate of the institution or an entity<\/span> with whom the institution has a direct contractual relationship, for purposes of furnishing financial services to the institution’s customers. Such affiliate or entity<\/span> shall not furnish such customer information to any third party<\/span> without the written authorization of the customer. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nACCESS TO BOOKS AND RECORDS; COMMUNICATION WITH MEMBERS (\u00a7 6.2-1125)\n\nA. Every person having an account or loan with a savings institution shall have\nthe right to inspect the books and records of the institution that pertain to\nhis loan or account. In all other situations the right to inspect and examine\nthe institution’s books and records shall be limited to:\n\n 1. The Commissioner or his duly authorized representatives;\n\n 2. Persons duly authorized to act for the institution; and\n\n 3. Any federal or state instrumentality or agency authorized to inspect or\n examine the books and records of such institution.\n\nB. The books and records pertaining to the accounts and loans of a savings\ninstitution shall be kept confidential by the institution, its directors,\nofficers, and employees except where the disclosure thereof shall be compelled\nby an appropriate court or otherwise required by law. No person shall have\naccess to the books and records of the institution or shall be furnished or\nshall possess information concerning individual accounts or loans of the\ninstitution or concerning the owners of such accounts or borrowers, except as\nauthorized in writing by the account owner or borrower or as otherwise expressly\nauthorized by law. A savings institution is authorized to release, publish or\nfurnish general information and statistical data concerning its accounts and\nloans, provided the identity of individual account owners or borrowers, and\nother confidential information, is not revealed.\n\nC. If any member of a mutual savings institution desires to communicate with\nother members with reference to any questions pending or to be presented for\nconsideration at a meeting of the members, the institution shall furnish upon\nrequest a statement of the approximate number of members of the institution at\nthe time of such request and an estimate of the cost of forwarding such\ncommunication. The requesting member shall then submit the communication,\ntogether with a sworn statement that the proposed communication is not for any\nreason other than the business welfare of the institution, to the Commissioner.\nIf the Commissioner finds the communication to be appropriate, truthful and in\nthe best interest of the institution and its members, he shall execute a\ncertificate setting out such findings, forward the certificate together with the\ncommunication to the institution, and direct that the communication be prepared\nand mailed by the institution to the members upon the requesting member’s\npayment to it of the expenses of such preparation and mailing. If the\nCommissioner finds such proposed communication to be inappropriate, untruthful,\nor contrary to the best interest of the institution and its members, he may make\nany disposition of the request to communicate that he deems proper and he shall\nexecute a certificate setting out such findings and deliver it to the requesting\nmember together with his order making disposition of the request.\n\nD. Insofar as the provisions of this section are not inconsistent with federal\nlaw, such provisions shall apply to federal savings institutions whose home\noffices are located in the Commonwealth, except that the communication and\nstatement provided for in subsection C shall be tendered to the appropriate\nfederal agency in the case of a federal savings institution and forwarded only\nupon that agency’s certificate and direction.\n\nE. Nothing in this section shall be construed to prohibit a savings institution\nfrom furnishing the names, addresses and telephone numbers of its customers to\nan affiliate of the institution or an entity with whom the institution has a\ndirect contractual relationship, for purposes of furnishing financial services\nto the institution’s customers. Such affiliate or entity shall not furnish\nsuch customer information to any third party without the written authorization\nof the customer.\n\nHISTORY: Code 1950, \u00a7 6-201.39; 1960, c. 402; 1966, c. 584, \u00a7 6.1-169; 1972,\nc. 796, \u00a7 6.1-195.46; 1985, c. 425, \u00a7 6.1-194.18; 1988, c. 555; 1990, c. 3;\n1994, c. 319; 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}}