{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1302.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1302.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1302.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1302.html"}],"law_id":85919,"edition_id":1,"section_id":85919,"structure_id":15468,"section_number":"6.2-1302","catch_line":"Powers","history":"Code 1950, \u00a7 6-209; 1966, c. 584, \u00a7 6.1-200; 1968, c. 560; 1987, c. 622, \u00a7 6.1-330.64; 1990, c. 373, \u00a7 6.1-225.21; 2006, c. 753; 2010, c. 794; 2022, cc. 606, 607; 2023, c. 303.","full_text":"In addition to the powers specified or implied elsewhere in this chapter or in the laws of the Commonwealth, a credit union shall have the power to:\n\n1\n\nEnter into contracts;2\n\nSue and be sued;3\n\nAdopt, use, and display a corporate seal;4\n\nReceive savings from and make loans and extend lines of credit to its members;5\n\nIndividually or jointly with other credit unions acquire, lease as lessor or lessee, hold, assign, pledge, exchange, repair, mortgage, hypothecate, sell, discount, or otherwise dispose of property or assets, either in whole or in part, as necessary or incidental to its operations, including any property or assets obtained as a result of defaults under obligations owing to it;6\n\nBorrow from any source, provided that (i) a credit union shall notify and obtain prior approval of the Commissioner if the total borrowings will exceed 50 percent of the credit union’s outstanding shares and (ii) in no event shall the borrowings exceed 90 percent of the credit union’s outstanding shares;7\n\nSell all or substantially all of its assets or purchase all or substantially all of the assets of another credit union, subject to the approval of the Commission;8\n\nOffer related financial services, including electronic fund transfers, share draft accounts, safe deposit boxes, leasing of tangible personal property to its members, and correspondent arrangements with other financial institutions;9\n\nHold membership in other credit unions organized under this chapter or other applicable law, and in associations and organizations controlled by or fostering the interest of credit unions, including a central liquidity facility organized under state or federal law;10\n\nContract with any licensed insurance company or society to insure the lives of its members to the extent of their loans and share accounts, in whole or in part, and to pay all or a portion of the premium therefor;11\n\nEngage in activities or programs as requested by any governmental authority, subject to the approval of the Commissioner;12\n\nInvest its funds, operate a business, manage or deal in property when such actions are reasonably necessary to avoid loss on a loan or investment previously made or an obligation previously created in good faith. Such property or business shall not be held or operated by the credit union for a period longer than is reasonably required to protect the interest of the credit union, unless specifically authorized by the Commissioner;13\n\nMake contributions to any nonprofit civic, charitable, or service organizations;14\n\nMake loans to its members and to other credit unions;15\n\nEngage in virtual currency custody services in the manner and to the extent provided in § 6.2-1302.1;16\n\nEngage in any additional activity, service, or other practice that is authorized for a federally chartered credit union and that has not otherwise been authorized for a state-chartered credit union by the provisions of this chapter or by Commission regulation, including regulations adopted pursuant to subsection B of § 6.2-1303, provided that (i) at least 45 calendar days prior to engaging in any such activity, service, or practice the credit union provides the Commissioner with written notice along with any additional information relating to the activity, service, or practice that the Commissioner may require and (ii) the credit union engages in the activity, service, or practice subject to the same terms, conditions, and limitations that are applicable to a federally chartered credit union. The Commissioner may at any time, based upon supervisory, legal, or safety and soundness considerations, prohibit or further restrict the activity, service, or practice. “Activity, service, or other practice” does not include credit union field of membership or field of membership expansion under §§ 6.2-1327 and 6.2-1328 and any related regulations; and17\n\nUndertake such other activities relating to the purposes of the credit union as its charter or bylaws may authorize, provided such activities are not inconsistent with this chapter.","order_by":null,"text":{"0":{"id":307735,"text":"In addition to the powers specified or implied elsewhere in this chapter or in the laws of the Commonwealth, a credit union shall have the power to:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":307736,"text":"Enter into contracts;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":307737,"text":"Sue and be sued;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":307738,"text":"Adopt, use, and display a corporate seal;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":307739,"text":"Receive savings from and make loans and extend lines of credit to its members;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":307740,"text":"Individually or jointly with other credit unions acquire, lease as lessor or lessee, hold, assign, pledge, exchange, repair, mortgage, hypothecate, sell, discount, or otherwise dispose of property or assets, either in whole or in part, as necessary or incidental to its operations, including any property or assets obtained as a result of defaults under obligations owing to it;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":307741,"text":"Borrow from any source, provided that (i) a credit union shall notify and obtain prior approval of the Commissioner if the total borrowings will exceed 50 percent of the credit union’s outstanding shares and (ii) in no event shall the borrowings exceed 90 percent of the credit union’s outstanding shares;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":307742,"text":"Sell all or substantially all of its assets or purchase all or substantially all of the assets of another credit union, subject to the approval of the Commission;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":307743,"text":"Offer related financial services, including electronic fund transfers, share draft accounts, safe deposit boxes, leasing of tangible personal property to its members, and correspondent arrangements with other financial institutions;","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":307744,"text":"Hold membership in other credit unions organized under this chapter or other applicable law, and in associations and organizations controlled by or fostering the interest of credit unions, including a central liquidity facility organized under state or federal law;","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8","next_prefix":"10"},"10":{"id":307745,"text":"Contract with any licensed insurance company or society to insure the lives of its members to the extent of their loans and share accounts, in whole or in part, and to pay all or a portion of the premium therefor;","type":"section","prefixes":["10"],"prefix":"10","entire_prefix":"10","prefix_anchor":"10","level":1,"prior_prefix":"9","next_prefix":"11"},"11":{"id":307746,"text":"Engage in activities or programs as requested by any governmental authority, subject to the approval of the Commissioner;","type":"section","prefixes":["11"],"prefix":"11","entire_prefix":"11","prefix_anchor":"11","level":1,"prior_prefix":"10","next_prefix":"12"},"12":{"id":307747,"text":"Invest its funds, operate a business, manage or deal in property when such actions are reasonably necessary to avoid loss on a loan or investment previously made or an obligation previously created in good faith. Such property or business shall not be held or operated by the credit union for a period longer than is reasonably required to protect the interest of the credit union, unless specifically authorized by the Commissioner;","type":"section","prefixes":["12"],"prefix":"12","entire_prefix":"12","prefix_anchor":"12","level":1,"prior_prefix":"11","next_prefix":"13"},"13":{"id":307748,"text":"Make contributions to any nonprofit civic, charitable, or service organizations;","type":"section","prefixes":["13"],"prefix":"13","entire_prefix":"13","prefix_anchor":"13","level":1,"prior_prefix":"12","next_prefix":"14"},"14":{"id":307749,"text":"Make loans to its members and to other credit unions;","type":"section","prefixes":["14"],"prefix":"14","entire_prefix":"14","prefix_anchor":"14","level":1,"prior_prefix":"13","next_prefix":"15"},"15":{"id":307750,"text":"Engage in virtual currency custody services in the manner and to the extent provided in § 6.2-1302.1;","type":"section","prefixes":["15"],"prefix":"15","entire_prefix":"15","prefix_anchor":"15","level":1,"prior_prefix":"14","next_prefix":"16"},"16":{"id":307751,"text":"Engage in any additional activity, service, or other practice that is authorized for a federally chartered credit union and that has not otherwise been authorized for a state-chartered credit union by the provisions of this chapter or by Commission regulation, including regulations adopted pursuant to subsection B of § 6.2-1303, provided that (i) at least 45 calendar days prior to engaging in any such activity, service, or practice the credit union provides the Commissioner with written notice along with any additional information relating to the activity, service, or practice that the Commissioner may require and (ii) the credit union engages in the activity, service, or practice subject to the same terms, conditions, and limitations that are applicable to a federally chartered credit union. The Commissioner may at any time, based upon supervisory, legal, or safety and soundness considerations, prohibit or further restrict the activity, service, or practice. “Activity, service, or other practice” does not include credit union field of membership or field of membership expansion under §§ 6.2-1327 and 6.2-1328 and any related regulations; and","type":"section","prefixes":["16"],"prefix":"16","entire_prefix":"16","prefix_anchor":"16","level":1,"prior_prefix":"15","next_prefix":"17"},"17":{"id":307752,"text":"Undertake such other activities relating to the purposes of the credit union as its charter or bylaws may authorize, provided such activities are not inconsistent with this chapter.","type":"section","prefixes":["17"],"prefix":"17","entire_prefix":"17","prefix_anchor":"17","level":1,"prior_prefix":"16"}},"ancestry":[{"id":15468,"edition_id":1,"name":"General Provisions","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:55:16","date_modified":"2026-06-26 03:55:16","permalink":{"id":264547,"object_type":"structure","relational_id":15468,"identifier":"1","token":"6.2\/II\/13\/1","url":"\/6.2\/II\/13\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13635,"edition_id":1,"name":"Credit Unions","identifier":"13","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:26","date_modified":"2026-06-26 03:45:26","permalink":{"id":264545,"object_type":"structure","relational_id":13635,"identifier":"13","token":"6.2\/II\/13","url":"\/6.2\/II\/13\/","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":84320,"structure_id":15468,"section_number":"6.2-1300","catch_line":"Definitions","url":"\/6.2-1300\/","token":"6.2\/II\/13\/1\/6.2-1300","metadata":false},{"id":79389,"structure_id":15468,"section_number":"6.2-1301","catch_line":"Effect of ownership of a share account","url":"\/6.2-1301\/","token":"6.2\/II\/13\/1\/6.2-1301","metadata":false},{"id":85919,"structure_id":15468,"section_number":"6.2-1302","catch_line":"Powers","url":"\/6.2-1302\/","token":"6.2\/II\/13\/1\/6.2-1302","metadata":false},{"id":83576,"structure_id":15468,"section_number":"6.2-1302.1","catch_line":"Virtual currency custody services","url":"\/6.2-1302.1\/","token":"6.2\/II\/13\/1\/6.2-1302.1","metadata":false},{"id":66827,"structure_id":15468,"section_number":"6.2-1303","catch_line":"Regulations","url":"\/6.2-1303\/","token":"6.2\/II\/13\/1\/6.2-1303","metadata":false},{"id":74426,"structure_id":15468,"section_number":"6.2-1304","catch_line":"Franchise tax exemption","url":"\/6.2-1304\/","token":"6.2\/II\/13\/1\/6.2-1304","metadata":false},{"id":58923,"structure_id":15468,"section_number":"6.2-1305","catch_line":"Making or circulating derogatory statements affecting credit unions; penalty","url":"\/6.2-1305\/","token":"6.2\/II\/13\/1\/6.2-1305","metadata":false},{"id":78451,"structure_id":15468,"section_number":"6.2-1306","catch_line":"Unlawful use of words \"credit union.\"","url":"\/6.2-1306\/","token":"6.2\/II\/13\/1\/6.2-1306","metadata":false},{"id":74777,"structure_id":15468,"section_number":"6.2-1307","catch_line":"Use of credit union name, logo, or symbol for marketing purposes; penalty","url":"\/6.2-1307\/","token":"6.2\/II\/13\/1\/6.2-1307","metadata":false}],"previous_section":{"id":79389,"structure_id":15468,"section_number":"6.2-1301","catch_line":"Effect of ownership of a share account","url":"\/6.2-1301\/","token":"6.2\/II\/13\/1\/6.2-1301","metadata":false},"next_section":{"id":83576,"structure_id":15468,"section_number":"6.2-1302.1","catch_line":"Virtual currency custody services","url":"\/6.2-1302.1\/","token":"6.2\/II\/13\/1\/6.2-1302.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1302\/","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 1966, chapter 584; in 1968, chapter 560; in 1987, chapter 622; in 1990, chapter 373; in 2006, chapter 753<\/a>; in 2010, chapter 794<\/a>; in 2022, chapters 606<\/a> and 607<\/a>; in 2023, chapter 303<\/a>.<\/p>","references":false,"refers_to":[{"id":83576,"section_number":"6.2-1302.1","catch_line":"Virtual currency custody services","order_by":null,"url":"\/6.2-1302.1\/"},{"id":66827,"section_number":"6.2-1303","catch_line":"Regulations","order_by":null,"url":"\/6.2-1303\/"},{"id":59413,"section_number":"6.2-1327","catch_line":"Membership defined; field of membership","order_by":null,"url":"\/6.2-1327\/"},{"id":76040,"section_number":"6.2-1328","catch_line":"Expansion of field of membership","order_by":null,"url":"\/6.2-1328\/"}],"permalink":{"id":264557,"object_type":"law","relational_id":85919,"identifier":"6.2-1302","token":"6.2\/II\/13\/1\/6.2-1302","url":"\/6.2-1302\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1302\/","token":"6.2\/II\/13\/1\/6.2-1302","dublin_core":{"Title":"Powers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1302","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

In addition to the powers specified or implied elsewhere in this chapter or in the laws<\/span> of the Commonwealth, a credit union<\/span> shall have the power to:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Enter into contracts<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Sue and be sued; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Adopt, use, and display a corporate seal; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Receive savings from and make loans and extend lines of credit to its members<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Individually or jointly with other credit unions<\/span> acquire, lease as lessor or lessee, hold, assign, pledge, exchange, repair, mortgage, hypothecate, sell, discount, or otherwise dispose of property or assets<\/span>, either in whole or in part, as necessary or incidental to its operations, including any property or assets<\/span> obtained as a result of defaults<\/span> under obligations owing to it; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Borrow from any source, provided that (i) a credit union<\/span> shall notify and obtain prior approval of the Commissioner<\/span> if the total borrowings will exceed 50 percent of the credit union<\/span>’s outstanding shares<\/span> and (ii) in no event shall the borrowings exceed 90 percent of the credit union<\/span>’s outstanding shares<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Sell all or substantially all of its assets<\/span> or purchase all or substantially all of the assets<\/span> of another credit union<\/span>, subject to the approval of the Commission<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Offer related financial services, including electronic fund transfers, share draft accounts, safe deposit boxes, leasing of tangible personal property to its members<\/span>, and correspondent arrangements with other financial institutions<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> Hold membership in other credit unions<\/span> organized under this chapter or other applicable law<\/span>, and in associations and organizations controlled by or fostering the interest of credit unions<\/span>, including a central liquidity facility organized under state or federal law<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> Contract<\/span> with any licensed insurance company or society to insure the lives of its members<\/span> to the extent of their loans and share accounts<\/span>, in whole or in part, and to pay all or a portion of the premium therefor; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> Engage in activities or programs as requested by any governmental authority, subject to the approval of the Commissioner<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> Invest its funds, operate a business, manage or deal in property when such actions are reasonably necessary to avoid loss on a loan or investment previously made or an obligation previously created in good faith. Such property or business shall not be held or operated by the credit union<\/span> for a period longer than is reasonably required to protect the interest of the credit union<\/span>, unless specifically authorized by the Commissioner<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

13.<\/span> Make contributions to any nonprofit civic, charitable, or service organizations; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

14.<\/span> Make loans to its members<\/span> and to other credit unions<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

15.<\/span> Engage in virtual currency custody<\/span> services in the manner and to the extent provided in § 6.2-1302.1<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

16.<\/span> Engage in any additional activity, service, or other practice that is authorized for a federally chartered credit union<\/span> and that has not otherwise been authorized for a state-chartered credit union<\/span> by the provisions of this chapter or by Commission<\/span> regulation, including regulations adopted pursuant to subsection B of § 6.2-1303<\/a>, provided that (i) at least 45 calendar days prior to engaging in any such activity, service, or practice the credit union<\/span> provides the Commissioner<\/span> with written notice along with any additional information relating to the activity, service, or practice that the Commissioner<\/span> may require and (ii) the credit union<\/span> engages in the activity, service, or practice subject to the same terms, conditions, and limitations that are applicable to a federally chartered credit union<\/span>. The Commissioner<\/span> may at any time, based upon supervisory, legal, or safety and soundness considerations, prohibit or further restrict the activity, service, or practice. “Activity, service, or other practice” does not include credit union<\/span> field of membership or field of membership expansion under §§ 6.2-1327<\/a> and 6.2-1328<\/a> and any related regulations; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

17.<\/span> Undertake such other activities relating to the purposes of the credit union<\/span> as its charter or bylaws may authorize, provided such activities are not inconsistent with this chapter. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS (\u00a7 6.2-1302)\n\nIn addition to the powers specified or implied elsewhere in this chapter or in\nthe laws of the Commonwealth, a credit union shall have the power to:\n\n1. Enter into contracts;\n\n2. Sue and be sued;\n\n3. Adopt, use, and display a corporate seal;\n\n4. Receive savings from and make loans and extend lines of credit to its\nmembers;\n\n5. Individually or jointly with other credit unions acquire, lease as lessor or\nlessee, hold, assign, pledge, exchange, repair, mortgage, hypothecate, sell,\ndiscount, or otherwise dispose of property or assets, either in whole or in\npart, as necessary or incidental to its operations, including any property or\nassets obtained as a result of defaults under obligations owing to it;\n\n6. Borrow from any source, provided that (i) a credit union shall notify and\nobtain prior approval of the Commissioner if the total borrowings will exceed 50\npercent of the credit union’s outstanding shares and (ii) in no event\nshall the borrowings exceed 90 percent of the credit union’s outstanding\nshares;\n\n7. Sell all or substantially all of its assets or purchase all or substantially\nall of the assets of another credit union, subject to the approval of the\nCommission;\n\n8. Offer related financial services, including electronic fund transfers, share\ndraft accounts, safe deposit boxes, leasing of tangible personal property to its\nmembers, and correspondent arrangements with other financial institutions;\n\n9. Hold membership in other credit unions organized under this chapter or other\napplicable law, and in associations and organizations controlled by or fostering\nthe interest of credit unions, including a central liquidity facility organized\nunder state or federal law;\n\n10. Contract with any licensed insurance company or society to insure the lives\nof its members to the extent of their loans and share accounts, in whole or in\npart, and to pay all or a portion of the premium therefor;\n\n11. Engage in activities or programs as requested by any governmental authority,\nsubject to the approval of the Commissioner;\n\n12. Invest its funds, operate a business, manage or deal in property when such\nactions are reasonably necessary to avoid loss on a loan or investment\npreviously made or an obligation previously created in good faith. Such property\nor business shall not be held or operated by the credit union for a period\nlonger than is reasonably required to protect the interest of the credit union,\nunless specifically authorized by the Commissioner;\n\n13. Make contributions to any nonprofit civic, charitable, or service\norganizations;\n\n14. Make loans to its members and to other credit unions;\n\n15. Engage in virtual currency custody services in the manner and to the extent\nprovided in § 6.2-1302.1;\n\n16. Engage in any additional activity, service, or other practice that is\nauthorized for a federally chartered credit union and that has not otherwise\nbeen authorized for a state-chartered credit union by the provisions of this\nchapter or by Commission regulation, including regulations adopted pursuant to\nsubsection B of § 6.2-1303, provided that (i) at least 45 calendar days\nprior to engaging in any such activity, service, or practice the credit union\nprovides the Commissioner with written notice along with any additional\ninformation relating to the activity, service, or practice that the Commissioner\nmay require and (ii) the credit union engages in the activity, service, or\npractice subject to the same terms, conditions, and limitations that are\napplicable to a federally chartered credit union. The Commissioner may at any\ntime, based upon supervisory, legal, or safety and soundness considerations,\nprohibit or further restrict the activity, service, or practice.\n“Activity, service, or other practice” does not include credit union\nfield of membership or field of membership expansion under §§ 6.2-1327\nand 6.2-1328 and any related regulations; and\n\n17. Undertake such other activities relating to the purposes of the credit union\nas its charter or bylaws may authorize, provided such activities are not\ninconsistent with this chapter.\n\nHISTORY: Code 1950, \u00a7 6-209; 1966, c. 584, \u00a7 6.1-200; 1968, c. 560; 1987, c.\n622, \u00a7 6.1-330.64; 1990, c. 373, \u00a7 6.1-225.21; 2006, c. 753; 2010, c. 794;\n2022, cc. 606, 607; 2023, c. 303.","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}}