{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1312.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1312.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1312.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1312.html"}],"law_id":66020,"edition_id":1,"section_id":66020,"structure_id":15645,"section_number":"6.2-1312","catch_line":"Cease and desist orders; right to hearing","history":"1990, c. 373, \u00a7 6.1-225.7; 2010, c. 794.","full_text":"A\n\nThe Commission may issue and serve upon a credit union an order to cease and desist from one or more unsafe or unsound practices or violations if, in the opinion of the Commission, a credit union (i) is engaging or has engaged, or there is reasonable cause to believe is about to engage, in an unsafe or unsound practice; or (ii) is violating or has violated, or there is reasonable cause to believe is about to violate, this chapter or any other applicable law, regulation, or order. An order to cease and desist shall contain a statement of the facts constituting the alleged violations or unsafe or unsound practices, and the order may require, in terms that may be mandatory or otherwise, a credit union, its officers, directors, employees, or agents to cease and desist from such practices or violations. The order shall specify the effective date thereof and shall contain a notice to the credit union of its right to a hearing on such order in accordance with the Commission’s Rules.B\n\nIf an unsafe or unsound practice or violation specified in the order to cease and desist, or any continuation thereof, is likely to prejudice the interest of the members of the credit union, the Commission may issue an order effective immediately. An order to cease and desist shall remain in effect until it is withdrawn or terminated by the Commission after a hearing on the matter. A request for hearing under this section shall be given expeditious treatment on the docket of the Commission, and the Commission need not allow for 10 days’ notice to the parties.","order_by":null,"text":{"0":{"id":239902,"text":"The Commission may issue and serve upon a credit union an order to cease and desist from one or more unsafe or unsound practices or violations if, in the opinion of the Commission, a credit union (i) is engaging or has engaged, or there is reasonable cause to believe is about to engage, in an unsafe or unsound practice; or (ii) is violating or has violated, or there is reasonable cause to believe is about to violate, this chapter or any other applicable law, regulation, or order. An order to cease and desist shall contain a statement of the facts constituting the alleged violations or unsafe or unsound practices, and the order may require, in terms that may be mandatory or otherwise, a credit union, its officers, directors, employees, or agents to cease and desist from such practices or violations. The order shall specify the effective date thereof and shall contain a notice to the credit union of its right to a hearing on such order in accordance with the Commission’s Rules.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":239903,"text":"If an unsafe or unsound practice or violation specified in the order to cease and desist, or any continuation thereof, is likely to prejudice the interest of the members of the credit union, the Commission may issue an order effective immediately. An order to cease and desist shall remain in effect until it is withdrawn or terminated by the Commission after a hearing on the matter. A request for hearing under this section shall be given expeditious treatment on the docket of the Commission, and the Commission need not allow for 10 days’ notice to the parties.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":15645,"edition_id":1,"name":"Supervision and Regulation","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:57:20","date_modified":"2026-06-26 03:57:20","permalink":{"id":264605,"object_type":"structure","relational_id":15645,"identifier":"2","token":"6.2\/II\/13\/2","url":"\/6.2\/II\/13\/2\/","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":69039,"structure_id":15645,"section_number":"6.2-1308","catch_line":"Supervision and regulation by Commission","url":"\/6.2-1308\/","token":"6.2\/II\/13\/2\/6.2-1308","metadata":false},{"id":84662,"structure_id":15645,"section_number":"6.2-1309","catch_line":"Examinations","url":"\/6.2-1309\/","token":"6.2\/II\/13\/2\/6.2-1309","metadata":false},{"id":79662,"structure_id":15645,"section_number":"6.2-1310","catch_line":"Fees for examination, supervision, and regulation","url":"\/6.2-1310\/","token":"6.2\/II\/13\/2\/6.2-1310","metadata":false},{"id":75135,"structure_id":15645,"section_number":"6.2-1311","catch_line":"Reports to Commission; penalty for failure to make reports","url":"\/6.2-1311\/","token":"6.2\/II\/13\/2\/6.2-1311","metadata":false},{"id":66020,"structure_id":15645,"section_number":"6.2-1312","catch_line":"Cease and desist orders; right to hearing","url":"\/6.2-1312\/","token":"6.2\/II\/13\/2\/6.2-1312","metadata":false},{"id":84113,"structure_id":15645,"section_number":"6.2-1313","catch_line":"Powers of Commission in case of nonobservance of law, noncompliance with orders, insufficient reserves, or approaching insolvency; appointment of receiver","url":"\/6.2-1313\/","token":"6.2\/II\/13\/2\/6.2-1313","metadata":false},{"id":65334,"structure_id":15645,"section_number":"6.2-1314","catch_line":"Penalties for violation of orders of Commission","url":"\/6.2-1314\/","token":"6.2\/II\/13\/2\/6.2-1314","metadata":false},{"id":81331,"structure_id":15645,"section_number":"6.2-1315","catch_line":"Removal of director or officer; penalty for acting after removal","url":"\/6.2-1315\/","token":"6.2\/II\/13\/2\/6.2-1315","metadata":false},{"id":79105,"structure_id":15645,"section_number":"6.2-1316","catch_line":"Offenses; penalty","url":"\/6.2-1316\/","token":"6.2\/II\/13\/2\/6.2-1316","metadata":false},{"id":60747,"structure_id":15645,"section_number":"6.2-1317","catch_line":"Supervisory merger or transfer of assets of insolvent or financially unstable credit union","url":"\/6.2-1317\/","token":"6.2\/II\/13\/2\/6.2-1317","metadata":false},{"id":59800,"structure_id":15645,"section_number":"6.2-1318","catch_line":"Repealed","url":"\/6.2-1318\/","token":"6.2\/II\/13\/2\/6.2-1318","metadata":false},{"id":82764,"structure_id":15645,"section_number":"6.2-1319","catch_line":"Involuntary dissolution","url":"\/6.2-1319\/","token":"6.2\/II\/13\/2\/6.2-1319","metadata":false}],"previous_section":{"id":75135,"structure_id":15645,"section_number":"6.2-1311","catch_line":"Reports to Commission; penalty for failure to make reports","url":"\/6.2-1311\/","token":"6.2\/II\/13\/2\/6.2-1311","metadata":false},"next_section":{"id":84113,"structure_id":15645,"section_number":"6.2-1313","catch_line":"Powers of Commission in case of nonobservance of law, noncompliance with orders, insufficient reserves, or approaching insolvency; appointment of receiver","url":"\/6.2-1313\/","token":"6.2\/II\/13\/2\/6.2-1313","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1312\/","history_text":"

This law was first created in 1990. The record of its establishment is cataloged in chapter 373 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1990 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264623,"object_type":"law","relational_id":66020,"identifier":"6.2-1312","token":"6.2\/II\/13\/2\/6.2-1312","url":"\/6.2-1312\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1312\/","token":"6.2\/II\/13\/2\/6.2-1312","dublin_core":{"Title":"Cease and desist orders; right to hearing","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1312","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Commission<\/span> may issue<\/span> and serve upon a credit union<\/span> an order<\/span> to cease and desist from one or more unsafe or unsound practices or violations if, in the opinion<\/span> of the Commission<\/span>, a credit union<\/span> (i) is engaging or has engaged, or there is reasonable cause to believe is about to engage, in an unsafe or unsound practice; or (ii) is violating or has violated, or there is reasonable cause to believe is about to violate, this chapter or any other applicable law<\/span>, regulation, or order<\/span>. An order<\/span> to cease and desist shall contain a statement of the facts<\/span> constituting the alleged violations or unsafe or unsound practices, and the order<\/span> may require, in terms that may be mandatory or otherwise, a credit union<\/span>, its officers, directors, employees, or agents to cease and desist from such practices or violations. The order<\/span> shall specify the effective date thereof and shall contain a notice to the credit union<\/span> of its right to a hearing<\/span> on such order<\/span> in accordance with the Commission<\/span>’s Rules. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If an unsafe or unsound practice or violation specified in the order<\/span> to cease and desist, or any continuation thereof, is likely to prejudice the interest of the members<\/span> of the credit union<\/span>, the Commission<\/span> may issue<\/span> an order<\/span> effective immediately. An order<\/span> to cease and desist shall remain in effect until it is withdrawn or terminated by the Commission<\/span> after a hearing<\/span> on the matter. A request for hearing<\/span> under this section shall be given expeditious treatment on the docket<\/span> of the Commission<\/span>, and the Commission<\/span> need not allow for 10 days’ notice to the parties. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCEASE AND DESIST ORDERS; RIGHT TO HEARING (\u00a7 6.2-1312)\n\nA. The Commission may issue and serve upon a credit union an order to cease and\ndesist from one or more unsafe or unsound practices or violations if, in the\nopinion of the Commission, a credit union (i) is engaging or has engaged, or\nthere is reasonable cause to believe is about to engage, in an unsafe or unsound\npractice; or (ii) is violating or has violated, or there is reasonable cause to\nbelieve is about to violate, this chapter or any other applicable law,\nregulation, or order. An order to cease and desist shall contain a statement of\nthe facts constituting the alleged violations or unsafe or unsound practices,\nand the order may require, in terms that may be mandatory or otherwise, a credit\nunion, its officers, directors, employees, or agents to cease and desist from\nsuch practices or violations. The order shall specify the effective date thereof\nand shall contain a notice to the credit union of its right to a hearing on such\norder in accordance with the Commission’s Rules.\n\nB. If an unsafe or unsound practice or violation specified in the order to cease\nand desist, or any continuation thereof, is likely to prejudice the interest of\nthe members of the credit union, the Commission may issue an order effective\nimmediately. An order to cease and desist shall remain in effect until it is\nwithdrawn or terminated by the Commission after a hearing on the matter. A\nrequest for hearing under this section shall be given expeditious treatment on\nthe docket of the Commission, and the Commission need not allow for 10\ndays’ notice to the parties.\n\nHISTORY: 1990, c. 373, \u00a7 6.1-225.7; 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}}