{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1322.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1322.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1322.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1322.html"}],"law_id":59522,"edition_id":1,"section_id":59522,"structure_id":14312,"section_number":"6.2-1322","catch_line":"Contents of bylaws; amendments to bylaws generally","history":"Code 1950, \u00a7 6-207; 1956, c. 90; 1966, c. 584, \u00a7 6.1-198; 1968, c. 560; 1980, c. 181; 1983, c. 300; 1990, c. 373, \u00a7 6.1-225.15; 2010, c. 794.","full_text":"The bylaws of a credit union shall specify:\n\n1\n\nThe name of the credit union;2\n\nThe purpose for which it was formed;3\n\nThe time of the annual meeting of the members of the credit union, or a provision that the board of directors may set the time for the meeting. Such a meeting shall be held each calendar year. Notice of all meetings shall be given in a manner prescribed in the bylaws, subject to compliance with § 13.1-842;4\n\nThe number, authority, and the duties of the directors and the authority, duties, and maximum compensation of all officers;5\n\nThe conditions and qualifications for membership;6\n\nThe number of members of the credit committee, if any, and of the supervisory committee, with their respective authorities and duties;7\n\nThe conditions upon which shares may be issued, transferred, or withdrawn;8\n\nThe conditions upon which loans may be made and repaid;9\n\nThe manner of effecting the forfeiture of a member’s shares when a member’s share account balance is below the amount established by the bylaws and remains below such amount for a period of two years;10\n\nThe manner in which dividends shall be determined and paid out;11\n\nThe manner in which remaining assets are to be distributed in the event of dissolution after all distributions required by subdivision A 1 of § 13.1-907 have been made; and12\n\nThe manner in which bylaws may be amended.","order_by":null,"text":{"0":{"id":218068,"text":"The bylaws of a credit union shall specify:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":218069,"text":"The name of the credit union;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":218070,"text":"The purpose for which it was formed;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":218071,"text":"The time of the annual meeting of the members of the credit union, or a provision that the board of directors may set the time for the meeting. Such a meeting shall be held each calendar year. Notice of all meetings shall be given in a manner prescribed in the bylaws, subject to compliance with § 13.1-842;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":218072,"text":"The number, authority, and the duties of the directors and the authority, duties, and maximum compensation of all officers;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":218073,"text":"The conditions and qualifications for membership;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":218074,"text":"The number of members of the credit committee, if any, and of the supervisory committee, with their respective authorities and duties;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":218075,"text":"The conditions upon which shares may be issued, transferred, or withdrawn;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":218076,"text":"The conditions upon which loans may be made and repaid;","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":218077,"text":"The manner of effecting the forfeiture of a member’s shares when a member’s share account balance is below the amount established by the bylaws and remains below such amount for a period of two years;","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8","next_prefix":"10"},"10":{"id":218078,"text":"The manner in which dividends shall be determined and paid out;","type":"section","prefixes":["10"],"prefix":"10","entire_prefix":"10","prefix_anchor":"10","level":1,"prior_prefix":"9","next_prefix":"11"},"11":{"id":218079,"text":"The manner in which remaining assets are to be distributed in the event of dissolution after all distributions required by subdivision A 1 of § 13.1-907 have been made; and","type":"section","prefixes":["11"],"prefix":"11","entire_prefix":"11","prefix_anchor":"11","level":1,"prior_prefix":"10","next_prefix":"12"},"12":{"id":218080,"text":"The manner in which bylaws may be amended.","type":"section","prefixes":["12"],"prefix":"12","entire_prefix":"12","prefix_anchor":"12","level":1,"prior_prefix":"11"}},"ancestry":[{"id":14312,"edition_id":1,"name":"Formation of Credit Union","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:47:42","date_modified":"2026-06-26 03:47:42","permalink":{"id":264655,"object_type":"structure","relational_id":14312,"identifier":"3","token":"6.2\/II\/13\/3","url":"\/6.2\/II\/13\/3\/","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":56398,"structure_id":14312,"section_number":"6.2-1320","catch_line":"Incorporation","url":"\/6.2-1320\/","token":"6.2\/II\/13\/3\/6.2-1320","metadata":false},{"id":72073,"structure_id":14312,"section_number":"6.2-1321","catch_line":"Certificate of authority","url":"\/6.2-1321\/","token":"6.2\/II\/13\/3\/6.2-1321","metadata":false},{"id":59522,"structure_id":14312,"section_number":"6.2-1322","catch_line":"Contents of bylaws; amendments to bylaws generally","url":"\/6.2-1322\/","token":"6.2\/II\/13\/3\/6.2-1322","metadata":false},{"id":55599,"structure_id":14312,"section_number":"6.2-1323","catch_line":"Amendments to articles of incorporation and bylaws","url":"\/6.2-1323\/","token":"6.2\/II\/13\/3\/6.2-1323","metadata":false},{"id":85476,"structure_id":14312,"section_number":"6.2-1324","catch_line":"Bylaws amended by Commission","url":"\/6.2-1324\/","token":"6.2\/II\/13\/3\/6.2-1324","metadata":false},{"id":70683,"structure_id":14312,"section_number":"6.2-1325","catch_line":"Fiscal year","url":"\/6.2-1325\/","token":"6.2\/II\/13\/3\/6.2-1325","metadata":false},{"id":85105,"structure_id":14312,"section_number":"6.2-1326","catch_line":"Establishing, moving, and closing offices","url":"\/6.2-1326\/","token":"6.2\/II\/13\/3\/6.2-1326","metadata":false}],"previous_section":{"id":72073,"structure_id":14312,"section_number":"6.2-1321","catch_line":"Certificate of authority","url":"\/6.2-1321\/","token":"6.2\/II\/13\/3\/6.2-1321","metadata":false},"next_section":{"id":55599,"structure_id":14312,"section_number":"6.2-1323","catch_line":"Amendments to articles of incorporation and bylaws","url":"\/6.2-1323\/","token":"6.2\/II\/13\/3\/6.2-1323","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1322\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 7 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 1956, chapter 90; in 1966, chapter 584; in 1968, chapter 560; in 1980, chapter 181; in 1983, chapter 300; in 1990, chapter 373; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"id":87273,"section_number":"13.1-842","catch_line":"Notice of meeting","order_by":null,"url":"\/13.1-842\/"},{"id":65762,"section_number":"13.1-907","catch_line":"Distribution and plan of distribution of assets","order_by":null,"url":"\/13.1-907\/"}],"permalink":{"id":264665,"object_type":"law","relational_id":59522,"identifier":"6.2-1322","token":"6.2\/II\/13\/3\/6.2-1322","url":"\/6.2-1322\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1322\/","token":"6.2\/II\/13\/3\/6.2-1322","dublin_core":{"Title":"Contents of bylaws; amendments to bylaws generally","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1322","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The bylaws of a credit union<\/span> shall specify:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The name of the credit union<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The purpose for which it was formed; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The time of the annual meeting of the members<\/span> of the credit union<\/span>, or a provision that the board of directors may set the time for the meeting. Such a meeting shall be held each calendar year. Notice of all meetings shall be given in a manner prescribed in the bylaws, subject to compliance with § 13.1-842<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The number, authority, and the duties of the directors and the authority, duties, and maximum compensation of all officers; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The conditions and qualifications for membership; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The number of members<\/span> of the credit committee, if any, and of the supervisory committee, with their respective authorities and duties; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> The conditions upon which shares<\/span> may be issued, transferred, or withdrawn; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> The conditions upon which loans may be made and repaid; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> The manner of effecting the forfeiture of a member<\/span>’s shares<\/span> when a member<\/span>’s share account<\/span> balance is below the amount established by the bylaws and remains below such amount for a period of two years; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> The manner in which dividends shall be determined and paid out; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> The manner in which remaining assets<\/span> are to be distributed in the event of dissolution after all distributions required by subdivision A 1 of § 13.1-907<\/a> have been made; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> The manner in which bylaws may be amended. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTENTS OF BYLAWS; AMENDMENTS TO BYLAWS GENERALLY (\u00a7 6.2-1322)\n\nThe bylaws of a credit union shall specify:\n\n1. The name of the credit union;\n\n2. The purpose for which it was formed;\n\n3. The time of the annual meeting of the members of the credit union, or a\nprovision that the board of directors may set the time for the meeting. Such a\nmeeting shall be held each calendar year. Notice of all meetings shall be given\nin a manner prescribed in the bylaws, subject to compliance with §\n13.1-842;\n\n4. The number, authority, and the duties of the directors and the authority,\nduties, and maximum compensation of all officers;\n\n5. The conditions and qualifications for membership;\n\n6. The number of members of the credit committee, if any, and of the supervisory\ncommittee, with their respective authorities and duties;\n\n7. The conditions upon which shares may be issued, transferred, or withdrawn;\n\n8. The conditions upon which loans may be made and repaid;\n\n9. The manner of effecting the forfeiture of a member’s shares when a\nmember’s share account balance is below the amount established by the\nbylaws and remains below such amount for a period of two years;\n\n10. The manner in which dividends shall be determined and paid out;\n\n11. The manner in which remaining assets are to be distributed in the event of\ndissolution after all distributions required by subdivision A 1 of §\n13.1-907 have been made; and\n\n12. The manner in which bylaws may be amended.\n\nHISTORY: Code 1950, \u00a7 6-207; 1956, c. 90; 1966, c. 584, \u00a7 6.1-198; 1968, c.\n560; 1980, c. 181; 1983, c. 300; 1990, c. 373, \u00a7 6.1-225.15; 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}}