{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1334.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1334.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1334.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1334.html"}],"law_id":68878,"edition_id":1,"section_id":68878,"structure_id":15615,"section_number":"6.2-1334","catch_line":"Contents of corporation bylaws; amendments thereto","history":"1974, c. 587, \u00a7 6.1-226.4; 1985, c. 365; 2010, c. 794.","full_text":"A\n\nThe bylaws of a corporation shall specify:1\n\nThe requirements for membership including contributions to loss reserve, and for the revocation of membership;2\n\nThe date of the annual meeting;3\n\nThe number of directors, which shall not be less than five;4\n\nThe conditions upon which loans to member credit unions may be made;5\n\nThe manner in which remaining assets are to be distributed in the event of dissolution after all distributions required by subdivisions A 1 through A 3 of § 13.1-907 of the Virginia Nonstock Corporation Act have been made;6\n\nThe manner and terms upon which reinsurance of shares may be obtained; and7\n\nThe conditions upon which contributions to loss reserve may be refunded when membership is terminated.B\n\nBylaws filed with and approved by the Commission shall be the bylaws of the corporation, and no amendments thereto by the corporation shall be operative unless they conform to the provisions of this article and are approved by the Commission.C\n\nBylaws may be amended by the Commission by an order entered on its order book and certified to the corporation. Before any such order is entered, the Commission shall notify the corporation of the proposed amendment and afford it an opportunity to be heard thereon.","order_by":null,"text":{"0":{"id":249319,"text":"The bylaws of a corporation shall specify:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":249320,"text":"The requirements for membership including contributions to loss reserve, and for the revocation of membership;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":249321,"text":"The date of the annual meeting;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":249322,"text":"The number of directors, which shall not be less than five;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":249323,"text":"The conditions upon which loans to member credit unions may be made;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":249324,"text":"The manner in which remaining assets are to be distributed in the event of dissolution after all distributions required by subdivisions A 1 through A 3 of § 13.1-907 of the Virginia Nonstock Corporation Act have been made;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":249325,"text":"The manner and terms upon which reinsurance of shares may be obtained; and","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":249326,"text":"The conditions upon which contributions to loss reserve may be refunded when membership is terminated.","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"B"},"8":{"id":249327,"text":"Bylaws filed with and approved by the Commission shall be the bylaws of the corporation, and no amendments thereto by the corporation shall be operative unless they conform to the provisions of this article and are approved by the Commission.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A7","next_prefix":"C"},"9":{"id":249328,"text":"Bylaws may be amended by the Commission by an order entered on its order book and certified to the corporation. Before any such order is entered, the Commission shall notify the corporation of the proposed amendment and afford it an opportunity to be heard thereon.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":15615,"edition_id":1,"name":"Share Insurance","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:56:56","date_modified":"2026-06-26 03:56:56","permalink":{"id":264703,"object_type":"structure","relational_id":15615,"identifier":"5","token":"6.2\/II\/13\/5","url":"\/6.2\/II\/13\/5\/","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":67088,"structure_id":15615,"section_number":"6.2-1331","catch_line":"Definitions","url":"\/6.2-1331\/","token":"6.2\/II\/13\/5\/6.2-1331","metadata":false},{"id":85703,"structure_id":15615,"section_number":"6.2-1332","catch_line":"Insurance of shares","url":"\/6.2-1332\/","token":"6.2\/II\/13\/5\/6.2-1332","metadata":false},{"id":59623,"structure_id":15615,"section_number":"6.2-1333","catch_line":"Establishment of corporation; purposes","url":"\/6.2-1333\/","token":"6.2\/II\/13\/5\/6.2-1333","metadata":false},{"id":68878,"structure_id":15615,"section_number":"6.2-1334","catch_line":"Contents of corporation bylaws; amendments thereto","url":"\/6.2-1334\/","token":"6.2\/II\/13\/5\/6.2-1334","metadata":false},{"id":74436,"structure_id":15615,"section_number":"6.2-1335","catch_line":"Application for membership; share insurance required","url":"\/6.2-1335\/","token":"6.2\/II\/13\/5\/6.2-1335","metadata":false},{"id":76486,"structure_id":15615,"section_number":"6.2-1336","catch_line":"Loss reserve contributions","url":"\/6.2-1336\/","token":"6.2\/II\/13\/5\/6.2-1336","metadata":false},{"id":85618,"structure_id":15615,"section_number":"6.2-1337","catch_line":"Annual and special assessments","url":"\/6.2-1337\/","token":"6.2\/II\/13\/5\/6.2-1337","metadata":false},{"id":74967,"structure_id":15615,"section_number":"6.2-1338","catch_line":"Duties and additional powers of corporation","url":"\/6.2-1338\/","token":"6.2\/II\/13\/5\/6.2-1338","metadata":false},{"id":73060,"structure_id":15615,"section_number":"6.2-1339","catch_line":"Duties and powers of Commission; judicial review","url":"\/6.2-1339\/","token":"6.2\/II\/13\/5\/6.2-1339","metadata":false},{"id":80717,"structure_id":15615,"section_number":"6.2-1340","catch_line":"Supervision, reports and examinations by Commission","url":"\/6.2-1340\/","token":"6.2\/II\/13\/5\/6.2-1340","metadata":false},{"id":69601,"structure_id":15615,"section_number":"6.2-1341","catch_line":"Audit by corporation and corrective measures; appeal","url":"\/6.2-1341\/","token":"6.2\/II\/13\/5\/6.2-1341","metadata":false},{"id":84058,"structure_id":15615,"section_number":"6.2-1342","catch_line":"Tax exemptions","url":"\/6.2-1342\/","token":"6.2\/II\/13\/5\/6.2-1342","metadata":false},{"id":70986,"structure_id":15615,"section_number":"6.2-1343","catch_line":"Inconsistent laws inapplicable","url":"\/6.2-1343\/","token":"6.2\/II\/13\/5\/6.2-1343","metadata":false}],"previous_section":{"id":59623,"structure_id":15615,"section_number":"6.2-1333","catch_line":"Establishment of corporation; purposes","url":"\/6.2-1333\/","token":"6.2\/II\/13\/5\/6.2-1333","metadata":false},"next_section":{"id":74436,"structure_id":15615,"section_number":"6.2-1335","catch_line":"Application for membership; share insurance required","url":"\/6.2-1335\/","token":"6.2\/II\/13\/5\/6.2-1335","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1334\/","history_text":"

This law was first created in 1974. The record of its establishment is cataloged in chapter 587 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 1974 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 1985, chapter 365; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"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":264717,"object_type":"law","relational_id":68878,"identifier":"6.2-1334","token":"6.2\/II\/13\/5\/6.2-1334","url":"\/6.2-1334\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1334\/","token":"6.2\/II\/13\/5\/6.2-1334","dublin_core":{"Title":"Contents of corporation bylaws; amendments thereto","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1334","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The bylaws of a corporation<\/span> shall specify: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The requirements for membership including contributions to loss reserve, and for the revocation<\/span> of membership; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The date of the annual meeting; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The number of directors, which shall not be less than five; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The conditions upon which loans to member credit unions<\/span> may be made; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The manner in which remaining assets<\/span> are to be distributed in the event of dissolution after all distributions required by subdivisions A 1 through A 3 of § 13.1-907<\/a> of the Virginia Nonstock Corporation<\/span> Act have been made; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The manner and terms upon which reinsurance of shares<\/span> may be obtained; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> The conditions upon which contributions to loss reserve may be refunded when membership is terminated. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Bylaws filed with and approved by the Commission<\/span> shall be the bylaws of the corporation<\/span>, and no amendments thereto by the corporation<\/span> shall be operative unless they conform to the provisions of this article and are approved by the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Bylaws may be amended by the Commission<\/span> by an order<\/span> entered on its order<\/span> book and certified to the corporation<\/span>. Before any such order<\/span> is entered, the Commission<\/span> shall notify the corporation<\/span> of the proposed amendment and afford it an opportunity to be heard thereon. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTENTS OF CORPORATION BYLAWS; AMENDMENTS THERETO (\u00a7 6.2-1334)\n\nA. The bylaws of a corporation shall specify:\n\n 1. The requirements for membership including contributions to loss reserve,\n and for the revocation of membership;\n\n 2. The date of the annual meeting;\n\n 3. The number of directors, which shall not be less than five;\n\n 4. The conditions upon which loans to member credit unions may be made;\n\n 5. The manner in which remaining assets are to be distributed in the event of\n dissolution after all distributions required by subdivisions A 1 through A 3\n of § 13.1-907 of the Virginia Nonstock Corporation Act have been made;\n\n 6. The manner and terms upon which reinsurance of shares may be obtained; and\n\n 7. The conditions upon which contributions to loss reserve may be refunded\n when membership is terminated.\n\nB. Bylaws filed with and approved by the Commission shall be the bylaws of the\ncorporation, and no amendments thereto by the corporation shall be operative\nunless they conform to the provisions of this article and are approved by the\nCommission.\n\nC. Bylaws may be amended by the Commission by an order entered on its order book\nand certified to the corporation. Before any such order is entered, the\nCommission shall notify the corporation of the proposed amendment and afford it\nan opportunity to be heard thereon.\n\nHISTORY: 1974, c. 587, \u00a7 6.1-226.4; 1985, c. 365; 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}}