{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1340.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1340.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1340.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1340.html"}],"law_id":80717,"edition_id":1,"section_id":80717,"structure_id":15615,"section_number":"6.2-1340","catch_line":"Supervision, reports and examinations by Commission","history":"1974, c. 587, \u00a7 6.1-226.10; 2010, c. 794.","full_text":"A\n\nThe corporation shall be subject to supervision and annual examination by the Commission. The cost of each examination shall be paid by the corporation. The corporation shall file annually by such time and in such form as the Commission prescribes a statement showing its financial condition on December 31 of the previous year.B\n\nIn addition to the annual statement, the Commission from time to time may require the corporation to file such further reports, exhibits or statements as it deems necessary to furnish full information concerning the condition, solvency, transactions and affairs of the corporation. The Commission shall prescribe the time within which such additional reports, exhibits or statements shall be filed and may require verification by such officers of the corporation as it may designate.C\n\nWhenever the Commission deems it expedient to do so, it may make or direct to be made additional examinations of the affairs of the corporation, the cost of which shall be paid by the corporation. Upon completion of an examination, a copy of the report thereof shall be furnished to the corporation.","order_by":null,"text":{"0":{"id":289350,"text":"The corporation shall be subject to supervision and annual examination by the Commission. The cost of each examination shall be paid by the corporation. The corporation shall file annually by such time and in such form as the Commission prescribes a statement showing its financial condition on December 31 of the previous year.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":289351,"text":"In addition to the annual statement, the Commission from time to time may require the corporation to file such further reports, exhibits or statements as it deems necessary to furnish full information concerning the condition, solvency, transactions and affairs of the corporation. The Commission shall prescribe the time within which such additional reports, exhibits or statements shall be filed and may require verification by such officers of the corporation as it may designate.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":289352,"text":"Whenever the Commission deems it expedient to do so, it may make or direct to be made additional examinations of the affairs of the corporation, the cost of which shall be paid by the corporation. Upon completion of an examination, a copy of the report thereof shall be furnished to the corporation.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1340\/","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 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":264741,"object_type":"law","relational_id":80717,"identifier":"6.2-1340","token":"6.2\/II\/13\/5\/6.2-1340","url":"\/6.2-1340\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1340\/","token":"6.2\/II\/13\/5\/6.2-1340","dublin_core":{"Title":"Supervision, reports and examinations by Commission","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1340","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The corporation<\/span> shall be subject to supervision and annual examination by the Commission<\/span>. The cost of each examination shall be paid by the corporation<\/span>. The corporation<\/span> shall file annually by such time and in such form as the Commission<\/span> prescribes a statement showing its financial condition on December 31 of the previous year. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> In addition to the annual statement, the Commission<\/span> from time to time may require the corporation<\/span> to file such further reports, exhibits or statements as it deems necessary to furnish full information concerning the condition, solvency, transactions and affairs of the corporation<\/span>. The Commission<\/span> shall prescribe the time within which such additional reports, exhibits or statements shall be filed and may require verification by such officers of the corporation<\/span> as it may designate. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Whenever the Commission<\/span> deems it expedient to do so, it may make or direct to be made additional examinations of the affairs of the corporation<\/span>, the cost of which shall be paid by the corporation<\/span>. Upon completion of an examination, a copy of the report thereof shall be furnished to the corporation<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSUPERVISION, REPORTS AND EXAMINATIONS BY COMMISSION (\u00a7 6.2-1340)\n\nA. The corporation shall be subject to supervision and annual examination by the\nCommission. The cost of each examination shall be paid by the corporation. The\ncorporation shall file annually by such time and in such form as the Commission\nprescribes a statement showing its financial condition on December 31 of the\nprevious year.\n\nB. In addition to the annual statement, the Commission from time to time may\nrequire the corporation to file such further reports, exhibits or statements as\nit deems necessary to furnish full information concerning the condition,\nsolvency, transactions and affairs of the corporation. The Commission shall\nprescribe the time within which such additional reports, exhibits or statements\nshall be filed and may require verification by such officers of the corporation\nas it may designate.\n\nC. Whenever the Commission deems it expedient to do so, it may make or direct to\nbe made additional examinations of the affairs of the corporation, the cost of\nwhich shall be paid by the corporation. Upon completion of an examination, a\ncopy of the report thereof shall be furnished to the corporation.\n\nHISTORY: 1974, c. 587, \u00a7 6.1-226.10; 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}}