{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1344.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1344.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1344.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1344.html"}],"law_id":68280,"edition_id":1,"section_id":68280,"structure_id":15790,"section_number":"6.2-1344","catch_line":"Voluntary merger","history":"1980, c. 182, \u00a7 6.1-200.3; 1983, c. 465; 1988, c. 152; 1990, c. 373, \u00a7 6.1-225.27; 1999, c. 63; 2007, c. 925; 2010, c. 794; 2016, cc. 396, 695.","full_text":"A\n\nA credit union organized under this chapter may merge, with the approval of the Commission, with one or more other credit unions, state or federal. In any case in which the surviving credit union will be a Virginia state-chartered credit union, a merger application, accompanied by an application fee of $300, shall be filed with the Commission. The Commission shall approve the application if the Commission finds that:1\n\nThe field of membership of the credit union which is proposed to result from the merger satisfies the requirements of subsection B of § 6.2-1327, unless the merger application is exempt from this condition pursuant to subsection B;2\n\nThe plan of merger will promote the best interests of the members of the credit unions; and3\n\nThe members of the merging credit unions have approved the plan of merger in accordance with applicable laws and regulations. Notwithstanding subsection D of § 13.1-895, the members of a Virginia state-chartered credit union may authorize a plan of merger by vote of at least a majority of all votes cast thereon at an annual or special meeting at which a quorum is present. Notwithstanding the terms of § 13.1-895, in a merger where a Virginia credit union will be the resulting credit union, the adoption of the plan of merger by the board of directors of that credit union shall be sufficient approval of the plan, and approval of the plan of merger by the members of that credit union shall not be required. Notice of the meeting may be given in a manner prescribed in the articles of incorporation or bylaws, notwithstanding the terms of § 13.1-842 relating to the manner of notice. A federal credit union merging with a state credit union may give notice to its members as prescribed by federal regulation.B\n\nThe condition set forth in subdivision A 1 shall not apply to a merger of two Virginia state-chartered credit unions, and notwithstanding subsection B of § 6.2-1327 the field of membership of the surviving credit union may be composed of a combination of the fields of membership of the merging credit unions, if (i) at least one of the merging credit unions has fewer than 35,000 active members on the date the application for merger is filed with the Commission and (ii) neither of the merging credit unions has been a party to a merger pursuant to this subsection within the 24 months preceding the date the application for merger is filed with the Commission.C\n\nIf the Commission finds that the applicable requirements of subsection A have been met and all required fees have been paid, it shall approve the merger and issue a certificate of merger, which shall be admitted to record in its office and in the office for the recording of deeds in the city or county in which the registered office of each credit union is located. No such further recordation shall be required in the City of Richmond or the Counties of Chesterfield or Henrico.D\n\nUpon the issuance of the certificate of merger the provisions of § 13.1-897, mutatis mutandis, shall become effective.E\n\nFor the purposes of this section, a member entitled to vote may vote in person or, unless the articles of incorporation or bylaws otherwise provide, by proxy. A member may appoint a proxy to vote or otherwise act for him by signing an appointment form. An appointment of a proxy becomes effective when received by the secretary or other officer or agent authorized to tabulate votes. An appointment is valid for 11 months unless a different period is expressly provided in the appointment form or the appointment is revoked by the member.","order_by":null,"text":{"0":{"id":247028,"text":"A credit union organized under this chapter may merge, with the approval of the Commission, with one or more other credit unions, state or federal. In any case in which the surviving credit union will be a Virginia state-chartered credit union, a merger application, accompanied by an application fee of $300, shall be filed with the Commission. The Commission shall approve the application if the Commission finds that:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":247029,"text":"The field of membership of the credit union which is proposed to result from the merger satisfies the requirements of subsection B of § 6.2-1327, unless the merger application is exempt from this condition pursuant to subsection B;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":247030,"text":"The plan of merger will promote the best interests of the members of the credit unions; and","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":247031,"text":"The members of the merging credit unions have approved the plan of merger in accordance with applicable laws and regulations. Notwithstanding subsection D of § 13.1-895, the members of a Virginia state-chartered credit union may authorize a plan of merger by vote of at least a majority of all votes cast thereon at an annual or special meeting at which a quorum is present. Notwithstanding the terms of § 13.1-895, in a merger where a Virginia credit union will be the resulting credit union, the adoption of the plan of merger by the board of directors of that credit union shall be sufficient approval of the plan, and approval of the plan of merger by the members of that credit union shall not be required. Notice of the meeting may be given in a manner prescribed in the articles of incorporation or bylaws, notwithstanding the terms of § 13.1-842 relating to the manner of notice. A federal credit union merging with a state credit union may give notice to its members as prescribed by federal regulation.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"B"},"4":{"id":247032,"text":"The condition set forth in subdivision A 1 shall not apply to a merger of two Virginia state-chartered credit unions, and notwithstanding subsection B of § 6.2-1327 the field of membership of the surviving credit union may be composed of a combination of the fields of membership of the merging credit unions, if (i) at least one of the merging credit unions has fewer than 35,000 active members on the date the application for merger is filed with the Commission and (ii) neither of the merging credit unions has been a party to a merger pursuant to this subsection within the 24 months preceding the date the application for merger is filed with the Commission.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A3","next_prefix":"C"},"5":{"id":247033,"text":"If the Commission finds that the applicable requirements of subsection A have been met and all required fees have been paid, it shall approve the merger and issue a certificate of merger, which shall be admitted to record in its office and in the office for the recording of deeds in the city or county in which the registered office of each credit union is located. No such further recordation shall be required in the City of Richmond or the Counties of Chesterfield or Henrico.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"6":{"id":247034,"text":"Upon the issuance of the certificate of merger the provisions of § 13.1-897, mutatis mutandis, shall become effective.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"7":{"id":247035,"text":"For the purposes of this section, a member entitled to vote may vote in person or, unless the articles of incorporation or bylaws otherwise provide, by proxy. A member may appoint a proxy to vote or otherwise act for him by signing an appointment form. An appointment of a proxy becomes effective when received by the secretary or other officer or agent authorized to tabulate votes. An appointment is valid for 11 months unless a different period is expressly provided in the appointment form or the appointment is revoked by the member.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D"}},"ancestry":[{"id":15790,"edition_id":1,"name":"Change in Corporate Status","identifier":"6","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:59:37","date_modified":"2026-06-26 03:59:37","permalink":{"id":264757,"object_type":"structure","relational_id":15790,"identifier":"6","token":"6.2\/II\/13\/6","url":"\/6.2\/II\/13\/6\/","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":68280,"structure_id":15790,"section_number":"6.2-1344","catch_line":"Voluntary merger","url":"\/6.2-1344\/","token":"6.2\/II\/13\/6\/6.2-1344","metadata":false},{"id":70909,"structure_id":15790,"section_number":"6.2-1345","catch_line":"Voluntary dissolution","url":"\/6.2-1345\/","token":"6.2\/II\/13\/6\/6.2-1345","metadata":false},{"id":77822,"structure_id":15790,"section_number":"6.2-1346","catch_line":"Conversion of federal credit union to state credit union","url":"\/6.2-1346\/","token":"6.2\/II\/13\/6\/6.2-1346","metadata":false},{"id":60854,"structure_id":15790,"section_number":"6.2-1347","catch_line":"Conversion of state credit union to federal credit union","url":"\/6.2-1347\/","token":"6.2\/II\/13\/6\/6.2-1347","metadata":false},{"id":79438,"structure_id":15790,"section_number":"6.2-1347.1","catch_line":"Conversion to a state mutual savings institution","url":"\/6.2-1347.1\/","token":"6.2\/II\/13\/6\/6.2-1347.1","metadata":false}],"next_section":{"id":70909,"structure_id":15790,"section_number":"6.2-1345","catch_line":"Voluntary dissolution","url":"\/6.2-1345\/","token":"6.2\/II\/13\/6\/6.2-1345","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1344\/","history_text":"

This law was first created in 1980. The record of its establishment is cataloged in chapter 182 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 1980 \u201cActs\u201d aren\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 1983, chapter 465; in 1988, chapter 152; in 1990, chapter 373; in 1999, chapter 63<\/a>; in 2007, chapter 925<\/a>; in 2010, chapter 794<\/a>; in 2016, chapters 396<\/a> and 695<\/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":82018,"section_number":"13.1-895","catch_line":"Action on plan of merger","order_by":null,"url":"\/13.1-895\/"},{"id":71876,"section_number":"13.1-897","catch_line":"Effect of merger","order_by":null,"url":"\/13.1-897\/"},{"id":59413,"section_number":"6.2-1327","catch_line":"Membership defined; field of membership","order_by":null,"url":"\/6.2-1327\/"}],"permalink":{"id":264759,"object_type":"law","relational_id":68280,"identifier":"6.2-1344","token":"6.2\/II\/13\/6\/6.2-1344","url":"\/6.2-1344\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1344\/","token":"6.2\/II\/13\/6\/6.2-1344","dublin_core":{"Title":"Voluntary merger","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1344","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A credit union<\/span> organized under this chapter may merge, with the approval of the Commission<\/span>, with one or more other credit unions<\/span>, state or federal. In any case in which the surviving credit union<\/span> will be a Virginia state-chartered credit union<\/span>, a merger application, accompanied by an application fee of $300, shall be filed with the Commission<\/span>. The Commission<\/span> shall approve the application if the Commission<\/span> finds that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The field of membership of the credit union<\/span> which is proposed to result from the merger satisfies the requirements of subsection B of § 6.2-1327<\/a>, unless the merger application is exempt from this condition pursuant to subsection B; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The plan of merger will promote the best interests of the members<\/span> of the credit unions<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The members<\/span> of the merging credit unions<\/span> have approved the plan of merger in accordance with applicable laws<\/span> and regulations. Notwithstanding subsection D of § 13.1-895<\/a>, the members<\/span> of a Virginia state-chartered credit union<\/span> may authorize a plan of merger by vote of at least a majority of all votes cast thereon at an annual or special meeting at which a quorum is present. Notwithstanding the terms of § 13.1-895<\/a>, in a merger where a Virginia credit union<\/span> will be the resulting credit union<\/span>, the adoption of the plan of merger by the board of directors of that credit union<\/span> shall be sufficient approval of the plan, and approval of the plan of merger by the members<\/span> of that credit union<\/span> shall not be required. Notice of the meeting may be given in a manner prescribed in the articles of incorporation or bylaws, notwithstanding the terms of § 13.1-842<\/a> relating to the manner of notice. A federal credit union<\/span> merging with a state credit union<\/span> may give notice to its members<\/span> as prescribed by federal regulation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The condition set forth in subdivision A 1 shall not apply to a merger of two Virginia state-chartered credit unions<\/span>, and notwithstanding subsection B of § 6.2-1327<\/a> the field of membership of the surviving credit union<\/span> may be composed of a combination of the fields of membership of the merging credit unions<\/span>, if (i) at least one of the merging credit unions<\/span> has fewer than 35,000 active members<\/span> on the date the application for merger is filed with the Commission<\/span> and (ii) neither of the merging credit unions<\/span> has been a party<\/span> to a merger pursuant to this subsection within the 24 months preceding the date the application for merger is filed with the Commission<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If the Commission<\/span> finds that the applicable requirements of subsection A have been met and all required fees have been paid, it shall approve the merger and issue<\/span> a certificate of merger, which shall be admitted to record in its office and in the office for the recording of deeds in the city or county in which the registered office of each credit union<\/span> is located. No such further recordation shall be required in the City of Richmond or the Counties of Chesterfield or Henrico. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Upon the issuance of the certificate of merger the provisions of § 13.1-897<\/a>, mutatis mutandis<\/span>, shall become effective. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> For the purposes of this section, a member<\/span> entitled to vote may vote in person<\/span> or, unless the articles of incorporation or bylaws otherwise provide, by proxy. A member<\/span> may appoint a proxy to vote or otherwise act for him by signing an appointment form. An appointment of a proxy becomes effective when received by the secretary or other officer or agent authorized to tabulate votes. An appointment is valid for 11 months unless a different period is expressly provided in the appointment form or the appointment is revoked by the member<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVOLUNTARY MERGER (\u00a7 6.2-1344)\n\nA. A credit union organized under this chapter may merge, with the approval of\nthe Commission, with one or more other credit unions, state or federal. In any\ncase in which the surviving credit union will be a Virginia state-chartered\ncredit union, a merger application, accompanied by an application fee of $300,\nshall be filed with the Commission. The Commission shall approve the application\nif the Commission finds that:\n\n 1. The field of membership of the credit union which is proposed to result\n from the merger satisfies the requirements of subsection B of § 6.2-1327,\n unless the merger application is exempt from this condition pursuant to\n subsection B;\n\n 2. The plan of merger will promote the best interests of the members of the\n credit unions; and\n\n 3. The members of the merging credit unions have approved the plan of merger\n in accordance with applicable laws and regulations. Notwithstanding subsection\n D of § 13.1-895, the members of a Virginia state-chartered credit union\n may authorize a plan of merger by vote of at least a majority of all votes\n cast thereon at an annual or special meeting at which a quorum is present.\n Notwithstanding the terms of § 13.1-895, in a merger where a Virginia\n credit union will be the resulting credit union, the adoption of the plan of\n merger by the board of directors of that credit union shall be sufficient\n approval of the plan, and approval of the plan of merger by the members of\n that credit union shall not be required. Notice of the meeting may be given in\n a manner prescribed in the articles of incorporation or bylaws,\n notwithstanding the terms of § 13.1-842 relating to the manner of notice.\n A federal credit union merging with a state credit union may give notice to\n its members as prescribed by federal regulation.\n\nB. The condition set forth in subdivision A 1 shall not apply to a merger of two\nVirginia state-chartered credit unions, and notwithstanding subsection B of\n§ 6.2-1327 the field of membership of the surviving credit union may be\ncomposed of a combination of the fields of membership of the merging credit\nunions, if (i) at least one of the merging credit unions has fewer than 35,000\nactive members on the date the application for merger is filed with the\nCommission and (ii) neither of the merging credit unions has been a party to a\nmerger pursuant to this subsection within the 24 months preceding the date the\napplication for merger is filed with the Commission.\n\nC. If the Commission finds that the applicable requirements of subsection A have\nbeen met and all required fees have been paid, it shall approve the merger and\nissue a certificate of merger, which shall be admitted to record in its office\nand in the office for the recording of deeds in the city or county in which the\nregistered office of each credit union is located. No such further recordation\nshall be required in the City of Richmond or the Counties of Chesterfield or\nHenrico.\n\nD. Upon the issuance of the certificate of merger the provisions of §\n13.1-897, mutatis mutandis, shall become effective.\n\nE. For the purposes of this section, a member entitled to vote may vote in\nperson or, unless the articles of incorporation or bylaws otherwise provide, by\nproxy. A member may appoint a proxy to vote or otherwise act for him by signing\nan appointment form. An appointment of a proxy becomes effective when received\nby the secretary or other officer or agent authorized to tabulate votes. An\nappointment is valid for 11 months unless a different period is expressly\nprovided in the appointment form or the appointment is revoked by the member.\n\nHISTORY: 1980, c. 182, \u00a7 6.1-200.3; 1983, c. 465; 1988, c. 152; 1990, c. 373,\n\u00a7 6.1-225.27; 1999, c. 63; 2007, c. 925; 2010, c. 794; 2016, cc. 396, 695.","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}}