{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1352.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1352.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1352.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1352.html"}],"law_id":67236,"edition_id":1,"section_id":67236,"structure_id":15648,"section_number":"6.2-1352","catch_line":"Compensation of officials","history":"Code 1950, \u00a7 6-220; 1964, c. 75; 1966, c. 584, \u00a7 6.1-211; 1968, c. 560; 1982, c. 572; 1983, c. 158; 1984, c. 354; 1988, c. 275; 1990, c. 373, \u00a7 6.1-225.35; 1995, c. 325; 2010, c. 794; 2020, cc. 262, 547.","full_text":"A\n\nCompensation of members of the board of directors and members of the credit and supervisory committees shall be determined by a written policy approved by the board of directors, provided that annual compensation for an individual member does not exceed $6,000.B\n\nHealth, accident, and term life insurance protection for a director or committee member shall not be considered compensation.C\n\nDirectors and committee members, while on official business of the credit union, may be reimbursed for expenses consistent with Internal Revenue Service guidelines.","order_by":null,"text":{"0":{"id":243701,"text":"Compensation of members of the board of directors and members of the credit and supervisory committees shall be determined by a written policy approved by the board of directors, provided that annual compensation for an individual member does not exceed $6,000.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":243702,"text":"Health, accident, and term life insurance protection for a director or committee member shall not be considered compensation.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":243703,"text":"Directors and committee members, while on official business of the credit union, may be reimbursed for expenses consistent with Internal Revenue Service guidelines.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":15648,"edition_id":1,"name":"Direction of Affairs","identifier":"7","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:57:21","date_modified":"2026-06-26 03:57:21","permalink":{"id":264779,"object_type":"structure","relational_id":15648,"identifier":"7","token":"6.2\/II\/13\/7","url":"\/6.2\/II\/13\/7\/","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":60311,"structure_id":15648,"section_number":"6.2-1348","catch_line":"Board of directors; number; election; term; appointment of supervisory and credit committees","url":"\/6.2-1348\/","token":"6.2\/II\/13\/7\/6.2-1348","metadata":false},{"id":70635,"structure_id":15648,"section_number":"6.2-1349","catch_line":"Board of directors; election of officers","url":"\/6.2-1349\/","token":"6.2\/II\/13\/7\/6.2-1349","metadata":false},{"id":87127,"structure_id":15648,"section_number":"6.2-1350","catch_line":"Executive committee","url":"\/6.2-1350\/","token":"6.2\/II\/13\/7\/6.2-1350","metadata":false},{"id":59807,"structure_id":15648,"section_number":"6.2-1351","catch_line":"Meetings of directors","url":"\/6.2-1351\/","token":"6.2\/II\/13\/7\/6.2-1351","metadata":false},{"id":67236,"structure_id":15648,"section_number":"6.2-1352","catch_line":"Compensation of officials","url":"\/6.2-1352\/","token":"6.2\/II\/13\/7\/6.2-1352","metadata":false},{"id":64794,"structure_id":15648,"section_number":"6.2-1353","catch_line":"Powers and duties of directors","url":"\/6.2-1353\/","token":"6.2\/II\/13\/7\/6.2-1353","metadata":false},{"id":60059,"structure_id":15648,"section_number":"6.2-1354","catch_line":"Credit committee or loan officers; appeal","url":"\/6.2-1354\/","token":"6.2\/II\/13\/7\/6.2-1354","metadata":false},{"id":76057,"structure_id":15648,"section_number":"6.2-1355","catch_line":"Supervisory committee; suspension and removal of officials","url":"\/6.2-1355\/","token":"6.2\/II\/13\/7\/6.2-1355","metadata":false},{"id":82509,"structure_id":15648,"section_number":"6.2-1356","catch_line":"Special audit","url":"\/6.2-1356\/","token":"6.2\/II\/13\/7\/6.2-1356","metadata":false},{"id":75284,"structure_id":15648,"section_number":"6.2-1357","catch_line":"Qualifications of officials","url":"\/6.2-1357\/","token":"6.2\/II\/13\/7\/6.2-1357","metadata":false}],"previous_section":{"id":59807,"structure_id":15648,"section_number":"6.2-1351","catch_line":"Meetings of directors","url":"\/6.2-1351\/","token":"6.2\/II\/13\/7\/6.2-1351","metadata":false},"next_section":{"id":64794,"structure_id":15648,"section_number":"6.2-1353","catch_line":"Powers and duties of directors","url":"\/6.2-1353\/","token":"6.2\/II\/13\/7\/6.2-1353","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1352\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 11 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 1964, chapter 75; in 1966, chapter 584; in 1968, chapter 560; in 1982, chapter 572; in 1983, chapter 158; in 1984, chapter 354; in 1988, chapter 275; in 1990, chapter 373; in 1995, chapter 325<\/a>; in 2010, chapter 794<\/a>; in 2020, chapters 262<\/a> and 547<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264797,"object_type":"law","relational_id":67236,"identifier":"6.2-1352","token":"6.2\/II\/13\/7\/6.2-1352","url":"\/6.2-1352\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1352\/","token":"6.2\/II\/13\/7\/6.2-1352","dublin_core":{"Title":"Compensation of officials","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1352","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Compensation of members<\/span> of the board of directors and members<\/span> of the credit and supervisory committees shall be determined by a written policy approved by the board of directors, provided that annual compensation for an individual member<\/span> does not exceed $6,000. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Health, accident, and term life insurance protection for a director or committee member<\/span> shall not be considered compensation. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Directors and committee members<\/span>, while on official business of the credit union<\/span>, may be reimbursed for expenses consistent with Internal Revenue Service guidelines. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCOMPENSATION OF OFFICIALS (\u00a7 6.2-1352)\n\nA. Compensation of members of the board of directors and members of the credit\nand supervisory committees shall be determined by a written policy approved by\nthe board of directors, provided that annual compensation for an individual\nmember does not exceed $6,000.\n\nB. Health, accident, and term life insurance protection for a director or\ncommittee member shall not be considered compensation.\n\nC. Directors and committee members, while on official business of the credit\nunion, may be reimbursed for expenses consistent with Internal Revenue Service\nguidelines.\n\nHISTORY: Code 1950, \u00a7 6-220; 1964, c. 75; 1966, c. 584, \u00a7 6.1-211; 1968, c.\n560; 1982, c. 572; 1983, c. 158; 1984, c. 354; 1988, c. 275; 1990, c. 373, \u00a7\n6.1-225.35; 1995, c. 325; 2010, c. 794; 2020, cc. 262, 547.","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}}