{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1359.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1359.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1359.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1359.html"}],"law_id":56262,"edition_id":1,"section_id":56262,"structure_id":13647,"section_number":"6.2-1359","catch_line":"Payment for shares; transfers; lien on shares","history":"Code 1950, \u00a7 6-214; 1956, c. 90; 1966, c. 584, \u00a7 6.1-206; 1968, c. 560; 1975, c. 33; 1990, c. 373, \u00a7 6.1-225.42; 2010, c. 794.","full_text":"Shares shall be paid for in money. Shares may be subscribed to, paid for, and transferred in such manner as the bylaws prescribe. The credit union shall have a lien on the shares, including share accounts of a member in his individual, joint, or trust accounts and upon any dividends payable thereon as security for all debts and obligations owed by, and for any loan endorsed by, such member to the credit union.","order_by":null,"text":{"0":{"id":206056,"text":"Shares shall be paid for in money. Shares may be subscribed to, paid for, and transferred in such manner as the bylaws prescribe. The credit union shall have a lien on the shares, including share accounts of a member in his individual, joint, or trust accounts and upon any dividends payable thereon as security for all debts and obligations owed by, and for any loan endorsed by, such member to the credit union.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13647,"edition_id":1,"name":"Accounts","identifier":"8","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:45:28","date_modified":"2026-06-26 03:45:28","permalink":{"id":264821,"object_type":"structure","relational_id":13647,"identifier":"8","token":"6.2\/II\/13\/8","url":"\/6.2\/II\/13\/8\/","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":54619,"structure_id":13647,"section_number":"6.2-1358","catch_line":"Share accounts","url":"\/6.2-1358\/","token":"6.2\/II\/13\/8\/6.2-1358","metadata":false},{"id":56262,"structure_id":13647,"section_number":"6.2-1359","catch_line":"Payment for shares; transfers; lien on shares","url":"\/6.2-1359\/","token":"6.2\/II\/13\/8\/6.2-1359","metadata":false},{"id":66098,"structure_id":13647,"section_number":"6.2-1360","catch_line":"Dividends","url":"\/6.2-1360\/","token":"6.2\/II\/13\/8\/6.2-1360","metadata":false},{"id":76027,"structure_id":13647,"section_number":"6.2-1361","catch_line":"Ascertaining value of assets","url":"\/6.2-1361\/","token":"6.2\/II\/13\/8\/6.2-1361","metadata":false},{"id":77351,"structure_id":13647,"section_number":"6.2-1362","catch_line":"Minors' accounts","url":"\/6.2-1362\/","token":"6.2\/II\/13\/8\/6.2-1362","metadata":false},{"id":78357,"structure_id":13647,"section_number":"6.2-1363","catch_line":"Individual retirement accounts and retirement or pension plans","url":"\/6.2-1363\/","token":"6.2\/II\/13\/8\/6.2-1363","metadata":false},{"id":78569,"structure_id":13647,"section_number":"6.2-1364","catch_line":"Acceptance of money under Virginia Uniform Transfers to Minors Act","url":"\/6.2-1364\/","token":"6.2\/II\/13\/8\/6.2-1364","metadata":false},{"id":74989,"structure_id":13647,"section_number":"6.2-1365","catch_line":"Accounts of deceased or incapacitated person","url":"\/6.2-1365\/","token":"6.2\/II\/13\/8\/6.2-1365","metadata":false},{"id":73218,"structure_id":13647,"section_number":"6.2-1366","catch_line":"Repealed","url":"\/6.2-1366\/","token":"6.2\/II\/13\/8\/6.2-1366","metadata":false},{"id":64186,"structure_id":13647,"section_number":"6.2-1367","catch_line":"Application of provisions to federal credit unions","url":"\/6.2-1367\/","token":"6.2\/II\/13\/8\/6.2-1367","metadata":false},{"id":71854,"structure_id":13647,"section_number":"6.2-1368","catch_line":"Accounts of fiduciaries","url":"\/6.2-1368\/","token":"6.2\/II\/13\/8\/6.2-1368","metadata":false},{"id":80853,"structure_id":13647,"section_number":"6.2-1369","catch_line":"Credit union need not inquire as to fiduciary funds used to purchase shares in fiduciary's personal account","url":"\/6.2-1369\/","token":"6.2\/II\/13\/8\/6.2-1369","metadata":false}],"previous_section":{"id":54619,"structure_id":13647,"section_number":"6.2-1358","catch_line":"Share accounts","url":"\/6.2-1358\/","token":"6.2\/II\/13\/8\/6.2-1358","metadata":false},"next_section":{"id":66098,"structure_id":13647,"section_number":"6.2-1360","catch_line":"Dividends","url":"\/6.2-1360\/","token":"6.2\/II\/13\/8\/6.2-1360","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1359\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 6 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 1975, chapter 33; in 1990, chapter 373; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264827,"object_type":"law","relational_id":56262,"identifier":"6.2-1359","token":"6.2\/II\/13\/8\/6.2-1359","url":"\/6.2-1359\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1359\/","token":"6.2\/II\/13\/8\/6.2-1359","dublin_core":{"Title":"Payment for shares; transfers; lien on shares","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1359","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Shares<\/span> shall be paid for in money. Shares<\/span> may be subscribed to, paid for, and transferred in such manner as the bylaws prescribe. The credit union<\/span> shall have a lien<\/span> on the shares<\/span>, including share accounts<\/span> of a member<\/span> in his individual, joint, or trust accounts and upon any dividends payable thereon as security for all debts and obligations owed by, and for any loan endorsed by, such member<\/span> to the credit union<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPAYMENT FOR SHARES; TRANSFERS; LIEN ON SHARES (\u00a7 6.2-1359)\n\nShares shall be paid for in money. Shares may be subscribed to, paid for, and\ntransferred in such manner as the bylaws prescribe. The credit union shall have\na lien on the shares, including share accounts of a member in his individual,\njoint, or trust accounts and upon any dividends payable thereon as security for\nall debts and obligations owed by, and for any loan endorsed by, such member to\nthe credit union.\n\nHISTORY: Code 1950, \u00a7 6-214; 1956, c. 90; 1966, c. 584, \u00a7 6.1-206; 1968, c.\n560; 1975, c. 33; 1990, c. 373, \u00a7 6.1-225.42; 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}}