{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1362.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1362.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1362.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1362.html"}],"law_id":77351,"edition_id":1,"section_id":77351,"structure_id":13647,"section_number":"6.2-1362","catch_line":"Minors’ accounts","history":"Code 1950, \u00a7 6-215; 1966, c. 584, \u00a7 6.1-207; 1968, c. 560; 1972, c. 825; 1979, c. 407; 1990, c. 373, \u00a7 6.1-225.45; 2006, c. 755; 2010, c. 794.","full_text":"A credit union may issue shares in the name of a minor as the sole and absolute owner of such shares and may accept the purchase of such shares by and for such owner, pay withdrawals from such share accounts, and act in any other manner with respect to such share accounts on the order of such minor. Any withdrawal of shares or delivery of funds from such account to the owner thereof, or payment of a share draft or other written order for withdrawal signed by such minor owner, shall be a valid and sufficient release and discharge of the credit union for any payment, withdrawal, or delivery so made. The parent or guardian of such minor shall not in his capacity as parent or guardian have the power to withdraw or transfer shares in any such account unless the minor has given written notice to the credit union to accept the signature of such parent or guardian.","order_by":null,"text":{"0":{"id":277432,"text":"A credit union may issue shares in the name of a minor as the sole and absolute owner of such shares and may accept the purchase of such shares by and for such owner, pay withdrawals from such share accounts, and act in any other manner with respect to such share accounts on the order of such minor. Any withdrawal of shares or delivery of funds from such account to the owner thereof, or payment of a share draft or other written order for withdrawal signed by such minor owner, shall be a valid and sufficient release and discharge of the credit union for any payment, withdrawal, or delivery so made. The parent or guardian of such minor shall not in his capacity as parent or guardian have the power to withdraw or transfer shares in any such account unless the minor has given written notice to the credit union to accept the signature of such parent or guardian.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1362\/","history_text":"

The record of this law\u2019s original creation isn\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 1966, chapter 584; in 1968, chapter 560; in 1972, chapter 825; in 1979, chapter 407; in 1990, chapter 373; in 2006, chapter 755<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264839,"object_type":"law","relational_id":77351,"identifier":"6.2-1362","token":"6.2\/II\/13\/8\/6.2-1362","url":"\/6.2-1362\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1362\/","token":"6.2\/II\/13\/8\/6.2-1362","dublin_core":{"Title":"Minors’ accounts","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1362","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A credit union<\/span> may issue<\/span> shares<\/span> in the name of a minor<\/span> as the sole and absolute owner of such shares<\/span> and may accept the purchase of such shares<\/span> by and for such owner, pay withdrawals from such share accounts<\/span>, and act in any other manner with respect to such share accounts<\/span> on the order<\/span> of such minor<\/span>. Any withdrawal of shares<\/span> or delivery of funds from such account to the owner thereof, or payment of a share draft or other written order<\/span> for withdrawal signed by such minor<\/span> owner, shall be a valid and sufficient release and discharge of the credit union<\/span> for any payment, withdrawal, or delivery so made. The parent or guardian of such minor<\/span> shall not in his capacity as parent or guardian have the power to withdraw or transfer shares<\/span> in any such account unless the minor<\/span> has given written notice to the credit union<\/span> to accept the signature of such parent or guardian.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nMINORS’ ACCOUNTS (\u00a7 6.2-1362)\n\nA credit union may issue shares in the name of a minor as the sole and absolute\nowner of such shares and may accept the purchase of such shares by and for such\nowner, pay withdrawals from such share accounts, and act in any other manner\nwith respect to such share accounts on the order of such minor. Any withdrawal\nof shares or delivery of funds from such account to the owner thereof, or\npayment of a share draft or other written order for withdrawal signed by such\nminor owner, shall be a valid and sufficient release and discharge of the credit\nunion for any payment, withdrawal, or delivery so made. The parent or guardian\nof such minor shall not in his capacity as parent or guardian have the power to\nwithdraw or transfer shares in any such account unless the minor has given\nwritten notice to the credit union to accept the signature of such parent or\nguardian.\n\nHISTORY: Code 1950, \u00a7 6-215; 1966, c. 584, \u00a7 6.1-207; 1968, c. 560; 1972, c.\n825; 1979, c. 407; 1990, c. 373, \u00a7 6.1-225.45; 2006, c. 755; 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}}