{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1372.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1372.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1372.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1372.html"}],"law_id":69162,"edition_id":1,"section_id":69162,"structure_id":15799,"section_number":"6.2-1372","catch_line":"Loan limits","history":"Code 1950, \u00a7 6-226; 1956, c. 90; 1966, c. 584, \u00a7 6.1-217; 1968, c. 560; 1972, c. 192; 1975, c. 448; 1979, c. 139; 1987, c. 150; 1990, c. 373, \u00a7 6.1-225.53; 1999, c. 63; 2010, c. 794.","full_text":"A\n\nNo loan may be made by a credit union to a member if, upon making the loan, the member would be indebted to the credit union on loans to such member in an aggregate amount which would exceed the lesser of (i) 10 percent of the credit union’s share accounts and reserve fund or (ii) the maximum amount as authorized by its bylaws.B\n\nThe aggregate amount of a credit union’s “member business loans,” as defined in 12 C.F.R. § 701.21 (h), shall not exceed the limit prescribed for insured credit unions by subsection (a) of § 107A of the Federal Credit Union Act (12 U.S.C. § 1757a), taking into account also the provisions of subsections (b) through (d) of that section.","order_by":null,"text":{"0":{"id":250282,"text":"No loan may be made by a credit union to a member if, upon making the loan, the member would be indebted to the credit union on loans to such member in an aggregate amount which would exceed the lesser of (i) 10 percent of the credit union’s share accounts and reserve fund or (ii) the maximum amount as authorized by its bylaws.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":250283,"text":"The aggregate amount of a credit union’s “member business loans,” as defined in 12 C.F.R. § 701.21 (h), shall not exceed the limit prescribed for insured credit unions by subsection (a) of § 107A of the Federal Credit Union Act (12 U.S.C. § 1757a), taking into account also the provisions of subsections (b) through (d) of that section.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":15799,"edition_id":1,"name":"Loans and Investments","identifier":"9","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:59:42","date_modified":"2026-06-26 03:59:42","permalink":{"id":264871,"object_type":"structure","relational_id":15799,"identifier":"9","token":"6.2\/II\/13\/9","url":"\/6.2\/II\/13\/9\/","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":64987,"structure_id":15799,"section_number":"6.2-1370","catch_line":"Purpose and condition of loans","url":"\/6.2-1370\/","token":"6.2\/II\/13\/9\/6.2-1370","metadata":false},{"id":70966,"structure_id":15799,"section_number":"6.2-1371","catch_line":"Other charges","url":"\/6.2-1371\/","token":"6.2\/II\/13\/9\/6.2-1371","metadata":false},{"id":69162,"structure_id":15799,"section_number":"6.2-1372","catch_line":"Loan limits","url":"\/6.2-1372\/","token":"6.2\/II\/13\/9\/6.2-1372","metadata":false},{"id":73077,"structure_id":15799,"section_number":"6.2-1373","catch_line":"Loans to members of credit committee; nonmember loans","url":"\/6.2-1373\/","token":"6.2\/II\/13\/9\/6.2-1373","metadata":false},{"id":79285,"structure_id":15799,"section_number":"6.2-1374","catch_line":"Lines of credit","url":"\/6.2-1374\/","token":"6.2\/II\/13\/9\/6.2-1374","metadata":false},{"id":60888,"structure_id":15799,"section_number":"6.2-1375","catch_line":"Cooperative loans","url":"\/6.2-1375\/","token":"6.2\/II\/13\/9\/6.2-1375","metadata":false},{"id":61660,"structure_id":15799,"section_number":"6.2-1376","catch_line":"Authorized investments","url":"\/6.2-1376\/","token":"6.2\/II\/13\/9\/6.2-1376","metadata":false}],"previous_section":{"id":70966,"structure_id":15799,"section_number":"6.2-1371","catch_line":"Other charges","url":"\/6.2-1371\/","token":"6.2\/II\/13\/9\/6.2-1371","metadata":false},"next_section":{"id":73077,"structure_id":15799,"section_number":"6.2-1373","catch_line":"Loans to members of credit committee; nonmember loans","url":"\/6.2-1373\/","token":"6.2\/II\/13\/9\/6.2-1373","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1372\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 10 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 1972, chapter 192; in 1975, chapter 448; in 1979, chapter 139; in 1987, chapter 150; in 1990, chapter 373; in 1999, chapter 63<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":60888,"section_number":"6.2-1375","catch_line":"Cooperative loans","order_by":null,"url":"\/6.2-1375\/"}],"refers_to":false,"permalink":{"id":264881,"object_type":"law","relational_id":69162,"identifier":"6.2-1372","token":"6.2\/II\/13\/9\/6.2-1372","url":"\/6.2-1372\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1372\/","token":"6.2\/II\/13\/9\/6.2-1372","dublin_core":{"Title":"Loan limits","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1372","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> No loan may be made by a credit union<\/span> to a member<\/span> if, upon making the loan, the member<\/span> would be indebted to the credit union<\/span> on loans to such member<\/span> in an aggregate amount which would exceed the lesser of (i) 10 percent of the credit union<\/span>’s share accounts<\/span> and reserve fund or (ii) the maximum amount as authorized by its bylaws. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The aggregate amount of a credit union<\/span>’s “member<\/span> business loans,” as defined in 12 C.F.R. § 701.21 (h), shall not exceed the limit prescribed for insured credit unions<\/span> by subsection (a) of § 107A of the Federal Credit Union<\/span> Act (12 U.S.C. § 1757a), taking into account also the provisions of subsections (b) through (d) of that section. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLOAN LIMITS (\u00a7 6.2-1372)\n\nA. No loan may be made by a credit union to a member if, upon making the loan,\nthe member would be indebted to the credit union on loans to such member in an\naggregate amount which would exceed the lesser of (i) 10 percent of the credit\nunion’s share accounts and reserve fund or (ii) the maximum amount as\nauthorized by its bylaws.\n\nB. The aggregate amount of a credit union’s “member business\nloans,” as defined in 12 C.F.R. § 701.21 (h), shall not exceed the\nlimit prescribed for insured credit unions by subsection (a) of § 107A of\nthe Federal Credit Union Act (12 U.S.C. § 1757a), taking into account also\nthe provisions of subsections (b) through (d) of that section.\n\nHISTORY: Code 1950, \u00a7 6-226; 1956, c. 90; 1966, c. 584, \u00a7 6.1-217; 1968, c.\n560; 1972, c. 192; 1975, c. 448; 1979, c. 139; 1987, c. 150; 1990, c. 373, \u00a7\n6.1-225.53; 1999, c. 63; 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}}