{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1374.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1374.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1374.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1374.html"}],"law_id":79285,"edition_id":1,"section_id":79285,"structure_id":15799,"section_number":"6.2-1374","catch_line":"Lines of credit","history":"1976, c. 204, \u00a7 6.1-212.1; 1986, c. 147; 1990, c. 373, \u00a7 6.1-225.55; 2010, c. 794.","full_text":"Notwithstanding the requirements of \u00a7 6.2-1354, the credit committee or a loan officer may approve an application for a line of credit. When a line of credit has been approved, advances may be made as requested without further loan application or approval if the aggregate outstanding balance on all advances does not exceed the limit specified.","order_by":null,"text":{"0":{"id":283873,"text":"Notwithstanding the requirements of \u00a7 6.2-1354, the credit committee or a loan officer may approve an application for a line of credit. When a line of credit has been approved, advances may be made as requested without further loan application or approval if the aggregate outstanding balance on all advances does not exceed the limit specified.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1374\/","history_text":"<p>This law was first created in 1976. The record of its establishment is cataloged in chapter 204 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 1976 \u201cActs\u201d aren\u2019t available online. It has been modified 3 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 1986, chapter 147; in 1990, chapter 373; in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>.<\/p>","references":false,"refers_to":[{"id":60059,"section_number":"6.2-1354","catch_line":"Credit committee or loan officers; appeal","order_by":null,"url":"\/6.2-1354\/"}],"permalink":{"id":264889,"object_type":"law","relational_id":79285,"identifier":"6.2-1374","token":"6.2\/II\/13\/9\/6.2-1374","url":"\/6.2-1374\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1374\/","token":"6.2\/II\/13\/9\/6.2-1374","dublin_core":{"Title":"Lines of credit","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1374","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Notwithstanding the requirements of \u00a7&nbsp;<a class=\"law\" title=\"Credit committee or loan officers; appeal\" href=\"\/6.2-1354\/\">6.2-1354<\/a>, the credit committee or a loan officer may approve an application for a line of credit. When a line of credit has been approved, advances may be made as requested without further loan application or approval if the aggregate outstanding balance on all advances does not exceed the limit specified.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nLINES OF CREDIT (\u00a7 6.2-1374)\n\nNotwithstanding the requirements of \u00a7 6.2-1354, the credit committee or a loan\nofficer may approve an application for a line of credit. When a line of credit\nhas been approved, advances may be made as requested without further loan\napplication or approval if the aggregate outstanding balance on all advances\ndoes not exceed the limit specified.\n\nHISTORY: 1976, c. 204, \u00a7 6.1-212.1; 1986, c. 147; 1990, c. 373, \u00a7 6.1-225.55;\n2010, 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}}