{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1375.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1375.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1375.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1375.html"}],"law_id":60888,"edition_id":1,"section_id":60888,"structure_id":15799,"section_number":"6.2-1375","catch_line":"Cooperative loans","history":"1990, c. 373, \u00a7 6.1-225.56; 2010, c. 794.","full_text":"A credit union may originate loans to credit union members jointly with other credit unions, credit union organizations, or other financial institutions pursuant to written policies established by the board of directors. The policies shall include the limitation set forth in \u00a7 6.2-1372. A credit union that originates such a loan shall retain at least a 10 percent interest in such loan.","order_by":null,"text":{"0":{"id":222699,"text":"A credit union may originate loans to credit union members jointly with other credit unions, credit union organizations, or other financial institutions pursuant to written policies established by the board of directors. The policies shall include the limitation set forth in \u00a7 6.2-1372. A credit union that originates such a loan shall retain at least a 10 percent interest in such loan.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1375\/","history_text":"<p>This law was first created in 1990. The record of its establishment is cataloged in chapter 373 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 1990 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>.<\/p>","references":false,"refers_to":[{"id":69162,"section_number":"6.2-1372","catch_line":"Loan limits","order_by":null,"url":"\/6.2-1372\/"}],"permalink":{"id":264893,"object_type":"law","relational_id":60888,"identifier":"6.2-1375","token":"6.2\/II\/13\/9\/6.2-1375","url":"\/6.2-1375\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1375\/","token":"6.2\/II\/13\/9\/6.2-1375","dublin_core":{"Title":"Cooperative loans","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1375","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>A <span class=\"dictionary\">credit union<\/span> may originate loans to <span class=\"dictionary\">credit union<\/span> <span class=\"dictionary\">members<\/span> jointly with other <span class=\"dictionary\">credit unions<\/span>, <span class=\"dictionary\">credit union<\/span> organizations, or other <span class=\"dictionary\">financial institutions<\/span> pursuant to written policies established by the board of directors. The policies shall include the limitation set forth in \u00a7&nbsp;<a class=\"law\" title=\"Loan limits\" href=\"\/6.2-1372\/\">6.2-1372<\/a>. A <span class=\"dictionary\">credit union<\/span> that originates such a loan shall retain at least a 10 percent interest in such loan.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nCOOPERATIVE LOANS (\u00a7 6.2-1375)\n\nA credit union may originate loans to credit union members jointly with other\ncredit unions, credit union organizations, or other financial institutions\npursuant to written policies established by the board of directors. The policies\nshall include the limitation set forth in \u00a7 6.2-1372. A credit union that\noriginates such a loan shall retain at least a 10 percent interest in such loan.\n\nHISTORY: 1990, c. 373, \u00a7 6.1-225.56; 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}}