{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1378.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1378.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1378.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1378.html"}],"law_id":60863,"edition_id":1,"section_id":60863,"structure_id":15794,"section_number":"6.2-1378","catch_line":"Use of reserves","history":"Code 1950, \u00a7 6-227; 1964, c. 75; 1966, c. 584, \u00a7 6.1-218; 1968, c. 560; 1984, c. 410; 1986, c. 146; 1990, c. 373, \u00a7 6.1-225.59; 2010, c. 794.","full_text":"Losses may be charged to the reserve fund. Any sums recovered on items previously charged to it shall be credited to the reserve fund. No dividends shall be paid out of the reserve fund unless the fund, after such payment, exceeds the total amount required to be set aside in the regular reserve and special reserves of the credit union.","order_by":null,"text":{"0":{"id":222513,"text":"Losses may be charged to the reserve fund. Any sums recovered on items previously charged to it shall be credited to the reserve fund. No dividends shall be paid out of the reserve fund unless the fund, after such payment, exceeds the total amount required to be set aside in the regular reserve and special reserves of the credit union.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15794,"edition_id":1,"name":"Reserves","identifier":"10","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:59:39","date_modified":"2026-06-26 03:59:39","permalink":{"id":264585,"object_type":"structure","relational_id":15794,"identifier":"10","token":"6.2\/II\/13\/10","url":"\/6.2\/II\/13\/10\/","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":69787,"structure_id":15794,"section_number":"6.2-1377","catch_line":"Maintenance of regular reserves; special reserves","url":"\/6.2-1377\/","token":"6.2\/II\/13\/10\/6.2-1377","metadata":false},{"id":60863,"structure_id":15794,"section_number":"6.2-1378","catch_line":"Use of reserves","url":"\/6.2-1378\/","token":"6.2\/II\/13\/10\/6.2-1378","metadata":false}],"previous_section":{"id":69787,"structure_id":15794,"section_number":"6.2-1377","catch_line":"Maintenance of regular reserves; special reserves","url":"\/6.2-1377\/","token":"6.2\/II\/13\/10\/6.2-1377","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1378\/","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 1964, chapter 75; in 1966, chapter 584; in 1968, chapter 560; in 1984, chapter 410; in 1986, chapter 146; in 1990, chapter 373; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":264591,"object_type":"law","relational_id":60863,"identifier":"6.2-1378","token":"6.2\/II\/13\/10\/6.2-1378","url":"\/6.2-1378\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1378\/","token":"6.2\/II\/13\/10\/6.2-1378","dublin_core":{"Title":"Use of reserves","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1378","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Losses may be charged to the reserve fund. Any sums recovered on items previously charged to it shall be credited to the reserve fund. No dividends shall be paid out of the reserve fund unless the fund, after such payment, exceeds the total amount required to be set aside in the regular reserve and special reserves<\/span> of the credit union<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nUSE OF RESERVES (\u00a7 6.2-1378)\n\nLosses may be charged to the reserve fund. Any sums recovered on items\npreviously charged to it shall be credited to the reserve fund. No dividends\nshall be paid out of the reserve fund unless the fund, after such payment,\nexceeds the total amount required to be set aside in the regular reserve and\nspecial reserves of the credit union.\n\nHISTORY: Code 1950, \u00a7 6-227; 1964, c. 75; 1966, c. 584, \u00a7 6.1-218; 1968, c.\n560; 1984, c. 410; 1986, c. 146; 1990, c. 373, \u00a7 6.1-225.59; 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}}