{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1380.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1380.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1380.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1380.html"}],"law_id":54606,"edition_id":1,"section_id":54606,"structure_id":13636,"section_number":"6.2-1380","catch_line":"Examinations; periodic reports; cooperative agreements; assessment of fees","history":"1998, c. 23, \u00a7 6.1-225.61:1; 2010, c. 794.","full_text":"A\n\nThe Commission may make such examinations of an out-of-state credit union conducting business in the Commonwealth pursuant to § 6.2-1379 as the Commission may deem necessary to determine whether the credit union is operating in compliance with the laws of the Commonwealth or to ensure that any office or facility of the out-of-state credit union is being operated in a safe and sound manner. The provisions of § 6.2-1309 shall apply to such examinations.B\n\nThe Commission shall require periodic reports from any out-of-state credit union that so conducts business in the Commonwealth. Such reports shall be filed under oath with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with the provisions of this chapter.C\n\nThe Commission may enter into cooperative agreements with appropriate state credit union supervisors and federal credit union agencies for the examination of any office or facility in the Commonwealth of an out-of-state credit union, or any office or facility of a Virginia credit union in any host state, and may accept such supervisors’ and agencies’ reports of examination and reports of investigation in lieu of conducting its own examinations or investigations. The Commission may enter into joint actions with other state credit union supervisors and federal agencies having concurrent jurisdiction over any such out-of-state credit union or any branch of a Virginia credit union, or may take such actions independently to carry out its responsibilities under this article and to assure compliance with the laws of the Commonwealth.D\n\nOut-of-state credit unions may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the laws of the Commonwealth and regulations of the Commission. Such fees may be shared with other state and federal regulators and agencies in accordance with agreements between them and the Commission.","order_by":null,"text":{"0":{"id":200492,"text":"The Commission may make such examinations of an out-of-state credit union conducting business in the Commonwealth pursuant to § 6.2-1379 as the Commission may deem necessary to determine whether the credit union is operating in compliance with the laws of the Commonwealth or to ensure that any office or facility of the out-of-state credit union is being operated in a safe and sound manner. The provisions of § 6.2-1309 shall apply to such examinations.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":200493,"text":"The Commission shall require periodic reports from any out-of-state credit union that so conducts business in the Commonwealth. Such reports shall be filed under oath with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with the provisions of this chapter.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":200494,"text":"The Commission may enter into cooperative agreements with appropriate state credit union supervisors and federal credit union agencies for the examination of any office or facility in the Commonwealth of an out-of-state credit union, or any office or facility of a Virginia credit union in any host state, and may accept such supervisors’ and agencies’ reports of examination and reports of investigation in lieu of conducting its own examinations or investigations. The Commission may enter into joint actions with other state credit union supervisors and federal agencies having concurrent jurisdiction over any such out-of-state credit union or any branch of a Virginia credit union, or may take such actions independently to carry out its responsibilities under this article and to assure compliance with the laws of the Commonwealth.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":200495,"text":"Out-of-state credit unions may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the laws of the Commonwealth and regulations of the Commission. Such fees may be shared with other state and federal regulators and agencies in accordance with agreements between them and the Commission.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":13636,"edition_id":1,"name":"Out-Of-State Credit Unions","identifier":"11","label":"article","depth":4,"order_by":1,"parent_id":13635,"metadata":{},"date_created":"2026-06-26 03:45:26","date_modified":"2026-06-26 03:45:26","permalink":{"id":264595,"object_type":"structure","relational_id":13636,"identifier":"11","token":"6.2\/II\/13\/11","url":"\/6.2\/II\/13\/11\/","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":83143,"structure_id":13636,"section_number":"6.2-1379","catch_line":"Out-of-state credit unions","url":"\/6.2-1379\/","token":"6.2\/II\/13\/11\/6.2-1379","metadata":false},{"id":54606,"structure_id":13636,"section_number":"6.2-1380","catch_line":"Examinations; periodic reports; cooperative agreements; assessment of fees","url":"\/6.2-1380\/","token":"6.2\/II\/13\/11\/6.2-1380","metadata":false}],"previous_section":{"id":83143,"structure_id":13636,"section_number":"6.2-1379","catch_line":"Out-of-state credit unions","url":"\/6.2-1379\/","token":"6.2\/II\/13\/11\/6.2-1379","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1380\/","history_text":"

This law was first created in 1998. The record of its establishment is cataloged in chapter 23<\/a> 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. 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 794<\/a>.<\/p>","references":false,"refers_to":[{"id":84662,"section_number":"6.2-1309","catch_line":"Examinations","order_by":null,"url":"\/6.2-1309\/"},{"id":83143,"section_number":"6.2-1379","catch_line":"Out-of-state credit unions","order_by":null,"url":"\/6.2-1379\/"}],"permalink":{"id":264601,"object_type":"law","relational_id":54606,"identifier":"6.2-1380","token":"6.2\/II\/13\/11\/6.2-1380","url":"\/6.2-1380\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1380\/","token":"6.2\/II\/13\/11\/6.2-1380","dublin_core":{"Title":"Examinations; periodic reports; cooperative agreements; assessment of fees","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1380","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Commission<\/span> may make such examinations of an out-of-state credit union<\/span> conducting business in the Commonwealth pursuant to § 6.2-1379<\/a> as the Commission<\/span> may deem necessary to determine whether the credit union<\/span> is operating in compliance with the laws<\/span> of the Commonwealth or to ensure that any office or facility of the out-of-state credit union<\/span> is being operated in a safe and sound manner. The provisions of § 6.2-1309<\/a> shall apply to such examinations. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission<\/span> shall require periodic reports from any out-of-state credit union<\/span> that so conducts business in the Commonwealth. Such reports shall be filed under oath<\/span> with such frequency and in such scope and detail as may be appropriate for the purpose of assuring continuing compliance with the provisions of this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Commission<\/span> may enter into cooperative agreements with appropriate state credit union<\/span> supervisors and federal credit union<\/span> agencies for the examination of any office or facility in the Commonwealth of an out-of-state credit union<\/span>, or any office or facility of a Virginia credit union<\/span> in any host state, and may accept such supervisors’ and agencies’ reports of examination and reports of investigation in lieu of conducting its own examinations or investigations. The Commission<\/span> may enter into joint actions with other state credit union<\/span> supervisors and federal agencies having concurrent jurisdiction<\/span> over any such out-of-state credit union<\/span> or any branch of a Virginia credit union<\/span>, or may take such actions independently to carry out its responsibilities under this article and to assure compliance with the laws<\/span> of the Commonwealth. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Out-of-state credit unions<\/span> may be assessed and, if assessed, shall pay supervisory and examination fees in accordance with the laws<\/span> of the Commonwealth and regulations of the Commission<\/span>. Such fees may be shared with other state and federal regulators and agencies in accordance with agreements between them and the Commission<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXAMINATIONS; PERIODIC REPORTS; COOPERATIVE AGREEMENTS; ASSESSMENT OF FEES (\u00a7\n6.2-1380)\n\nA. The Commission may make such examinations of an out-of-state credit union\nconducting business in the Commonwealth pursuant to § 6.2-1379 as the\nCommission may deem necessary to determine whether the credit union is operating\nin compliance with the laws of the Commonwealth or to ensure that any office or\nfacility of the out-of-state credit union is being operated in a safe and sound\nmanner. The provisions of § 6.2-1309 shall apply to such examinations.\n\nB. The Commission shall require periodic reports from any out-of-state credit\nunion that so conducts business in the Commonwealth. Such reports shall be filed\nunder oath with such frequency and in such scope and detail as may be\nappropriate for the purpose of assuring continuing compliance with the\nprovisions of this chapter.\n\nC. The Commission may enter into cooperative agreements with appropriate state\ncredit union supervisors and federal credit union agencies for the examination\nof any office or facility in the Commonwealth of an out-of-state credit union,\nor any office or facility of a Virginia credit union in any host state, and may\naccept such supervisors’ and agencies’ reports of examination and\nreports of investigation in lieu of conducting its own examinations or\ninvestigations. The Commission may enter into joint actions with other state\ncredit union supervisors and federal agencies having concurrent jurisdiction\nover any such out-of-state credit union or any branch of a Virginia credit\nunion, or may take such actions independently to carry out its responsibilities\nunder this article and to assure compliance with the laws of the Commonwealth.\n\nD. Out-of-state credit unions may be assessed and, if assessed, shall pay\nsupervisory and examination fees in accordance with the laws of the Commonwealth\nand regulations of the Commission. Such fees may be shared with other state and\nfederal regulators and agencies in accordance with agreements between them and\nthe Commission.\n\nHISTORY: 1998, c. 23, \u00a7 6.1-225.61:1; 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}}