{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-433.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-433.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-433.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-433.html"}],"law_id":68015,"edition_id":1,"section_id":68015,"structure_id":14869,"section_number":"6.2-433","catch_line":"Amendment to open-end credit contract or plan by bank or savings institution","history":"1987, cc. 622, 639, 714, \u00a7 6.1-330.63; 1992, Sp. Sess., c. 4; 1997, c. 112; 2005, c. 670; 2010, c. 794.","full_text":"A\n\nAny open-end credit plan, as defined in § 6.2-300, by a bank or savings institution may be amended in any respect by the bank or savings institution at any time and from time to time to modify or delete terms, or to add new terms, which new or modified terms and amendment need not be of a kind previously included in or contemplated by such contract or plan, or of a kind integral to the relationship of the parties, by following the procedures, if any, set forth in the contract or plan for effecting changes in the terms thereof, subject to the bank’s or savings institution’s complying with any applicable notice requirements under the Truth in Lending Act (15 U.S.C. § 1601 et seq.) and regulations promulgated thereunder, as in effect from time to time.B\n\nUnless the contract or plan referred to in subsection A otherwise expressly provides, a bank or savings institution may amend such contract or plan in any respect at any time and from time to time, whether or not the amendment or the subject of the amendment was originally contemplated or addressed by the parties or is integral to the relationship between the parties. Without limiting the foregoing, such amendment may change terms by the addition of new terms or by the deletion or modification of existing terms, whether relating to plan benefits or features, the periodic rate or rates used to calculate finance charges, the manner of calculating periodic rate finance charges or outstanding unpaid indebtedness, variable schedules or formulas, finance charges other than periodic rate finance charges, other charges or fees, collateral requirements, methods for obtaining or repaying extensions of credit, attorney fees, plan termination, the manner for amending the terms of the contract or plan, arbitration or other alternative dispute resolution mechanisms, or other matters of any kind whatsoever. Unless the contract or plan otherwise expressly provides, any amendment may, on and after the date upon which it becomes effective as to a particular borrower, apply to all then outstanding unpaid indebtedness in the borrower’s account under the contract or plan, including any such indebtedness that arose prior to the effective date of the amendment. A contract or plan may be amended pursuant to this subsection regardless of whether the contract or plan is active or inactive or whether additional borrowings are available thereunder. Any such amendment may become effective as determined by the bank or savings institution, subject to compliance by the bank or savings institution with any applicable provisions under the Truth in Lending Act (15 U.S.C. § 1601 et seq.) and the regulations promulgated thereunder, as in effect from time to time. Any notice of an amendment sent by the bank or savings institution may be included in the same envelope with a periodic statement or as part of the periodic statement or in other materials sent to the borrower.","order_by":null,"text":{"0":{"id":246254,"text":"Any open-end credit plan, as defined in § 6.2-300, by a bank or savings institution may be amended in any respect by the bank or savings institution at any time and from time to time to modify or delete terms, or to add new terms, which new or modified terms and amendment need not be of a kind previously included in or contemplated by such contract or plan, or of a kind integral to the relationship of the parties, by following the procedures, if any, set forth in the contract or plan for effecting changes in the terms thereof, subject to the bank’s or savings institution’s complying with any applicable notice requirements under the Truth in Lending Act (15 U.S.C. § 1601 et seq.) and regulations promulgated thereunder, as in effect from time to time.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":246255,"text":"Unless the contract or plan referred to in subsection A otherwise expressly provides, a bank or savings institution may amend such contract or plan in any respect at any time and from time to time, whether or not the amendment or the subject of the amendment was originally contemplated or addressed by the parties or is integral to the relationship between the parties. Without limiting the foregoing, such amendment may change terms by the addition of new terms or by the deletion or modification of existing terms, whether relating to plan benefits or features, the periodic rate or rates used to calculate finance charges, the manner of calculating periodic rate finance charges or outstanding unpaid indebtedness, variable schedules or formulas, finance charges other than periodic rate finance charges, other charges or fees, collateral requirements, methods for obtaining or repaying extensions of credit, attorney fees, plan termination, the manner for amending the terms of the contract or plan, arbitration or other alternative dispute resolution mechanisms, or other matters of any kind whatsoever. Unless the contract or plan otherwise expressly provides, any amendment may, on and after the date upon which it becomes effective as to a particular borrower, apply to all then outstanding unpaid indebtedness in the borrower’s account under the contract or plan, including any such indebtedness that arose prior to the effective date of the amendment. A contract or plan may be amended pursuant to this subsection regardless of whether the contract or plan is active or inactive or whether additional borrowings are available thereunder. Any such amendment may become effective as determined by the bank or savings institution, subject to compliance by the bank or savings institution with any applicable provisions under the Truth in Lending Act (15 U.S.C. § 1601 et seq.) and the regulations promulgated thereunder, as in effect from time to time. Any notice of an amendment sent by the bank or savings institution may be included in the same envelope with a periodic statement or as part of the periodic statement or in other materials sent to the borrower.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14869,"edition_id":1,"name":"Open-End Credit Plans","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":12854,"metadata":{},"date_created":"2026-06-26 03:50:29","date_modified":"2026-06-26 03:50:29","permalink":{"id":263603,"object_type":"structure","relational_id":14869,"identifier":"4","token":"6.2\/I\/4\/4","url":"\/6.2\/I\/4\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12854,"edition_id":1,"name":"Certain Lending Practices","identifier":"4","label":"chapter","depth":3,"order_by":1,"parent_id":12853,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263463,"object_type":"structure","relational_id":12854,"identifier":"4","token":"6.2\/I\/4","url":"\/6.2\/I\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12853,"edition_id":1,"name":"General Provisions","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263251,"object_type":"structure","relational_id":12853,"identifier":"I","token":"6.2\/I","url":"\/6.2\/I\/","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":68015,"structure_id":14869,"section_number":"6.2-433","catch_line":"Amendment to open-end credit contract or plan by bank or savings institution","url":"\/6.2-433\/","token":"6.2\/I\/4\/4\/6.2-433","metadata":false},{"id":56803,"structure_id":14869,"section_number":"6.2-434","catch_line":"Law governing open-end credit contract or plan by bank or savings institution","url":"\/6.2-434\/","token":"6.2\/I\/4\/4\/6.2-434","metadata":false},{"id":80025,"structure_id":14869,"section_number":"6.2-435","catch_line":"Law governing open-end credit contract or plan by seller or lender","url":"\/6.2-435\/","token":"6.2\/I\/4\/4\/6.2-435","metadata":false}],"next_section":{"id":56803,"structure_id":14869,"section_number":"6.2-434","catch_line":"Law governing open-end credit contract or plan by bank or savings institution","url":"\/6.2-434\/","token":"6.2\/I\/4\/4\/6.2-434","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-433\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapters 622, 639, and 714 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 1987 \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 1997, chapter 112<\/a>; in 2005, chapter 670<\/a>; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"id":61230,"section_number":"6.2-300","catch_line":"Definitions","order_by":null,"url":"\/6.2-300\/"}],"permalink":{"id":263605,"object_type":"law","relational_id":68015,"identifier":"6.2-433","token":"6.2\/I\/4\/4\/6.2-433","url":"\/6.2-433\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-433\/","token":"6.2\/I\/4\/4\/6.2-433","dublin_core":{"Title":"Amendment to open-end credit contract or plan by bank or savings institution","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-433","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Any open-end credit plan, as defined in § 6.2-300<\/a>, by a bank or savings institution may be amended in any respect by the bank or savings institution at any time and from time to time to modify or delete terms, or to add new terms, which new or modified terms and amendment need not be of a kind previously included in or contemplated by such contract<\/span> or plan, or of a kind integral to the relationship of the parties, by following the procedures, if any, set forth in the contract<\/span> or plan for effecting changes in the terms thereof, subject to the bank’s or savings institution’s complying with any applicable notice requirements under the Truth in Lending Act (15 U.S.C. § 1601 et seq.) and regulations promulgated thereunder, as in effect from time to time. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Unless the contract<\/span> or plan referred to in subsection A otherwise expressly provides, a bank or savings institution may amend<\/span> such contract<\/span> or plan in any respect at any time and from time to time, whether or not the amendment or the subject of the amendment was originally contemplated or addressed by the parties or is integral to the relationship between the parties. Without limiting the foregoing, such amendment may change terms by the addition of new terms or by the deletion or modification of existing terms, whether relating to plan benefits or features, the periodic rate or rates used to calculate finance charges, the manner of calculating periodic rate finance charges or outstanding unpaid indebtedness, variable schedules<\/span> or formulas, finance charges other than periodic rate finance charges, other charges or fees, collateral<\/span> requirements, methods for obtaining or repaying extensions of credit, attorney fees, plan termination, the manner for amending the terms of the contract<\/span> or plan, arbitration or other alternative dispute resolution<\/span> mechanisms, or other matters of any kind whatsoever. Unless the contract<\/span> or plan otherwise expressly provides, any amendment may, on and after the date upon which it becomes effective as to a particular borrower, apply to all then outstanding unpaid indebtedness in the borrower’s account under the contract<\/span> or plan, including any such indebtedness that arose prior to the effective date of the amendment. A contract<\/span> or plan may be amended pursuant to this subsection regardless of whether the contract<\/span> or plan is active or inactive or whether additional borrowings are available thereunder. Any such amendment may become effective as determined by the bank or savings institution, subject to compliance by the bank or savings institution with any applicable provisions under the Truth in Lending Act (15 U.S.C. § 1601 et seq.) and the regulations promulgated thereunder, as in effect from time to time. Any notice of an amendment sent by the bank or savings institution may be included in the same envelope with a periodic statement or as part of the periodic statement or in other materials<\/span> sent to the borrower. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAMENDMENT TO OPEN-END CREDIT CONTRACT OR PLAN BY BANK OR SAVINGS INSTITUTION (\u00a7\n6.2-433)\n\nA. Any open-end credit plan, as defined in § 6.2-300, by a bank or savings\ninstitution may be amended in any respect by the bank or savings institution at\nany time and from time to time to modify or delete terms, or to add new terms,\nwhich new or modified terms and amendment need not be of a kind previously\nincluded in or contemplated by such contract or plan, or of a kind integral to\nthe relationship of the parties, by following the procedures, if any, set forth\nin the contract or plan for effecting changes in the terms thereof, subject to\nthe bank’s or savings institution’s complying with any applicable\nnotice requirements under the Truth in Lending Act (15 U.S.C. § 1601 et\nseq.) and regulations promulgated thereunder, as in effect from time to time.\n\nB. Unless the contract or plan referred to in subsection A otherwise expressly\nprovides, a bank or savings institution may amend such contract or plan in any\nrespect at any time and from time to time, whether or not the amendment or the\nsubject of the amendment was originally contemplated or addressed by the parties\nor is integral to the relationship between the parties. Without limiting the\nforegoing, such amendment may change terms by the addition of new terms or by\nthe deletion or modification of existing terms, whether relating to plan\nbenefits or features, the periodic rate or rates used to calculate finance\ncharges, the manner of calculating periodic rate finance charges or outstanding\nunpaid indebtedness, variable schedules or formulas, finance charges other than\nperiodic rate finance charges, other charges or fees, collateral requirements,\nmethods for obtaining or repaying extensions of credit, attorney fees, plan\ntermination, the manner for amending the terms of the contract or plan,\narbitration or other alternative dispute resolution mechanisms, or other matters\nof any kind whatsoever. Unless the contract or plan otherwise expressly\nprovides, any amendment may, on and after the date upon which it becomes\neffective as to a particular borrower, apply to all then outstanding unpaid\nindebtedness in the borrower’s account under the contract or plan,\nincluding any such indebtedness that arose prior to the effective date of the\namendment. A contract or plan may be amended pursuant to this subsection\nregardless of whether the contract or plan is active or inactive or whether\nadditional borrowings are available thereunder. Any such amendment may become\neffective as determined by the bank or savings institution, subject to\ncompliance by the bank or savings institution with any applicable provisions\nunder the Truth in Lending Act (15 U.S.C. § 1601 et seq.) and the\nregulations promulgated thereunder, as in effect from time to time. Any notice\nof an amendment sent by the bank or savings institution may be included in the\nsame envelope with a periodic statement or as part of the periodic statement or\nin other materials sent to the borrower.\n\nHISTORY: 1987, cc. 622, 639, 714, \u00a7 6.1-330.63; 1992, Sp. Sess., c. 4; 1997, c.\n112; 2005, c. 670; 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}}