{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-811.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-811.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-811.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-811.html"}],"law_id":71469,"edition_id":1,"section_id":71469,"structure_id":15203,"section_number":"6.2-811","catch_line":"Membership in Federal Reserve Bank System or Federal Home Loan Bank System","history":"Code 1950, \u00a7 6-24; 1966, c. 584, \u00a7 6.1-8; 1993, c. 182; 2010, c. 794.","full_text":"Any bank that has been or is hereafter incorporated under the laws of the Commonwealth, at its election, may become a member bank of the Federal Reserve Bank System, subject to the provisions of the Federal Reserve Act (P.L. 63-43, 38 Stat. 251) as it may be amended to permit a bank to become a member, or the Federal Home Loan Bank System, subject to the provisions of the Federal Home Loan Bank Act (P.L. 72-304, 47 Stat. 785) as it may be amended to permit a bank to become a member, or both. Upon becoming a member of either system, the bank shall be vested with all powers conferred upon state member banks of such systems by the terms of such acts. The powers shall be exercised subject to all restrictions and limitations imposed by the Federal Reserve Act or the Federal Home Loan Bank Act, or by regulations of the Federal Reserve Board or the Federal Housing Finance Board, respectively, adopted pursuant to such acts. The right is expressly reserved to revoke or amend the powers conferred pursuant to this section. The Commission may disclose to the Federal Reserve Board, or to examiners duly appointed by it, all information in reference to the affairs of any bank which has become, or desires to become a member of the system.","order_by":null,"text":{"0":{"id":257624,"text":"Any bank that has been or is hereafter incorporated under the laws of the Commonwealth, at its election, may become a member bank of the Federal Reserve Bank System, subject to the provisions of the Federal Reserve Act (P.L. 63-43, 38 Stat. 251) as it may be amended to permit a bank to become a member, or the Federal Home Loan Bank System, subject to the provisions of the Federal Home Loan Bank Act (P.L. 72-304, 47 Stat. 785) as it may be amended to permit a bank to become a member, or both. Upon becoming a member of either system, the bank shall be vested with all powers conferred upon state member banks of such systems by the terms of such acts. The powers shall be exercised subject to all restrictions and limitations imposed by the Federal Reserve Act or the Federal Home Loan Bank Act, or by regulations of the Federal Reserve Board or the Federal Housing Finance Board, respectively, adopted pursuant to such acts. The right is expressly reserved to revoke or amend the powers conferred pursuant to this section. The Commission may disclose to the Federal Reserve Board, or to examiners duly appointed by it, all information in reference to the affairs of any bank which has become, or desires to become a member of the system.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15203,"edition_id":1,"name":"Incorporation and Powers","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 03:52:57","date_modified":"2026-06-26 03:52:57","permalink":{"id":265377,"object_type":"structure","relational_id":15203,"identifier":"2","token":"6.2\/II\/8\/2","url":"\/6.2\/II\/8\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13791,"edition_id":1,"name":"Banks","identifier":"8","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:53","date_modified":"2026-06-26 03:45:53","permalink":{"id":265065,"object_type":"structure","relational_id":13791,"identifier":"8","token":"6.2\/II\/8","url":"\/6.2\/II\/8\/","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":57883,"structure_id":15203,"section_number":"6.2-808","catch_line":"Incorporation; corporate powers","url":"\/6.2-808\/","token":"6.2\/II\/8\/2\/6.2-808","metadata":false},{"id":64462,"structure_id":15203,"section_number":"6.2-809","catch_line":"Bankers' banks","url":"\/6.2-809\/","token":"6.2\/II\/8\/2\/6.2-809","metadata":false},{"id":66337,"structure_id":15203,"section_number":"6.2-810","catch_line":"Effect of chapter on charter powers","url":"\/6.2-810\/","token":"6.2\/II\/8\/2\/6.2-810","metadata":false},{"id":71469,"structure_id":15203,"section_number":"6.2-811","catch_line":"Membership in Federal Reserve Bank System or Federal Home Loan Bank System","url":"\/6.2-811\/","token":"6.2\/II\/8\/2\/6.2-811","metadata":false},{"id":61874,"structure_id":15203,"section_number":"6.2-812","catch_line":"Inspection of records, reports, and information of insured banks","url":"\/6.2-812\/","token":"6.2\/II\/8\/2\/6.2-812","metadata":false},{"id":61122,"structure_id":15203,"section_number":"6.2-813","catch_line":"Participation by banks in school thrift or savings plans","url":"\/6.2-813\/","token":"6.2\/II\/8\/2\/6.2-813","metadata":false},{"id":78611,"structure_id":15203,"section_number":"6.2-814","catch_line":"Powers of banks","url":"\/6.2-814\/","token":"6.2\/II\/8\/2\/6.2-814","metadata":false},{"id":70892,"structure_id":15203,"section_number":"6.2-815","catch_line":"Suspension of business during emergency","url":"\/6.2-815\/","token":"6.2\/II\/8\/2\/6.2-815","metadata":false},{"id":72786,"structure_id":15203,"section_number":"6.2-816","catch_line":"Banks to obtain certificate of authority","url":"\/6.2-816\/","token":"6.2\/II\/8\/2\/6.2-816","metadata":false},{"id":77490,"structure_id":15203,"section_number":"6.2-817","catch_line":"Capital stock subscriptions","url":"\/6.2-817\/","token":"6.2\/II\/8\/2\/6.2-817","metadata":false},{"id":70515,"structure_id":15203,"section_number":"6.2-818","catch_line":"Repealed","url":"\/6.2-818\/","token":"6.2\/II\/8\/2\/6.2-818","metadata":false},{"id":60477,"structure_id":15203,"section_number":"6.2-818.1","catch_line":"Virtual currency custody services by banks","url":"\/6.2-818.1\/","token":"6.2\/II\/8\/2\/6.2-818.1","metadata":false}],"previous_section":{"id":66337,"structure_id":15203,"section_number":"6.2-810","catch_line":"Effect of chapter on charter powers","url":"\/6.2-810\/","token":"6.2\/II\/8\/2\/6.2-810","metadata":false},"next_section":{"id":61874,"structure_id":15203,"section_number":"6.2-812","catch_line":"Inspection of records, reports, and information of insured banks","url":"\/6.2-812\/","token":"6.2\/II\/8\/2\/6.2-812","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-811\/","history_text":"

The record of this law\u2019s original creation isn\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 1966, chapter 584; in 1993, chapter 182; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":265391,"object_type":"law","relational_id":71469,"identifier":"6.2-811","token":"6.2\/II\/8\/2\/6.2-811","url":"\/6.2-811\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-811\/","token":"6.2\/II\/8\/2\/6.2-811","dublin_core":{"Title":"Membership in Federal Reserve Bank System or Federal Home Loan Bank System","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-811","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any bank<\/span> that has been or is hereafter incorporated under the laws<\/span> of the Commonwealth, at its election, may become a member bank<\/span> of the Federal Reserve Bank<\/span> System, subject to the provisions of the Federal Reserve Act (P.L. 63-43, 38 Stat. 251) as it may be amended to permit a bank<\/span> to become a member, or the Federal Home Loan Bank<\/span> System, subject to the provisions of the Federal Home Loan Bank<\/span> Act (P.L. 72-304, 47 Stat. 785) as it may be amended to permit a bank<\/span> to become a member, or both. Upon becoming a member of either system, the bank<\/span> shall be vested with all powers conferred upon state member banks<\/span> of such systems by the terms of such acts. The powers shall be exercised subject to all restrictions and limitations imposed by the Federal Reserve Act or the Federal Home Loan Bank<\/span> Act, or by regulations of the Federal Reserve Board or the Federal Housing Finance Board, respectively, adopted pursuant to such acts. The right is expressly reserved to revoke or amend<\/span> the powers conferred pursuant to this section. The Commission<\/span> may disclose to the Federal Reserve Board, or to examiners duly appointed by it, all information in reference to the affairs of any bank<\/span> which has become, or desires to become a member of the system.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nMEMBERSHIP IN FEDERAL RESERVE BANK SYSTEM OR FEDERAL HOME LOAN BANK SYSTEM (\u00a7\n6.2-811)\n\nAny bank that has been or is hereafter incorporated under the laws of the\nCommonwealth, at its election, may become a member bank of the Federal Reserve\nBank System, subject to the provisions of the Federal Reserve Act (P.L. 63-43,\n38 Stat. 251) as it may be amended to permit a bank to become a member, or the\nFederal Home Loan Bank System, subject to the provisions of the Federal Home\nLoan Bank Act (P.L. 72-304, 47 Stat. 785) as it may be amended to permit a bank\nto become a member, or both. Upon becoming a member of either system, the bank\nshall be vested with all powers conferred upon state member banks of such\nsystems by the terms of such acts. The powers shall be exercised subject to all\nrestrictions and limitations imposed by the Federal Reserve Act or the Federal\nHome Loan Bank Act, or by regulations of the Federal Reserve Board or the\nFederal Housing Finance Board, respectively, adopted pursuant to such acts. The\nright is expressly reserved to revoke or amend the powers conferred pursuant to\nthis section. The Commission may disclose to the Federal Reserve Board, or to\nexaminers duly appointed by it, all information in reference to the affairs of\nany bank which has become, or desires to become a member of the system.\n\nHISTORY: Code 1950, \u00a7 6-24; 1966, c. 584, \u00a7 6.1-8; 1993, c. 182; 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}}