{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-951.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-951.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-951.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-951.html"}],"law_id":73959,"edition_id":1,"section_id":73959,"structure_id":13985,"section_number":"6.2-951","catch_line":"Definitions","history":"2014, cc. 220, 296.","full_text":"As used in this article:\n\t\t“Benefits consortium” means a trust that complies with the conditions set forth in \u00a7 6.2-952.\n\t\t“ERISA” means the federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829), as amended.\n\t\t“Sponsoring association” means an association (i) the members of which are banks and employers that provide products and services to banks, (ii) that is incorporated under the Virginia Nonstock Corporation Act (\u00a7 13.1-801 et seq.), (iii) that operates as a nonprofit entity under \u00a7 501(c)(6) of the Internal Revenue Code of 1986, (iv) that has been in existence for at least 20 years, and (v) that exists for purposes other than arranging for or providing health and welfare benefits to members. “Sponsoring association” includes any wholly owned subsidiary of a sponsoring association.","order_by":null,"text":{"0":{"id":266007,"text":"As used in this article:\n\t\t“Benefits consortium” means a trust that complies with the conditions set forth in \u00a7 6.2-952.\n\t\t“ERISA” means the federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829), as amended.\n\t\t“Sponsoring association” means an association (i) the members of which are banks and employers that provide products and services to banks, (ii) that is incorporated under the Virginia Nonstock Corporation Act (\u00a7 13.1-801 et seq.), (iii) that operates as a nonprofit entity under \u00a7 501(c)(6) of the Internal Revenue Code of 1986, (iv) that has been in existence for at least 20 years, and (v) that exists for purposes other than arranging for or providing health and welfare benefits to members. “Sponsoring association” includes any wholly owned subsidiary of a sponsoring association.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13985,"edition_id":1,"name":"Benefits Consortium","identifier":"17","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 03:46:31","date_modified":"2026-06-26 03:46:31","permalink":{"id":265363,"object_type":"structure","relational_id":13985,"identifier":"17","token":"6.2\/II\/8\/17","url":"\/6.2\/II\/8\/17\/","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":73959,"structure_id":13985,"section_number":"6.2-951","catch_line":"Definitions","url":"\/6.2-951\/","token":"6.2\/II\/8\/17\/6.2-951","metadata":false},{"id":67346,"structure_id":13985,"section_number":"6.2-952","catch_line":"Conditions for a benefits consortium","url":"\/6.2-952\/","token":"6.2\/II\/8\/17\/6.2-952","metadata":false},{"id":55058,"structure_id":13985,"section_number":"6.2-953","catch_line":"Benefits consortium and sponsoring association not subject to regulation or taxation as an insurance company","url":"\/6.2-953\/","token":"6.2\/II\/8\/17\/6.2-953","metadata":false}],"next_section":{"id":67346,"structure_id":13985,"section_number":"6.2-952","catch_line":"Conditions for a benefits consortium","url":"\/6.2-952\/","token":"6.2\/II\/8\/17\/6.2-952","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-951\/","history_text":"

This law was first created in 2014. The record of its establishment is cataloged in chapters 220<\/a> and 296<\/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.<\/p>","references":false,"refers_to":[{"id":76305,"section_number":"13.1-801","catch_line":"Short title","order_by":null,"url":"\/13.1-801\/"},{"id":67346,"section_number":"6.2-952","catch_line":"Conditions for a benefits consortium","order_by":null,"url":"\/6.2-952\/"}],"permalink":{"id":265365,"object_type":"law","relational_id":73959,"identifier":"6.2-951","token":"6.2\/II\/8\/17\/6.2-951","url":"\/6.2-951\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-951\/","token":"6.2\/II\/8\/17\/6.2-951","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-951","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this article:\n\t\t“Benefits consortium<\/span>” means a trust that complies with the conditions set forth in \u00a7 6.2-952<\/a>.\n\t\t“ERISA<\/span>” means the federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829), as amended.\n\t\t“Sponsoring association<\/span>” means an association (i) the members of which are banks<\/span> and employers that provide products and services to banks<\/span>, (ii) that is incorporated under the Virginia Nonstock Corporation Act (\u00a7 13.1-801<\/a> et seq.), (iii) that operates as a nonprofit entity<\/span> under \u00a7 501(c)(6) of the Internal Revenue Code of 1986, (iv) that has been in existence for at least 20 years, and (v) that exists for purposes other than arranging for or providing health and welfare benefits to members. “Sponsoring association<\/span>” includes any wholly owned subsidiary of a sponsoring association<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 6.2-951)\n\nAs used in this article:\n\t\t“Benefits consortium” means a trust that complies with the\nconditions set forth in \u00a7 6.2-952.\n\t\t“ERISA” means the federal Employee Retirement Income Security Act\nof 1974 (P.L. 93-406, 88 Stat. 829), as amended.\n\t\t“Sponsoring association” means an association (i) the members of\nwhich are banks and employers that provide products and services to banks, (ii)\nthat is incorporated under the Virginia Nonstock Corporation Act (\u00a7 13.1-801 et\nseq.), (iii) that operates as a nonprofit entity under \u00a7 501(c)(6) of the\nInternal Revenue Code of 1986, (iv) that has been in existence for at least 20\nyears, and (v) that exists for purposes other than arranging for or providing\nhealth and welfare benefits to members. “Sponsoring association”\nincludes any wholly owned subsidiary of a sponsoring association.\n\nHISTORY: 2014, cc. 220, 296.","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}}