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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>56309</law_id><section_number>6.2-1131</section_number><catch_line>Liability of members of mutual savings institutions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Depository Institutions and Trust Organizations</unit><unit label="chapter" level="3" order_by="1" identifier="11">Savings Institutions</unit><unit label="article" level="4" order_by="1" identifier="2">Incorporation; Certificate of Authority; Corporate Administration</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> No <span class="dictionary">member</span> of a <span class="dictionary">mutual savings institution</span> shall be responsible for any losses that the <span class="dictionary">savings account</span> deposits shall not be sufficient to satisfy. <a id="paragraph-206209" class="section-permalink" href="https://vacode.org/6.2-1131/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> No <span class="dictionary">savings account</span> shall be subject to assessment for any unpaid installments on his account. <a id="paragraph-206210" class="section-permalink" href="https://vacode.org/6.2-1131/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> The holder of a <span class="dictionary">savings account</span> shall not be liable for any unpaid installments on his account. <a id="paragraph-206211" class="section-permalink" href="https://vacode.org/6.2-1131/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> No preference between <span class="dictionary">savings account</span> <span class="dictionary">members</span> of a <span class="dictionary">mutual savings institution</span> shall be created with respect to the distribution of <span class="dictionary">assets</span> upon voluntary or involuntary <span class="dictionary">liquidation</span>, dissolution, or winding up of such institution. <a id="paragraph-206212" class="section-permalink" href="https://vacode.org/6.2-1131/#D"><i class="fa fa-link"/></a></p></section></text><history>1985, c. 425, &#xA7; 6.1-194.24; 2010, c. 794.</history><metadata></metadata></law>
