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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>54619</law_id><section_number>6.2-1358</section_number><catch_line>Share accounts</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="13">Credit Unions</unit><unit label="article" level="4" order_by="1" identifier="8">Accounts</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Every <span class="dictionary">credit union</span> may <span class="dictionary">issue</span> <span class="dictionary">shares</span> to and maintain <span class="dictionary">share accounts</span> for any <span class="dictionary">member</span> qualified pursuant to the <span class="dictionary">credit union</span>&#x2019;s bylaws. <a id="paragraph-200603" class="section-permalink" href="https://vacode.org/6.2-1358/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> <span class="dictionary">Shares</span> and <span class="dictionary">share accounts</span> may be withdrawn for payment to the account holder or to third parties in such manner and in accordance with such procedures as may be established by the board of directors. <a id="paragraph-200604" class="section-permalink" href="https://vacode.org/6.2-1358/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> <span class="dictionary">Shares</span> and <span class="dictionary">share accounts</span> shall be subject to any withdrawal notice requirement that may be imposed pursuant to the <span class="dictionary">credit union</span> bylaws. <a id="paragraph-200605" class="section-permalink" href="https://vacode.org/6.2-1358/#C"><i class="fa fa-link"/></a></p></section></text><history>Code 1950, &#xA7; 6-214; 1956, c. 90; 1966, c. 584, &#xA7; 6.1-206; 1968, c. 560; 1975, c. 33; 1990, c. 373, &#xA7; 6.1-225.41; 2010, c. 794.</history><metadata></metadata></law>
