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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>56262</law_id><section_number>6.2-1359</section_number><catch_line>Payment for shares; transfers; lien on shares</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><p><span class="dictionary">Shares</span> shall be paid for in money. <span class="dictionary">Shares</span> may be subscribed to, paid for, and transferred in such manner as the bylaws prescribe. The <span class="dictionary">credit union</span> shall have a <span class="dictionary">lien</span> on the <span class="dictionary">shares</span>, including <span class="dictionary">share accounts</span> of a <span class="dictionary">member</span> in his individual, joint, or trust accounts and upon any dividends payable thereon as security for all debts and obligations owed by, and for any loan endorsed by, such <span class="dictionary">member</span> to the <span class="dictionary">credit union</span>.</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; 6.1-225.42; 2010, c. 794.</history><metadata></metadata></law>
