                                 CODE OF VIRGINIA

INCORPORATION (§ 6.2-1320)

A. Five or more residents of the Commonwealth who are of legal age and share a
common bond referred to in subsection B of &#xA7; 6.2-1327 may establish,
pursuant to the provisions of the Virginia Nonstock Corporation Act (&#xA7;
13.1-801 et seq.), a corporation for the purpose of conducting business as a
credit union as provided in this chapter. Every corporation organized under this
chapter shall include in the corporate name the words &#8220;credit union&#8221;
as well as some other distinguishing word or words.

B. Credit unions incorporated pursuant to this chapter shall be subject to the
provisions of the Virginia Nonstock Corporation Act (&#xA7; 13.1-801 et seq.),
except as may otherwise be provided in this chapter.

HISTORY: Code 1950, § 6-204; 1956, c. 433; 1958, c. 139; 1966, c. 584, §
6.1-196; 1968, c. 560; 1990, c. 373, § 6.1-225.13; 2010, c. 794.