                                 CODE OF VIRGINIA

LOAN LIMITS (§ 6.2-1372)

A. No loan may be made by a credit union to a member if, upon making the loan,
the member would be indebted to the credit union on loans to such member in an
aggregate amount which would exceed the lesser of (i) 10 percent of the credit
union&#8217;s share accounts and reserve fund or (ii) the maximum amount as
authorized by its bylaws.

B. The aggregate amount of a credit union&#8217;s &#8220;member business
loans,&#8221; as defined in 12 C.F.R. &#xA7; 701.21 (h), shall not exceed the
limit prescribed for insured credit unions by subsection (a) of &#xA7; 107A of
the Federal Credit Union Act (12 U.S.C. &#xA7; 1757a), taking into account also
the provisions of subsections (b) through (d) of that section.

HISTORY: Code 1950, § 6-226; 1956, c. 90; 1966, c. 584, § 6.1-217; 1968, c.
560; 1972, c. 192; 1975, c. 448; 1979, c. 139; 1987, c. 150; 1990, c. 373, §
6.1-225.53; 1999, c. 63; 2010, c. 794.