                                 CODE OF VIRGINIA

COOPERATIVE LOANS (§ 6.2-1375)

A credit union may originate loans to credit union members jointly with other
credit unions, credit union organizations, or other financial institutions
pursuant to written policies established by the board of directors. The policies
shall include the limitation set forth in § 6.2-1372. A credit union that
originates such a loan shall retain at least a 10 percent interest in such loan.

HISTORY: 1990, c. 373, § 6.1-225.56; 2010, c. 794.