reglab/housing_qa huggingface dataset:
VA Code § 6.2-1307 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1307. Use of credit union name, logo, or symbol for marketing purposes; penalty

A. Except as provided in subsection B, no person shall use the name, logo, or symbol, or any combination thereof, of a credit union, or any name, logo, or symbol, or any combination thereof, that is deceptively similar to the name, logo, or symbol of a credit union, in marketing material provided to or solicitation of another person in a manner such that a reasonable person may believe that the marketing material or solicitation originated from or is endorsed by the credit union or that the credit union is responsible for the marketing material or solicitation.B. This section shall not apply to (i) an affiliate or agent of the credit union or (ii) a person who uses the name, logo, or symbol of a credit union with the consent of the credit union.C. Any person violating the provisions of this section, either individually or as an interested party, is guilty of a Class 1 misdemeanor.D. This section shall not affect the availability of any remedies otherwise available to a credit union.2005, c. 240, § 6.1-225.65; 2010, c. 794.
VA Code § 6.2-1308 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1308. Supervision and regulation by Commission

Credit unions organized under the provisions of this chapter shall be subject to the supervision and regulation of the Commission.1990, c. 373, § 6.1-225.3; 2010, c. 794.
VA Code § 6.2-1309 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1309. Examinations

A. Each credit union shall be examined as often as the Commission deems that an examination is in the interest of its members, provided that an examination shall be conducted at least twice in every three-year period. The examiners shall be given free access to all books, papers, securities, and other sources of information in respect to the credit union. For the purpose of making an examination, the Commission may subpoena and examine personally witnesses under oath, whether such witnesses are members of the credit union or not, and may require the production of any documents, whether such documents are documents of the credit union or not.B. All expenses incident to any special examination which may be necessary shall be paid by the credit union so examined.Code 1950, § 6-230; 1956, c. 176; 1966, c. 584, § 6.1-221; 1976, c. 658; 1981, c. 521; 1990, c. 373, § 6.1-225.4; 2010, c. 794.
VA Code § 6.2-1310 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1310. Fees for examination, supervision, and regulation

In order to defray the costs of an examination pursuant to § 6.2-1309 and of supervision and regulation by the Commission, every credit union shall pay an annual fee, to be calculated in accordance with a schedule set by the Commission. The schedule shall bear a reasonable relationship to the total assets of various individual credit unions, to the actual cost of their respective examinations, and to other factors relating to their supervision and regulation. Fees shall be assessed pursuant to this section on or before March 1 each year. All fees so assessed shall be paid by the credit union to the state treasury on or before March 31 following the assessment.1981, c. 521, § 6.1-221.1; 1990, c. 373, § 6.1-225.5; 2010, c. 794.
VA Code § 6.2-1311 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1311. Reports to Commission; penalty for failure to make reports

A. No later than March 31 of each year, each credit union shall report to the Commission regarding its condition as of the close of business on the preceding December 31. These reports shall be signed by the president or the chairman and the treasurer or secretary, or by the majority of the members of the supervisory committee. A credit union shall make such other reports as the Commissioner shall at any time demand.B. The Commission may allow a credit union to make the reports required by this section electronically, in accordance with procedures established by the Commission. A credit union that submits a report electronically shall maintain a copy of the report with the required certified signatures affixed.C. If any credit union (i) neglects or refuses to make its reports as provided in this chapter for more than 15 days or (ii) fails to pay such charges as are required under this chapter, including any charges for delay in filing reports, the Commission may impose a civil penalty not exceeding $100 per day upon the credit union, to a maximum of $5,000, or the Commission may give notice to such credit union of its intention to revoke the certificate of authority of the credit union for such neglect or failure. If such neglect or failure continues for 15 days after such notice, then the Commission may revoke or suspend the certificate of authority of the credit union. In such event, the Commission may, in its discretion, (a) close such credit union and take possession of its property and business until such time as it may see fit to allow the credit union to resume business or (b) proceed to finally liquidate such business.Code 1950, §§ 6-229, 6-231; 1956, c. 90; 1964, c. 75; 1966, c. 584, §§ 6.1-220, 6.1-222; 1976, c. 658; 1990, c. 373, § 6.1-225.6; 1998, c. 34; 2010, c. 794.
VA Code § 6.2-1312 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1312. Cease and desist orders; right to hearing

A. The Commission may issue and serve upon a credit union an order to cease and desist from one or more unsafe or unsound practices or violations if, in the opinion of the Commission, a credit union (i) is engaging or has engaged, or there is reasonable cause to believe is about to engage, in an unsafe or unsound practice; or (ii) is violating or has violated, or there is reasonable cause to believe is about to violate, this chapter or any other applicable law, regulation, or order. An order to cease and desist shall contain a statement of the facts constituting the alleged violations or unsafe or unsound practices, and the order may require, in terms that may be mandatory or otherwise, a credit union, its officers, directors, employees, or agents to cease and desist from such practices or violations. The order shall specify the effective date thereof and shall contain a notice to the credit union of its right to a hearing on such order in accordance with the Commission's Rules.B. If an unsafe or unsound practice or violation specified in the order to cease and desist, or any continuation thereof, is likely to prejudice the interest of the members of the credit union, the Commission may issue an order effective immediately. An order to cease and desist shall remain in effect until it is withdrawn or terminated by the Commission after a hearing on the matter. A request for hearing under this section shall be given expeditious treatment on the docket of the Commission, and the Commission need not allow for 10 days' notice to the parties.1990, c. 373, § 6.1-225.7; 2010, c. 794.
VA Code § 6.2-1314 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1314. Penalties for violation of orders of Commission

The Commission may impose a civil penalty not exceeding $10,000 upon any credit union or against any of its directors, officers, or employees for knowingly or willfully violating any lawful order of the Commission.1976, c. 658, § 6.1-223.1; 1990, c. 373, § 6.1-225.9; 2010, c. 794.
VA Code § 6.2-1315 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1315. Removal of director or officer; penalty for acting after removal

A. Whenever any director or officer of a credit union doing business in the Commonwealth violates any lawful order of the Commission or knowingly continues to violate any law relating to credit unions or knowingly continues an unsafe or unsound practice in conducting the business of a credit union, after the director or officer, and the board of directors of the institution of which he is a director or officer, have been warned in writing by the Commissioner to discontinue such violation of law or such unsafe or unsound practice, the Commissioner shall certify the facts to the Commission. The Commission shall thereupon enter an order requiring such director or officer to appear before the Commission, within not less than 10 days, to show cause why he should not be removed from office and thereafter restrained from participating in any manner in the management of the credit union. The order shall contain a brief statement of the facts certified to the Commission by the Commissioner. A copy of the order shall be served upon the director or officer, and a copy thereof shall be sent by certified or registered mail to each director of the credit union affected.B. If, after granting the accused director or officer a reasonable opportunity to be heard, the Commission finds that he has knowingly continued to violate any law relating to the credit union, or has knowingly continued any unsafe or unsound practice in conducting the business of the credit union, after he and the board of directors of the credit union of which he is a director or officer have been warned in writing by the Commissioner to discontinue such violation of law or unsafe or unsound practice, the Commission shall enter an order removing the director or officer from office and restraining the director or officer from thereafter participating in any manner in the management of the credit union. A copy of such order shall be served upon the director or officer and upon the credit union of which he is a director or officer, whereupon the director or officer shall cease to be a director or officer of the credit union and shall thereafter cease to participate in any manner in the management of the credit union.C. Any director or officer removed and restrained under the provisions of this section who thereafter participates in any manner in the management of the credit union, except as a member thereof, is guilty of a Class 6 felony.1976, c. 658, § 6.1-223.1; 1990, c. 373, § 6.1-225.9; 2010, c. 794.
VA Code § 6.2-1316 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1316. Offenses; penalty

Any officer, director, employee, receiver, or agent of a credit union who willfully does any of the following is guilty of a Class 6 felony:1. With the intent to deceive, falsifies any book of account, report, statement, record, or other document of a credit union, whether by alteration, false entry, omission, or otherwise;2. Signs, issues, publishes, or transmits to a government agency any book of account, report, statement, record, or other document that he knows to be false;3. By means of deceit, obtains a signature to a writing that is a subject of forgery;4. With intent to deceive, destroys any credit union book of account, report, statement, record, or other document; or5. With the intent to defraud, shares or receives directly or indirectly any money, property, or benefits through any transaction of the credit union.1985, c. 363, § 6.1-223.2; 1990, c. 373, § 6.1-225.62; 2010, c. 794.
VA Code § 6.2-1319 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1319. Involuntary dissolution

If the Commission determines that a credit union is violating any provisions of this chapter, it may, after a hearing or an opportunity for a hearing has been given to the credit union, direct that it discontinue the illegal methods or practices described in the order. If any credit union is insolvent, or has failed or refused to comply with the provisions of this chapter, the Commission may take possession of the business and property of the credit union and retain such possession until such time as it may permit such credit union to resume business, or until its affairs are finally liquidated under order of the Commission. Alternatively, the Commission may apply to any court in the Commonwealth having jurisdiction to appoint receivers for the appointment of a receiver to take charge of the business and assets and to wind up the affairs and business of any such credit union. The receiver when appointed shall become and be assignee of the assets of such credit union.Code 1950, § 6-232; 1950, c. 93; 1966, c. 584, § 6.1-223; 1990, c. 373, § 6.1-225.12; 2010, c. 794.
VA Code § 6.2-1320 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1320. Incorporation

A. Five or more residents of the Commonwealth who are of legal age and share a common bond referred to in subsection B of § 6.2-1327 may establish, pursuant to the provisions of the Virginia Nonstock Corporation Act (§ 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 "credit union" 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 (§ 13.1-801 et seq.), except as may otherwise be provided in this chapter.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.
VA Code § 6.2-1321 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1321. Certificate of authority

A. Before it begins to do any business, an organizing credit union shall apply for and obtain from the Commission a certificate of authority. An application, accompanied by a fee of $300, shall be made on a form prescribed by the Commission. The Commission shall issue such a certificate if it finds that:1. The credit union has been formed for no purpose other than the conduct of a legitimate credit union business;2. The moral fitness, financial responsibility, and other qualifications of the proposed officers and directors are such as to command the confidence of the members;3. The field of membership of the proposed credit union complies with § 6.2-1327, and all other applicable provisions of law have been complied with;4. Share accounts in the credit union will be insured by an approved insuring organization; and5. Establishment of the proposed credit union is economically advisable. In reaching a decision on whether the establishment of a credit union is economically advisable, the Commission shall give consideration to 12 C.F.R. § 701.1, which incorporates the National Credit Union Administration's Interpretive Ruling and Policy Statement 99-1 as it pertains to economic advisability.B. The Commission may issue a certificate on condition that the credit union shall not begin to do business until it is actually issued insurance of accounts by an approved insuring organization.C. A credit union that is not actually issued insurance of accounts by an approved insuring organization shall not receive funds or sell any shares.Code 1950, § 6-205; 1952, c. 22; 1966, c. 584, § 6.1-197; 1968, c. 560; 1974, c. 115; 1978, c. 683; 1990, c. 373, § 6.1-225.14; 1999, c. 63; 2010, c. 794.
VA Code § 6.2-1322 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1322. Contents of bylaws; amendments to bylaws generally

The bylaws of a credit union shall specify:1. The name of the credit union;2. The purpose for which it was formed;3. The time of the annual meeting of the members of the credit union, or a provision that the board of directors may set the time for the meeting. Such a meeting shall be held each calendar year. Notice of all meetings shall be given in a manner prescribed in the bylaws, subject to compliance with § 13.1-842;4. The number, authority, and the duties of the directors and the authority, duties, and maximum compensation of all officers;5. The conditions and qualifications for membership;6. The number of members of the credit committee, if any, and of the supervisory committee, with their respective authorities and duties;7. The conditions upon which shares may be issued, transferred, or withdrawn;8. The conditions upon which loans may be made and repaid;9. The manner of effecting the forfeiture of a member's shares when a member's share account balance is below the amount established by the bylaws and remains below such amount for a period of two years;10. The manner in which dividends shall be determined and paid out;11. The manner in which remaining assets are to be distributed in the event of dissolution after all distributions required by subdivision A 1 of § 13.1-907 have been made; and12. The manner in which bylaws may be amended.Code 1950, § 6-207; 1956, c. 90; 1966, c. 584, § 6.1-198; 1968, c. 560; 1980, c. 181; 1983, c. 300; 1990, c. 373, § 6.1-225.15; 2010, c. 794.
VA Code § 6.2-1323 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1323. Amendments to articles of incorporation and bylaws

A. Subject to the provisions of subsection B and §§ 13.1-886, 13.1-892, and 13.1-893, the articles of incorporation or the bylaws of a credit union may be amended as provided in the articles and bylaws, as the case may be. Amendments to the articles of incorporation shall be accomplished as provided in §§ 13.1-888 and 13.1-889.B. If proposed amendments to the articles of incorporation or bylaws include an amendment to expand the field of membership of a credit union, then the amendments shall be submitted to the Commissioner, who shall approve or disapprove them within 30 days. No amendments to the articles of incorporation or bylaws that include an amendment to expand the field of membership shall be effective until such amendment has been approved by the Commissioner, who may extend the period for approval as he may deem necessary for as much as an additional 30 days.Code 1950, § 6-208; 1966, c. 584, § 6.1-199; 1990, c. 373, § 6.1-225.16; 1999, c. 63; 2010, c. 794; 2012, cc. 44, 560.
VA Code § 6.2-1324 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1324. Bylaws amended by Commission

Any bylaw may be amended by the Commission by order entered on its order book and certified to the credit union. Before entering any such order the Commission shall notify the credit union of the proposed amendment and afford it an opportunity to be heard.Code 1950, § 6-207; 1956, c. 90; 1966, c. 584, § 6.1-198; 1968, c. 560; 1980, c. 181; 1983, c. 300; 1990, c. 373, § 6.1-225.17; 2010, c. 794.
VA Code § 6.2-1325 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1325. Fiscal year

The fiscal year of every credit union shall end at the close of business on December 31.Code 1950, § 6-218; 1956, c. 90; 1966, c. 584, § 6.1-209; 1968, c. 560; 1984, c. 353; 1990, c. 373, § 6.1-225.18; 2010, c. 794.
VA Code § 6.2-1328 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1328. Expansion of field of membership

When practicable and consistent with reasonable safety-and-soundness standards, the Commission shall encourage the formation of a separately chartered credit union instead of adding a new group to the field of membership of an existing credit union. If the Commission finds that the formation of a separate credit union by a group desiring such services is not practicable, or is not consistent with reasonable safety-and-soundness standards, it may authorize the group to be included in the field of membership of a state credit union that is located within reasonable proximity, if the Commission finds, based on the information it compiles, that the credit union proposed to be expanded:1. Is adequately capitalized and will continue to have insurance on its members' shares and other accounts;2. Has not engaged in any materially unsafe or unsound practice in the year preceding its application to expand; and3. Has the management, administrative and financial resources to serve the additional group effectively. The Commission shall not authorize the proposed inclusion of a new group unless it finds that any potential harm to another insured credit union or its members which would likely result from the proposed expansion is clearly outweighed in the public interest by the probable beneficial effects of the proposed expansion in meeting the convenience and needs of the members of the group proposed to be included.1999, c. 63, § 6.1-225.23:1; 2010, c. 794.
VA Code § 6.2-1329 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1329. Membership meetings; voting

A. The annual meeting and any special meeting of the credit union shall be held in accordance with the bylaws.B. At all meetings a member shall have but one vote. Except as hereinafter provided, no member may vote by proxy, but a member may vote by absentee ballot, mail, or other method if the bylaws so provide. An entity having membership in the credit union may be represented by one person authorized by the entity to so represent it. At any meeting called for the purpose of amending the articles of incorporation or dissolving the credit union any member may vote by proxy.C. The board of directors may establish a minimum age, not greater than 18 years of age, as a qualification of eligibility to vote at meetings of the members, to hold office, or both.Code 1950, § 6-218; 1956, c. 90; 1966, c. 584, § 6.1-209; 1968, c. 560; 1984, c. 353; 1990, c. 373, § 6.1-225.24; 2010, c. 794.
VA Code § 6.2-1330 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1330. Special meetings

A. The supervisory committee by a majority vote may call a meeting of the members to consider any violation of this chapter, the credit union's articles of incorporation or bylaws, or any practice of the credit union deemed by the supervisory committee to be unsafe or unauthorized.B. The bylaws may also prescribe the manner in which a special meeting of the members may be called by the members or by the board of directors.Code 1950, § 6-222; 1966, c. 584, § 6.1-213; 1974, c. 106; 1982, c. 574; 1990, c. 373, § 6.1-225.25; 2010, c. 794.
VA Code § 6.2-1331 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1331. Definitions

As used in this article, unless the context requires a different meaning:"Corporation" means a corporation organized in accordance with this article."Member credit union" means a credit union which is a member of the corporation."Shares" means the interest of a member having a savings account in a member credit union.1974, c. 587, § 6.1-226.2; 2010, c. 794.
VA Code § 6.2-1332 (2021)
2021 Code of Virginia|Title 6.2 - Financial Institutions and Services|Chapter 13 - Credit Unions|§ 6.2-1332. Insurance of shares

Every credit union authorized to do business in the Commonwealth shall insure its members' shares with an approved insuring organization. A credit union that has been denied a commitment for insurance or fails to maintain insurance upon its shares shall either dissolve or merge with another credit union that is insured by such an insuring organization.1974, c. 116, § 6.1-200.1; 1990, c. 373, § 6.1-225.26; 2010, c. 794.