Virginia § 6.2-1131 Liability of members of mutual savings institutions

Virginia Statutes

§ 6.2-1131 — Liability of members of mutual savings institutions

Virginia § 6.2-1131

JurisdictionVirginia

Title 6.2FINANCIAL INSTITUTIONS AND SERVICES

Subtitle IIDEPOSITORY INSTITUTIONS AND TRUST ORGANIZATIONS

Ch. 11SAVINGS INSTITUTIONS

Art. 2INCORPORATION; CERTIFICATE OF AUTHORITY; CORPORATE ADMINISTRATION

This text of Virginia § 6.2-1131 (Liability of members of mutual savings institutions) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 6.2-1131 (2026).

Text

A.No member of a mutual savings institution shall be responsible for any losses that the savings account deposits shall not be sufficient to satisfy.

B.No savings account shall be subject to assessment for any unpaid installments on his account.

C.The holder of a savings account shall not be liable for any unpaid installments on his account.

D.No preference between savings account members of a mutual savings institution shall be created with respect to the distribution of assets upon voluntary or involuntary liquidation, dissolution, or winding up of such institution.

Free access — add to your briefcase to read the full text and ask questions with AI

A. No member of a mutual savings institution shall be responsible for any losses that the savings account deposits shall not be sufficient to satisfy.

B. No savings account shall be subject to assessment for any unpaid installments on his account.

C. The holder of a savings account shall not be liable for any unpaid installments on his account.

D. No preference between savings account members of a mutual savings institution shall be created with respect to the distribution of assets upon voluntary or involuntary liquidation, dissolution, or winding up of such institution.