Virginia § 6.2-1358 Share accounts

Virginia Statutes

§ 6.2-1358 — Share accounts

Virginia § 6.2-1358

JurisdictionVirginia

Title 6.2FINANCIAL INSTITUTIONS AND SERVICES

Subtitle IIDEPOSITORY INSTITUTIONS AND TRUST ORGANIZATIONS

Ch. 13CREDIT UNIONS

Art. 8ACCOUNTS

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Bluebook

Va. Code Ann. § 6.2-1358 (2026).

Text

A.Every credit union may issue shares to and maintain share accounts for any member qualified pursuant to the credit union's bylaws.

B.Shares and share accounts may be withdrawn for payment to the account holder or to third parties in such manner and in accordance with such procedures as may be established by the board of directors.

C.Shares and share accounts shall be subject to any withdrawal notice requirement that may be imposed pursuant to the credit union bylaws.

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A. Every credit union may issue shares to and maintain share accounts for any member qualified pursuant to the credit union's bylaws.

B. Shares and share accounts may be withdrawn for payment to the account holder or to third parties in such manner and in accordance with such procedures as may be established by the board of directors.

C. Shares and share accounts shall be subject to any withdrawal notice requirement that may be imposed pursuant to the credit union bylaws.