In ascertaining the value of the assets of a credit union:
1. A loan delinquent for more than two but less than six months shall be valued at 90 percent of the unpaid balance;
2. A loan delinquent for six months but less than 12 months shall be valued at 75 percent of the unpaid balance; and
3. A loan delinquent for 12 months or more shall be treated as of no value.
History
Code 1950, § 6-228; 1964, c. 75; 1966, c. 584, § 6.1-219; 1968, c. 560; 1976, c. 202; 1990, c. 373, § 6.1-225.44; 2010, c. 794.
