CODE OF VIRGINIA

ASCERTAINING VALUE OF ASSETS (§ 6.2-1361)

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.