{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1361.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1361.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1361.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1361.html"}],"law_id":373795,"edition_id":2,"section_id":373795,"structure_id":53183,"section_number":"6.2-1361","catch_line":"Ascertaining value of assets","history":"Code 1950, \u00a7 6-228; 1964, c. 75; 1966, c. 584, \u00a7 6.1-219; 1968, c. 560; 1976, c. 202; 1990, c. 373, \u00a7 6.1-225.44; 2010, c. 794.","full_text":"In ascertaining the value of the assets of a credit union:\n\n1\n\nA loan delinquent for more than two but less than six months shall be valued at 90 percent of the unpaid balance;\n\n2\n\nA loan delinquent for six months but less than 12 months shall be valued at 75 percent of the unpaid balance; and\n\n3\n\nA loan delinquent for 12 months or more shall be treated as of no value.\n\n","order_by":null,"text":{"0":{"id":1395117,"text":"In ascertaining the value of the assets of a credit union:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1395118,"text":"A loan delinquent for more than two but less than six months shall be valued at 90 percent of the unpaid balance;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1395119,"text":"A loan delinquent for six months but less than 12 months shall be valued at 75 percent of the unpaid balance; and","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":1395120,"text":"A loan delinquent for 12 months or more shall be treated as of no value.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":53183,"edition_id":2,"name":"Accounts","identifier":"8","label":"article","depth":4,"order_by":8,"parent_id":53175,"metadata":{"child_laws":12,"child_structures":0},"date_created":"2026-08-02 03:12:15","date_modified":"2026-08-02 12:28:06","permalink":{"id":1491823,"object_type":"structure","relational_id":53183,"identifier":"8","token":"6.2\/II\/13\/8","url":"\/6.2\/II\/13\/8\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53175,"edition_id":2,"name":"Credit Unions","identifier":"13","label":"chapter","depth":3,"order_by":6,"parent_id":53156,"metadata":{"child_laws":83,"child_structures":11},"date_created":"2026-08-02 03:12:08","date_modified":"2026-08-02 12:28:04","permalink":{"id":1491547,"object_type":"structure","relational_id":53175,"identifier":"13","token":"6.2\/II\/13","url":"\/6.2\/II\/13\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53156,"edition_id":2,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":53152,"metadata":{"child_laws":483,"child_structures":51},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490687,"object_type":"structure","relational_id":53156,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373792,"structure_id":53183,"section_number":"6.2-1358","catch_line":"Share accounts","url":"\/6.2-1358\/","token":"6.2\/II\/13\/8\/6.2-1358","metadata":false},{"id":373793,"structure_id":53183,"section_number":"6.2-1359","catch_line":"Payment for shares; transfers; lien on shares","url":"\/6.2-1359\/","token":"6.2\/II\/13\/8\/6.2-1359","metadata":false},{"id":373794,"structure_id":53183,"section_number":"6.2-1360","catch_line":"Dividends","url":"\/6.2-1360\/","token":"6.2\/II\/13\/8\/6.2-1360","metadata":false},{"id":373795,"structure_id":53183,"section_number":"6.2-1361","catch_line":"Ascertaining value of assets","url":"\/6.2-1361\/","token":"6.2\/II\/13\/8\/6.2-1361","metadata":false},{"id":373796,"structure_id":53183,"section_number":"6.2-1362","catch_line":"Minors' accounts","url":"\/6.2-1362\/","token":"6.2\/II\/13\/8\/6.2-1362","metadata":false},{"id":373797,"structure_id":53183,"section_number":"6.2-1363","catch_line":"Individual retirement accounts and retirement or pension plans","url":"\/6.2-1363\/","token":"6.2\/II\/13\/8\/6.2-1363","metadata":false},{"id":373798,"structure_id":53183,"section_number":"6.2-1364","catch_line":"Acceptance of money under Virginia Uniform Transfers to Minors Act","url":"\/6.2-1364\/","token":"6.2\/II\/13\/8\/6.2-1364","metadata":false},{"id":373799,"structure_id":53183,"section_number":"6.2-1365","catch_line":"Accounts of deceased or incapacitated person","url":"\/6.2-1365\/","token":"6.2\/II\/13\/8\/6.2-1365","metadata":false},{"id":373800,"structure_id":53183,"section_number":"6.2-1366","catch_line":"Repealed","url":"\/6.2-1366\/","token":"6.2\/II\/13\/8\/6.2-1366","metadata":false},{"id":373801,"structure_id":53183,"section_number":"6.2-1367","catch_line":"Application of provisions to federal credit unions","url":"\/6.2-1367\/","token":"6.2\/II\/13\/8\/6.2-1367","metadata":false},{"id":373802,"structure_id":53183,"section_number":"6.2-1368","catch_line":"Accounts of fiduciaries","url":"\/6.2-1368\/","token":"6.2\/II\/13\/8\/6.2-1368","metadata":false},{"id":373803,"structure_id":53183,"section_number":"6.2-1369","catch_line":"Credit union need not inquire as to fiduciary funds used to purchase shares in fiduciary's personal account","url":"\/6.2-1369\/","token":"6.2\/II\/13\/8\/6.2-1369","metadata":false}],"previous_section":{"id":373794,"structure_id":53183,"section_number":"6.2-1360","catch_line":"Dividends","url":"\/6.2-1360\/","token":"6.2\/II\/13\/8\/6.2-1360","metadata":false},"next_section":{"id":373796,"structure_id":53183,"section_number":"6.2-1362","catch_line":"Minors' accounts","url":"\/6.2-1362\/","token":"6.2\/II\/13\/8\/6.2-1362","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1361\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 6 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1964, chapter 75; in 1966, chapter 584; in 1968, chapter 560; in 1976, chapter 202; in 1990, chapter 373; in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1491837,"object_type":"law","relational_id":373795,"identifier":"6.2-1361","token":"6.2\/II\/13\/8\/6.2-1361","url":"\/6.2-1361\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1361\/","token":"6.2\/II\/13\/8\/6.2-1361","dublin_core":{"Title":"Ascertaining value of assets","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1361","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>In ascertaining the value of the <span class=\"dictionary\">assets<\/span> of a <span class=\"dictionary\">credit union<\/span>:<\/p><\/section>\n\t\t\t\t\t\t<section id=\"1\"><p><span class=\"prefix-number\">1.<\/span> A loan delinquent for more than two but less than six months shall be valued at 90 percent of the unpaid balance; <a id=\"paragraph-1395118\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1361\/#1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"2\"><p><span class=\"prefix-number\">2.<\/span> A loan delinquent for six months but less than 12 months shall be valued at 75 percent of the unpaid balance; and <a id=\"paragraph-1395119\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1361\/#2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"3\"><p><span class=\"prefix-number\">3.<\/span> A loan delinquent for 12 months or more shall be treated as of no value. <a id=\"paragraph-1395120\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1361\/#3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nASCERTAINING VALUE OF ASSETS (\u00a7 6.2-1361)\n\nIn ascertaining the value of the assets of a credit union:\n\n1. A loan delinquent for more than two but less than six months shall be valued\nat 90 percent of the unpaid balance;\n\n2. A loan delinquent for six months but less than 12 months shall be valued at\n75 percent of the unpaid balance; and\n\n3. A loan delinquent for 12 months or more shall be treated as of no value.\n\nHISTORY: Code 1950, \u00a7 6-228; 1964, c. 75; 1966, c. 584, \u00a7 6.1-219; 1968, c.\n560; 1976, c. 202; 1990, c. 373, \u00a7 6.1-225.44; 2010, c. 794.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}