Code of Virginia § 6.2-1332. Insurance of shares.
70 words·~1 min read·
/va/title-6-2/chapter-13/6-2-1332·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every credit union authorized to do business in the Commonwealth shall insure its members' shares with an approved insuring organization. A credit union that has been denied a commitment for insurance or fails to maintain insurance upon its shares shall either dissolve or merge with another credit union that is insured by such an insuring organization.
1974, c. 116, § 6.1-200.1; 1990, c. 373, § 6.1-225.26; 2010, c. 794 .