6.1-225.56 - (Repealed effective October 1, 2010) Cooperative loans. - Virginia Statutes

§ 6.1-225.56. (Repealed effective October 1, 2010) Cooperative loans.

A credit union may originate loans to credit union members jointly with othercredit unions, credit union organizations, or other financial institutionspursuant to written policies established by the board of directors whichshall include the limitation set forth in § 6.1-225.53. A credit union whichoriginates such a loan shall retain at least a ten percent interest in suchloan.

(1990, c. 373.)