6.2-1303 - (Effective October 1, 2010) Regulations. - Virginia Statutes

§ 6.2-1303. (Effective October 1, 2010) Regulations.

A. The Commission may adopt regulations to implement the provisions of thischapter.

B. In addition to the powers specifically granted to state chartered creditunions by the provisions of this chapter, the Commission may adopt suchregulations as may be necessary to permit state chartered credit unions tohave powers at least comparable with those of federally chartered creditunions or to effect the purposes of this chapter, regardless of any thenexisting statute, regulation or court decision limiting or denying suchpowers to state chartered credit unions. The requirement of a public hearingshall not automatically apply to regulations adopted under this subsection,but the Commission may hold such hearings as it deems appropriate.

C. Before adopting any regulation under this chapter, the Commission shallgive reasonable notice of its content and shall afford interested parties anopportunity to present evidence and be heard, in accordance with theCommission's Rules.

(1975, c. 34, § 6.1-200.2; 1988, c. 309; 1990, c. 373, §§ 6.1-225.3,6.1-225.22; 1997, c. 111, § 6.1-225.3:1; 2010, c. 794.)