6.2-1309 - (Effective October 1, 2010) Examinations. - Virginia Statutes

§ 6.2-1309. (Effective October 1, 2010) Examinations.

A. Each credit union shall be examined as often as the Commission deems thatan examination is in the interest of its members, provided that anexamination shall be conducted at least twice in every three-year period. Theexaminers shall be given free access to all books, papers, securities, andother sources of information in respect to the credit union. For the purposeof making an examination, the Commission may subpoena and examine personallywitnesses under oath, whether such witnesses are members of the credit unionor not, and may require the production of any documents, whether suchdocuments are documents of the credit union or not.

B. All expenses incident to any special examination which may be necessaryshall be paid by the credit union so examined.

(Code 1950, § 6-230; 1956, c. 176; 1966, c. 584, § 6.1-221; 1976, c. 658;1981, c. 521; 1990, c. 373, § 6.1-225.4; 2010, c. 794.)