6.2-1323 - (Effective October 1, 2010) Amendments to articles of incorporation and bylaws. - Virginia Statutes

§ 6.2-1323. (Effective October 1, 2010) Amendments to articles ofincorporation and bylaws.

The articles of incorporation or the bylaws of a credit union may be amendedas provided in the articles and bylaws, as the case may be, subject to §§13.1-886, 13.1-892, and 13.1-893. Amendments to the articles of incorporationshall be accomplished as provided in §§ 13.1-888 and 13.1-889. Proposedamendments to bylaws shall be submitted to the Commissioner, who shallapprove or disapprove proposed amendments within 30 days. A bylaw amendmentshall be effective upon its approval by the Commissioner. No amendment to thearticles of incorporation or bylaws that would expand the field of membershipof a credit union shall be effective until such amendment has been approvedby the Commissioner. When any such change in bylaws or articles ofincorporation is proposed, the Commissioner may extend the period forapproval as he may deem necessary for as much as an additional 30 days.

(Code 1950, § 6-208; 1966, c. 584, § 6.1-199; 1990, c. 373, § 6.1-225.16;1999, c. 63; 2010, c. 794.)