6.2-1361 - (Effective October 1, 2010) Ascertaining value of assets. - Virginia Statutes

§ 6.2-1361. (Effective October 1, 2010) Ascertaining value of assets.

In ascertaining the value of the assets of a credit union:

1. A loan delinquent for more than two but less than six months shall bevalued at 90 percent of the unpaid balance;

2. A loan delinquent for six months but less than 12 months shall be valuedat 75 percent of the unpaid balance; and

3. A loan delinquent for 12 months or more shall be treated as of no value.

(Code 1950, § 6-228; 1964, c. 75; 1966, c. 584, § 6.1-219; 1968, c. 560;1976, c. 202; 1990, c. 373, § 6.1-225.44; 2010, c. 794.)