6.2-1374 - (Effective October 1, 2010) Lines of credit. - Virginia Statutes

§ 6.2-1374. (Effective October 1, 2010) Lines of credit.

Notwithstanding the requirements of § 6.2-1354, the credit committee or aloan officer may approve an application for a line of credit. When a line ofcredit has been approved, advances may be made as requested without furtherloan application or approval if the aggregate outstanding balance on alladvances does not exceed the limit specified.

(1976, c. 204, § 6.1-212.1; 1986, c. 147; 1990, c. 373, § 6.1-225.55; 2010,c. 794.)