Administrative Code

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Virginia Administrative Code
Title 10. Finance and Financial Institutions
Agency 5. State Corporation Commission
Chapter 40. Credit Unions
4/20/2019

10VAC5-40-80. Loan Participations.

Notwithstanding any provision of Chapter 13 (§ 6.2-1300 et seq.) of Title 6.2 of the Code of Virginia relating to loan participations or cooperative loans, a state-chartered credit union may purchase a participation interest in a loan to the same extent, and subject to the same terms and conditions, as is authorized for federal credit unions under 12 CFR 701.22.

Statutory Authority

§§ 6.2-1303 and 12.1-13 of the Code of Virginia.

Historical Notes

Derived from Volume 30, Issue 10, eff. January 1, 2014.

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