Section 80. Loan participations

Latest version.

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.

Historical Notes

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

Statutory Authority

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

                    
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