State Codes and Statutes
Statutes > Virginia > Title-6-1 > Chapter-4-01 > 6-1-225-42§ 6.1-225.42. (Repealed effective October 1, 2010) Payment for shares;transfers; lien on shares.
Shares shall be paid for in money. Shares may be subscribed to, paid for,and transferred in such manner as the bylaws prescribe. The credit unionshall have a lien on the shares, including share accounts of a member in hisindividual, joint, or trust accounts and upon any dividends payable thereonas security for all debts and obligations owed by, and for any loan endorsedby, such member to the credit union.
(Code 1950, § 6-214; 1956, c. 90; 1966, c. 584, § 6.1-206; 1968, c. 560;1975, c. 33; 1990, c. 373.)
