No loan made by an association shall be made for a greater amount in the aggregate to any person than 20 percent of the paid-in capital stock and capital surplus of the association.
Code 1950, §§ 6-250, 6-253, 6-254; 1952, c. 70; 1956, c. 433; 1966, c. 584, § 6.1-234; 1968, c. 754; 1975, c. 448; 1981, c. 56; 2010, c. 794.
Structure Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 14 - Industrial Loan Associations
§ 6.2-1401. Powers of associations
§ 6.2-1402. Use of certain words in name prohibited
§ 6.2-1404. Commission may regulate issuance of evidences of debt
§ 6.2-1406. Sale of certificates of investment by certain associations prohibited
§ 6.2-1407. Prohibitions on associations with certificates issued and outstanding; advertisements
§ 6.2-1408. Associations to have one office; how office moved
§ 6.2-1411. Retention of books, accounts, and records
§ 6.2-1413. Investigations; examinations
§ 6.2-1416. Prohibited practices
§ 6.2-1418. Suspension or revocation of authority
§ 6.2-1419. Cease and desist orders