Virginia § 6.2-1341 - Audit by corporation and corrective measures; appeal
Full text of Virginia Code of Virginia § 6.2-1341 — Audit by corporation and corrective measures; appeal, with citation guidance and answers to common questions.
§ 6.2-1341. Audit by corporation and corrective measures; appeal
A. A corporation may require independent audits and investigations of any member credit union to ascertain its financial condition as it relates to share insurance.
B. If the directors of a corporation ascertain evidence of carelessness, unsound practices, or mismanagement of any member credit union that appears to adversely affect the solvency or liquidity of the credit union or threaten loss to the corporation, the directors shall notify the Commission and may order that corrective action be taken or, after due notice and hearing, as provided in the bylaws, revoke the credit union's membership in the corporation.
C. If a member credit union is aggrieved by any decision, action, or order of the corporation, it may appeal the decision, action, or order to the Commission. The Commission may modify, reverse, or affirm such decision, action, or order.
1974, c. 587, § 6.1-226.11; 2010, c. 794.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-1341
What does Code of Virginia § 6.2-1341 cover?
Section 6.2-1341 ("Audit by corporation and corrective measures; appeal") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 6.2-1341?
A common citation format is "Code of Virginia § 6.2-1341" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 6.2-1341 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.