Virginia § 6.2-1361 - Ascertaining value of assets
Full text of Virginia Code of Virginia § 6.2-1361 — Ascertaining value of assets, with citation guidance and answers to common questions.
§ 6.2-1361. Ascertaining value of assets
In ascertaining the value of the assets of a credit union:
1. A loan delinquent for more than two but less than six months shall be valued at 90 percent of the unpaid balance;
2. A loan delinquent for six months but less than 12 months shall be valued at 75 percent of the unpaid balance; and
3. A loan delinquent for 12 months or more shall be treated as of no value.
Code 1950, § 6-228; 1964, c. 75; 1966, c. 584, § 6.1-219; 1968, c. 560; 1976, c. 202; 1990, c. 373, § 6.1-225.44; 2010, c. 794.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-1361
What does Code of Virginia § 6.2-1361 cover?
Section 6.2-1361 ("Ascertaining value of assets") 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 § 6.2-1361?
A common citation format is "Code of Virginia § 6.2-1361" (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 § 6.2-1361 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.