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Current as of January 01, 2020 | Updated by FindLaw Staff
A. An association that had no certificates of investment issued and outstanding on January 1, 1959, may not sell certificates of investment.
B. An association that had certificates of investment issued and outstanding on January 1, 1959, may sell certificates of investment upon either the fully paid or partial payment system. Any such association that did not obtain insurance of its liability for such certificates, through either a state or federal agency, up to the limits of insurance provided thereby prior to July 1, 1975, shall not sell such certificates after such date.
Cite this article: FindLaw.com - Virginia Code Title 6.2. Financial Institutions and Services § 6.2-1406. Sale of certificates of investment by certain associations prohibited - last updated January 01, 2020 | https://codes.findlaw.com/va/title-6-2-financial-institutions-and-services/va-code-sect-6-2-1406/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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