6.2-1359 - (Effective October 1, 2010) Payment for shares; transfers; lien on shares.
§ 6.2-1359. (Effective October 1, 2010) Payment for shares; transfers; lienon shares.
Shares shall be paid for in money. Shares may be subscribed to, paid for, andtransferred in such manner as the bylaws prescribe. The credit union shallhave 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, § 6.1-225.42; 2010, c. 794.)