Industrial Loan Associations

This is the 2026 edition of the code. This is the current edition. It was last updated Aug 02, 2026. Browse all editions.

This is Chapter 14 of the Code of Virginia, titled “Industrial Loan Associations.” It is part of Subtitle III “Other Regulated Providers of Financial Services”, which is part of Title 6.2 “Financial Institutions and Services”. It contains 22 laws.

It’s comprised of the following 22 sections.

§ 6.2-1400	Definitions
§ 6.2-1401	Powers of associations
§ 6.2-1402	Use of certain words in name prohibited
§ 6.2-1403	Directors
§ 6.2-1404	Commission may regulate issuance of evidences of debt
§ 6.2-1405	Extent to which associations regarded as banks; conversion of certain associations to banks; new associations not authorized
§ 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
§ 6.2-1409	Prepayment by borrower from association; rebates for unearned interest; prepayment penalty
§ 6.2-1410	Amount of loan
§ 6.2-1411	Retention of books, accounts, and records
§ 6.2-1412	Annual report
§ 6.2-1413	Investigations; examinations
§ 6.2-1414	Annual fees
§ 6.2-1415	Regulations
§ 6.2-1416	Prohibited practices
§ 6.2-1417	Escrow accounts
§ 6.2-1418	Suspension or revocation of authority
§ 6.2-1419	Cease and desist orders
§ 6.2-1420	Notice of proposed suspension or revocation
§ 6.2-1421	Civil penalties