{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1108.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1108.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1108.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1108.html"}],"law_id":373634,"edition_id":2,"section_id":373634,"structure_id":53166,"section_number":"6.2-1108","catch_line":"Membership in Federal Home Loan Bank and Federal Deposit Insurance Corporation authorized; insurance required as a condition to receiving deposits; representations that accounts are insured; misleading advertisements","history":"Code 1950, \u00a7\u00a7 6-201.2, 6-201.20; 1960, c. 402; 1966, c. 584, \u00a7\u00a7 6.1-127, 6.1-146; 1972, c. 796, \u00a7\u00a7 6.1-195.2, 6.1-195.20; 1974, c. 565; 1985, c. 425, \u00a7\u00a7 6.1-194.3, 6.1-194.91; 1986, cc. 500, 509; 1990, c. 3; 2010, c. 794.","full_text":"A\n\nA savings institution may become a member of the Federal Home Loan Bank and the Federal Deposit Insurance Corporation or other federal insurance agency and conform to the provisions and regulations thereof.\n\nB\n\nAny savings institution doing business in the Commonwealth that does not have its accounts insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby, shall not accept any deposits.\n\n","order_by":null,"text":{"0":{"id":1394460,"text":"A savings institution may become a member of the Federal Home Loan Bank and the Federal Deposit Insurance Corporation or other federal insurance agency and conform to the provisions and regulations thereof.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1394461,"text":"Any savings institution doing business in the Commonwealth that does not have its accounts insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby, shall not accept any deposits.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":53166,"edition_id":2,"name":"General Provisions","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":53165,"metadata":{"child_laws":14,"child_structures":0},"date_created":"2026-08-02 03:11:54","date_modified":"2026-08-02 12:28:02","permalink":{"id":1491105,"object_type":"structure","relational_id":53166,"identifier":"1","token":"6.2\/II\/11\/1","url":"\/6.2\/II\/11\/1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53165,"edition_id":2,"name":"Savings Institutions","identifier":"11","label":"chapter","depth":3,"order_by":5,"parent_id":53156,"metadata":{"child_laws":106,"child_structures":9},"date_created":"2026-08-02 03:11:54","date_modified":"2026-08-02 12:28:02","permalink":{"id":1491103,"object_type":"structure","relational_id":53165,"identifier":"11","token":"6.2\/II\/11","url":"\/6.2\/II\/11\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53156,"edition_id":2,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":53152,"metadata":{"child_laws":483,"child_structures":51},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490687,"object_type":"structure","relational_id":53156,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373626,"structure_id":53166,"section_number":"6.2-1100","catch_line":"Definitions","url":"\/6.2-1100\/","token":"6.2\/II\/11\/1\/6.2-1100","metadata":false},{"id":373627,"structure_id":53166,"section_number":"6.2-1101","catch_line":"Construction and application of chapter","url":"\/6.2-1101\/","token":"6.2\/II\/11\/1\/6.2-1101","metadata":{"court_decisions":""}},{"id":373628,"structure_id":53166,"section_number":"6.2-1102","catch_line":"Associations operating share accumulation loan plans; continued operation","url":"\/6.2-1102\/","token":"6.2\/II\/11\/1\/6.2-1102","metadata":false},{"id":373629,"structure_id":53166,"section_number":"6.2-1103","catch_line":"Prohibitions on conduct of savings institution business; exceptions; penalty","url":"\/6.2-1103\/","token":"6.2\/II\/11\/1\/6.2-1103","metadata":false},{"id":373630,"structure_id":53166,"section_number":"6.2-1104","catch_line":"False statements and similar actions prohibited; penalty","url":"\/6.2-1104\/","token":"6.2\/II\/11\/1\/6.2-1104","metadata":false},{"id":373631,"structure_id":53166,"section_number":"6.2-1105","catch_line":"Use of savings institution name, logo, or symbol for marketing purposes; penalty","url":"\/6.2-1105\/","token":"6.2\/II\/11\/1\/6.2-1105","metadata":false},{"id":373632,"structure_id":53166,"section_number":"6.2-1106","catch_line":"Prohibitions on the use of certain terms; exceptions; penalty","url":"\/6.2-1106\/","token":"6.2\/II\/11\/1\/6.2-1106","metadata":false},{"id":373633,"structure_id":53166,"section_number":"6.2-1107","catch_line":"Defamation of savings institutions and certain federal agencies prohibited; penalty","url":"\/6.2-1107\/","token":"6.2\/II\/11\/1\/6.2-1107","metadata":false},{"id":373634,"structure_id":53166,"section_number":"6.2-1108","catch_line":"Membership in Federal Home Loan Bank and Federal Deposit Insurance Corporation authorized; insurance required as a condition to receiving deposits; representations that accounts are insured; misleading advertisements","url":"\/6.2-1108\/","token":"6.2\/II\/11\/1\/6.2-1108","metadata":false},{"id":373635,"structure_id":53166,"section_number":"6.2-1109","catch_line":"Representations that accounts are insured; misleading advertisements","url":"\/6.2-1109\/","token":"6.2\/II\/11\/1\/6.2-1109","metadata":false},{"id":373636,"structure_id":53166,"section_number":"6.2-1110","catch_line":"Membership in facilitating organizations or instrumentalities","url":"\/6.2-1110\/","token":"6.2\/II\/11\/1\/6.2-1110","metadata":false},{"id":373637,"structure_id":53166,"section_number":"6.2-1111","catch_line":"Authority to purchase, convey or manage property in which state savings institution has a security interest; time limitation","url":"\/6.2-1111\/","token":"6.2\/II\/11\/1\/6.2-1111","metadata":false},{"id":373638,"structure_id":53166,"section_number":"6.2-1112","catch_line":"Applicability of Virginia Uniform Commercial Code to commercial paper and depository activities of savings institutions","url":"\/6.2-1112\/","token":"6.2\/II\/11\/1\/6.2-1112","metadata":false},{"id":373639,"structure_id":53166,"section_number":"6.2-1113","catch_line":"Discoverability or admissibility of compliance review committee documents","url":"\/6.2-1113\/","token":"6.2\/II\/11\/1\/6.2-1113","metadata":false}],"previous_section":{"id":373633,"structure_id":53166,"section_number":"6.2-1107","catch_line":"Defamation of savings institutions and certain federal agencies prohibited; penalty","url":"\/6.2-1107\/","token":"6.2\/II\/11\/1\/6.2-1107","metadata":false},"next_section":{"id":373635,"structure_id":53166,"section_number":"6.2-1109","catch_line":"Representations that accounts are insured; misleading advertisements","url":"\/6.2-1109\/","token":"6.2\/II\/11\/1\/6.2-1109","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1108\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 8 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1960, chapter 402; in 1966, chapter 584; in 1972, chapter 796; in 1974, chapter 565; in 1985, chapter 425; in 1986, chapters 500 and 509; in 1990, chapter 3; in 2010, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?101+ful+CHAP0794\">794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1491139,"object_type":"law","relational_id":373634,"identifier":"6.2-1108","token":"6.2\/II\/11\/1\/6.2-1108","url":"\/6.2-1108\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1108\/","token":"6.2\/II\/11\/1\/6.2-1108","dublin_core":{"Title":"Membership in Federal Home Loan Bank and Federal Deposit Insurance Corporation authorized; insurance required as a condition to receiving deposits; representations that accounts are insured; misleading advertisements","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1108","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> A <span class=\"dictionary\">savings institution<\/span> may become a <span class=\"dictionary\">member<\/span> of the Federal <span class=\"dictionary\">Home Loan<\/span> Bank and the Federal Deposit Insurance Corporation or other federal insurance agency and conform to the provisions and regulations thereof. <a id=\"paragraph-1394460\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1108\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> Any <span class=\"dictionary\">savings institution<\/span> doing business in the Commonwealth that does not have its <span class=\"dictionary\">accounts<\/span> insured by the Federal Deposit Insurance Corporation or other federal insurance agency, up to the limits of the insurance provided thereby, shall not accept any deposits. <a id=\"paragraph-1394461\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/6.2-1108\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nMEMBERSHIP IN FEDERAL HOME LOAN BANK AND FEDERAL DEPOSIT INSURANCE CORPORATION\nAUTHORIZED; INSURANCE REQUIRED AS A CONDITION TO RECEIVING DEPOSITS;\nREPRESENTATIONS THAT ACCOUNTS ARE INSURED; MISLEADING ADVERTISEMENTS (\u00a7\n6.2-1108)\n\nA. A savings institution may become a member of the Federal Home Loan Bank and\nthe Federal Deposit Insurance Corporation or other federal insurance agency and\nconform to the provisions and regulations thereof.\n\nB. Any savings institution doing business in the Commonwealth that does not have\nits accounts insured by the Federal Deposit Insurance Corporation or other\nfederal insurance agency, up to the limits of the insurance provided thereby,\nshall not accept any deposits.\n\nHISTORY: Code 1950, \u00a7\u00a7 6-201.2, 6-201.20; 1960, c. 402; 1966, c. 584, \u00a7\u00a7\n6.1-127, 6.1-146; 1972, c. 796, \u00a7\u00a7 6.1-195.2, 6.1-195.20; 1974, c. 565; 1985,\nc. 425, \u00a7\u00a7 6.1-194.3, 6.1-194.91; 1986, cc. 500, 509; 1990, c. 3; 2010, c.\n794.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}