{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-319.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-319.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-319.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-319.html"}],"law_id":374218,"edition_id":2,"section_id":374218,"structure_id":53212,"section_number":"6.2-319","catch_line":"Loans by pension plans to participants","history":"1987, c. 622, \u00a7 6.1-330.67; 2010, c. 794.","full_text":"A\n\nAs used in this section, “pension plan” includes an “employee pension benefit plan” or “pension plan” as defined in § 3(2) of the federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829).\n\nB\n\nLoans by a pension plan to an individual participating in the pension plan shall be lawfully enforced as agreed in the contract of indebtedness. No such participating individual, by way of defense or otherwise, shall avail himself of the provisions of this chapter, or any other law relating to interest or usury, to avoid or defeat the payment of interest or any other sum on any loan made by the pension plan. Nothing contained in any law relating to interest or usury shall be construed to prevent the recovery of such interest or other sum though it is more than otherwise lawful interest and though that fact appears on the face of the contract.\n\n","order_by":null,"text":{"0":{"id":1397022,"text":"As used in this section, “pension plan” includes an “employee pension benefit plan” or “pension plan” as defined in § 3(2) of the federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829).","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1397023,"text":"Loans by a pension plan to an individual participating in the pension plan shall be lawfully enforced as agreed in the contract of indebtedness. No such participating individual, by way of defense or otherwise, shall avail himself of the provisions of this chapter, or any other law relating to interest or usury, to avoid or defeat the payment of interest or any other sum on any loan made by the pension plan. Nothing contained in any law relating to interest or usury shall be construed to prevent the recovery of such interest or other sum though it is more than otherwise lawful interest and though that fact appears on the face of the contract.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":53212,"edition_id":2,"name":"Loans Exempt From Limit on Contract Rate of Interest","identifier":"4","label":"article","depth":4,"order_by":4,"parent_id":53208,"metadata":{"child_laws":21,"child_structures":0},"date_created":"2026-08-02 03:13:09","date_modified":"2026-08-02 12:27:55","permalink":{"id":1490379,"object_type":"structure","relational_id":53212,"identifier":"4","token":"6.2\/I\/3\/4","url":"\/6.2\/I\/3\/4\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53208,"edition_id":2,"name":"Interest and Usury","identifier":"3","label":"chapter","depth":3,"order_by":3,"parent_id":53153,"metadata":{"child_laws":30,"child_structures":4},"date_created":"2026-08-02 03:13:07","date_modified":"2026-08-02 12:27:55","permalink":{"id":1490335,"object_type":"structure","relational_id":53208,"identifier":"3","token":"6.2\/I\/3","url":"\/6.2\/I\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53153,"edition_id":2,"name":"General Provisions","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":53152,"metadata":{"child_laws":99,"child_structures":18},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:54","permalink":{"id":1490253,"object_type":"structure","relational_id":53153,"identifier":"I","token":"6.2\/I","url":"\/6.2\/I\/","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":374208,"structure_id":53212,"section_number":"6.2-309","catch_line":"Charges by banks and savings institutions on installment loans","url":"\/6.2-309\/","token":"6.2\/I\/3\/4\/6.2-309","metadata":false},{"id":374209,"structure_id":53212,"section_number":"6.2-310","catch_line":"Rate of interest chargeable by state banks and savings institutions","url":"\/6.2-310\/","token":"6.2\/I\/3\/4\/6.2-310","metadata":false},{"id":374210,"structure_id":53212,"section_number":"6.2-311","catch_line":"Closed-end installment loans by sellers of goods or services","url":"\/6.2-311\/","token":"6.2\/I\/3\/4\/6.2-311","metadata":false},{"id":374211,"structure_id":53212,"section_number":"6.2-312","catch_line":"Open-end credit plans","url":"\/6.2-312\/","token":"6.2\/I\/3\/4\/6.2-312","metadata":false},{"id":374212,"structure_id":53212,"section_number":"6.2-313","catch_line":"Open-end credit extended by banks or savings institutions","url":"\/6.2-313\/","token":"6.2\/I\/3\/4\/6.2-313","metadata":false},{"id":374213,"structure_id":53212,"section_number":"6.2-314","catch_line":"Motor vehicle purchase loans by subsidiaries and affiliates of banks and savings institutions","url":"\/6.2-314\/","token":"6.2\/I\/3\/4\/6.2-314","metadata":false},{"id":374214,"structure_id":53212,"section_number":"6.2-315","catch_line":"Loans by certain financial institutions or brokers payable on demand or having a term up to one year","url":"\/6.2-315\/","token":"6.2\/I\/3\/4\/6.2-315","metadata":false},{"id":374215,"structure_id":53212,"section_number":"6.2-316","catch_line":"Loans of $5,000 or more made by certain financial institutions","url":"\/6.2-316\/","token":"6.2\/I\/3\/4\/6.2-316","metadata":false},{"id":374216,"structure_id":53212,"section_number":"6.2-317","catch_line":"Loans of $5,000 or more for business or investment purposes","url":"\/6.2-317\/","token":"6.2\/I\/3\/4\/6.2-317","metadata":false},{"id":374217,"structure_id":53212,"section_number":"6.2-318","catch_line":"Loans by credit unions","url":"\/6.2-318\/","token":"6.2\/I\/3\/4\/6.2-318","metadata":false},{"id":374218,"structure_id":53212,"section_number":"6.2-319","catch_line":"Loans by pension plans to participants","url":"\/6.2-319\/","token":"6.2\/I\/3\/4\/6.2-319","metadata":false},{"id":374219,"structure_id":53212,"section_number":"6.2-320","catch_line":"Loans by industrial loan associations","url":"\/6.2-320\/","token":"6.2\/I\/3\/4\/6.2-320","metadata":false},{"id":374220,"structure_id":53212,"section_number":"6.2-321","catch_line":"Loans pursuant to stock option financing programs","url":"\/6.2-321\/","token":"6.2\/I\/3\/4\/6.2-321","metadata":false},{"id":374221,"structure_id":53212,"section_number":"6.2-322","catch_line":"Extensions of credit on pledged securities","url":"\/6.2-322\/","token":"6.2\/I\/3\/4\/6.2-322","metadata":false},{"id":374222,"structure_id":53212,"section_number":"6.2-323","catch_line":"Educational loans by banks or savings institutions","url":"\/6.2-323\/","token":"6.2\/I\/3\/4\/6.2-323","metadata":false},{"id":374223,"structure_id":53212,"section_number":"6.2-324","catch_line":"Educational loans by private institution of higher education","url":"\/6.2-324\/","token":"6.2\/I\/3\/4\/6.2-324","metadata":false},{"id":374224,"structure_id":53212,"section_number":"6.2-325","catch_line":"Certain loans secured by first deed of trust or mortgage","url":"\/6.2-325\/","token":"6.2\/I\/3\/4\/6.2-325","metadata":false},{"id":374225,"structure_id":53212,"section_number":"6.2-326","catch_line":"Fees and charges in connection with loans by real estate lenders","url":"\/6.2-326\/","token":"6.2\/I\/3\/4\/6.2-326","metadata":false},{"id":374226,"structure_id":53212,"section_number":"6.2-327","catch_line":"Certain loans secured by a subordinate deed of trust or mortgage","url":"\/6.2-327\/","token":"6.2\/I\/3\/4\/6.2-327","metadata":false},{"id":374227,"structure_id":53212,"section_number":"6.2-328","catch_line":"Charges allowed on loan secured by subordinate mortgage","url":"\/6.2-328\/","token":"6.2\/I\/3\/4\/6.2-328","metadata":false},{"id":374228,"structure_id":53212,"section_number":"6.2-329","catch_line":"Loans insured or guaranteed by certain governmental agencies","url":"\/6.2-329\/","token":"6.2\/I\/3\/4\/6.2-329","metadata":false}],"previous_section":{"id":374217,"structure_id":53212,"section_number":"6.2-318","catch_line":"Loans by credit unions","url":"\/6.2-318\/","token":"6.2\/I\/3\/4\/6.2-318","metadata":false},"next_section":{"id":374219,"structure_id":53212,"section_number":"6.2-320","catch_line":"Loans by industrial loan associations","url":"\/6.2-320\/","token":"6.2\/I\/3\/4\/6.2-320","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-319\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 622 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1490421,"object_type":"law","relational_id":374218,"identifier":"6.2-319","token":"6.2\/I\/3\/4\/6.2-319","url":"\/6.2-319\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-319\/","token":"6.2\/I\/3\/4\/6.2-319","dublin_core":{"Title":"Loans by pension plans to participants","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-319","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section, “pension plan<\/span>” includes an “employee pension benefit plan<\/span>” or “pension plan<\/span>” as defined in § 3(2) of the federal Employee Retirement Income Security Act of 1974 (P.L. 93-406, 88 Stat. 829). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Loans<\/span> by a pension plan<\/span> to an individual participating in the pension plan<\/span> shall be lawfully enforced as agreed in the contract<\/span> of indebtedness. No such participating individual, by way of defense or otherwise, shall avail himself of the provisions of this chapter, or any other law<\/span> relating to interest or usury, to avoid or defeat the payment of interest or any other sum on any loan<\/span> made by the pension plan<\/span>. Nothing contained in any law<\/span> relating to interest or usury shall be construed to prevent the recovery of such interest or other sum though it is more than otherwise lawful interest and though that fact<\/span> appears on the face of the contract<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLOANS BY PENSION PLANS TO PARTICIPANTS (\u00a7 6.2-319)\n\nA. As used in this section, “pension plan” includes an\n“employee pension benefit plan” or “pension plan” as\ndefined in § 3(2) of the federal Employee Retirement Income Security Act of\n1974 (P.L. 93-406, 88 Stat. 829).\n\nB. Loans by a pension plan to an individual participating in the pension plan\nshall be lawfully enforced as agreed in the contract of indebtedness. No such\nparticipating individual, by way of defense or otherwise, shall avail himself of\nthe provisions of this chapter, or any other law relating to interest or usury,\nto avoid or defeat the payment of interest or any other sum on any loan made by\nthe pension plan. Nothing contained in any law relating to interest or usury\nshall be construed to prevent the recovery of such interest or other sum though\nit is more than otherwise lawful interest and though that fact appears on the\nface of the contract.\n\nHISTORY: 1987, c. 622, \u00a7 6.1-330.67; 2010, c. 794.","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"}}