Va. Code Ann. § 6.2-916
This is the official text of Va. Code Ann. § 6.2-916, part of Virginia’s Code of Virginia — the complete compiled statutory law of Virginia, organized into 60+ numbered titles by subject.
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Appointment of receiver
Official statutory text
When, in the judgment of the Commission, it is necessary for the protection of the interests of the Commonwealth or of the depositors and creditors of any bank doing business in the Commonwealth, or of the creditors of any trust company doing business in the Commonwealth, the Commission shall apply to any court in the Commonwealth having jurisdiction to appoint receivers for the appointment of a receiver to take charge of the business affairs and assets, and to wind up the affairs and business, of any such bank or trust company (i) failing to comply with the requirements of the Commission or (ii) found upon examination to be insolvent or unable to meet its obligations and the legal demands made upon it in the ordinary course and conduct of its business.
Code 1950, § 6-116; 1966, c. 584, § 6.1-102; 2010, c. 794 .
Code 1950, § 6-116; 1966, c. 584, § 6.1-102; 2010, c. 794 .
Status: in_force · Read it on the official government site
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