{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-4406.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-4406.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-4406.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-4406.html"}],"law_id":56567,"edition_id":1,"section_id":56567,"structure_id":13096,"section_number":"2.2-4406","catch_line":"Subrogation of Treasury Board to depositor’s rights; payment of sums received from distribution of assets","history":"1973, c. 172, \u00a7 2.1-365; 2001, c. 844; 2010, cc. 640, 674.","full_text":"Upon payment in full to any public depositor on any claim presented pursuant to \u00a7 2.2-4403 or 2.2-4404, the Treasury Board shall be subrogated to all of such depositor’s rights, title and interest against the depository in default or insolvent and shall share in any distribution of such defaulting or insolvent depository’s assets ratably with other depositors. Any sums received from any such distribution shall be paid to the other qualified public depositories against which assessments were made, in proportion to such assessments, net of any proper payment or expense of the Treasury Board in enforcing any such claim.","order_by":null,"text":{"0":{"id":207038,"text":"Upon payment in full to any public depositor on any claim presented pursuant to \u00a7 2.2-4403 or 2.2-4404, the Treasury Board shall be subrogated to all of such depositor’s rights, title and interest against the depository in default or insolvent and shall share in any distribution of such defaulting or insolvent depository’s assets ratably with other depositors. Any sums received from any such distribution shall be paid to the other qualified public depositories against which assessments were made, in proportion to such assessments, net of any proper payment or expense of the Treasury Board in enforcing any such claim.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13096,"edition_id":1,"name":"Virginia Security for Public Deposits Act","identifier":"44","label":"chapter","depth":4,"order_by":1,"parent_id":12751,"metadata":{},"date_created":"2026-06-26 03:44:17","date_modified":"2026-06-26 03:44:17","permalink":{"id":177455,"object_type":"structure","relational_id":13096,"identifier":"44","token":"2.2\/II\/B\/44","url":"\/2.2\/II\/B\/44\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12751,"edition_id":1,"name":"Transaction of Public Business","identifier":"B","label":"part","depth":3,"order_by":1,"parent_id":12750,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176445,"object_type":"structure","relational_id":12751,"identifier":"B","token":"2.2\/II\/B","url":"\/2.2\/II\/B\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12750,"edition_id":1,"name":"Administration of State Government","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":176253,"object_type":"structure","relational_id":12750,"identifier":"II","token":"2.2\/II","url":"\/2.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":63923,"structure_id":13096,"section_number":"2.2-4400","catch_line":"Short title; declaration of intent; applicability","url":"\/2.2-4400\/","token":"2.2\/II\/B\/44\/2.2-4400","metadata":false},{"id":63362,"structure_id":13096,"section_number":"2.2-4401","catch_line":"Definitions","url":"\/2.2-4401\/","token":"2.2\/II\/B\/44\/2.2-4401","metadata":false},{"id":54139,"structure_id":13096,"section_number":"2.2-4402","catch_line":"Collateral for public deposits","url":"\/2.2-4402\/","token":"2.2\/II\/B\/44\/2.2-4402","metadata":false},{"id":81935,"structure_id":13096,"section_number":"2.2-4403","catch_line":"Procedure for payment of losses by pooled method","url":"\/2.2-4403\/","token":"2.2\/II\/B\/44\/2.2-4403","metadata":false},{"id":69042,"structure_id":13096,"section_number":"2.2-4404","catch_line":"Procedure for payment of losses by dedicated method","url":"\/2.2-4404\/","token":"2.2\/II\/B\/44\/2.2-4404","metadata":false},{"id":72652,"structure_id":13096,"section_number":"2.2-4405","catch_line":"Powers of Treasury Board relating to the administration of this chapter","url":"\/2.2-4405\/","token":"2.2\/II\/B\/44\/2.2-4405","metadata":false},{"id":56567,"structure_id":13096,"section_number":"2.2-4406","catch_line":"Subrogation of Treasury Board to depositor's rights; payment of sums received from distribution of assets","url":"\/2.2-4406\/","token":"2.2\/II\/B\/44\/2.2-4406","metadata":false},{"id":60400,"structure_id":13096,"section_number":"2.2-4407","catch_line":"Mandatory deposit of public funds in qualified public depositories","url":"\/2.2-4407\/","token":"2.2\/II\/B\/44\/2.2-4407","metadata":false},{"id":66458,"structure_id":13096,"section_number":"2.2-4408","catch_line":"Authority to make public deposits","url":"\/2.2-4408\/","token":"2.2\/II\/B\/44\/2.2-4408","metadata":false},{"id":58988,"structure_id":13096,"section_number":"2.2-4409","catch_line":"Authority to secure public deposits; acceptance of liabilities and duties by public depositories","url":"\/2.2-4409\/","token":"2.2\/II\/B\/44\/2.2-4409","metadata":false},{"id":63178,"structure_id":13096,"section_number":"2.2-4410","catch_line":"Liability of public depositors","url":"\/2.2-4410\/","token":"2.2\/II\/B\/44\/2.2-4410","metadata":false},{"id":86132,"structure_id":13096,"section_number":"2.2-4411","catch_line":"Reports of qualified public depositories","url":"\/2.2-4411\/","token":"2.2\/II\/B\/44\/2.2-4411","metadata":false}],"previous_section":{"id":72652,"structure_id":13096,"section_number":"2.2-4405","catch_line":"Powers of Treasury Board relating to the administration of this chapter","url":"\/2.2-4405\/","token":"2.2\/II\/B\/44\/2.2-4405","metadata":false},"next_section":{"id":60400,"structure_id":13096,"section_number":"2.2-4407","catch_line":"Mandatory deposit of public funds in qualified public depositories","url":"\/2.2-4407\/","token":"2.2\/II\/B\/44\/2.2-4407","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-4406\/","history_text":"

This law was first created in 1973. The record of its establishment is cataloged in chapter 172 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 1973 \u201cActs\u201d aren\u2019t available online. It has been modified 2 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 2001, chapter 844<\/a>; in 2010, chapters 640<\/a> and 674<\/a>.<\/p>","references":false,"refers_to":[{"id":81935,"section_number":"2.2-4403","catch_line":"Procedure for payment of losses by pooled method","order_by":null,"url":"\/2.2-4403\/"},{"id":69042,"section_number":"2.2-4404","catch_line":"Procedure for payment of losses by dedicated method","order_by":null,"url":"\/2.2-4404\/"}],"permalink":{"id":177481,"object_type":"law","relational_id":56567,"identifier":"2.2-4406","token":"2.2\/II\/B\/44\/2.2-4406","url":"\/2.2-4406\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-4406\/","token":"2.2\/II\/B\/44\/2.2-4406","dublin_core":{"Title":"Subrogation of Treasury Board to depositor’s rights; payment of sums received from distribution of assets","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-4406","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Upon payment in full to any public depositor<\/span> on any claim presented pursuant to \u00a7 2.2-4403<\/a> or 2.2-4404<\/a>, the Treasury Board<\/span> shall be subrogated to all of such depositor’s rights, title and interest against the depository in default<\/span> or insolvent and shall share in any distribution of such defaulting or insolvent depository’s assets<\/span> ratably with other depositors. Any sums received from any such distribution shall be paid to the other qualified public depositories against which assessments were made, in proportion to such assessments, net of any proper payment or expense of the Treasury Board<\/span> in enforcing any such claim.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSUBROGATION OF TREASURY BOARD TO DEPOSITOR’S RIGHTS; PAYMENT OF SUMS\nRECEIVED FROM DISTRIBUTION OF ASSETS (\u00a7 2.2-4406)\n\nUpon payment in full to any public depositor on any claim presented pursuant to\n\u00a7 2.2-4403 or 2.2-4404, the Treasury Board shall be subrogated to all of such\ndepositor’s rights, title and interest against the depository in default\nor insolvent and shall share in any distribution of such defaulting or insolvent\ndepository’s assets ratably with other depositors. Any sums received from\nany such distribution shall be paid to the other qualified public depositories\nagainst which assessments were made, in proportion to such assessments, net of\nany proper payment or expense of the Treasury Board in enforcing any such claim.\n\nHISTORY: 1973, c. 172, \u00a7 2.1-365; 2001, c. 844; 2010, cc. 640, 674.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}