{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-912.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-912.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-912.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-912.html"}],"law_id":80948,"edition_id":1,"section_id":80948,"structure_id":14866,"section_number":"6.2-912","catch_line":"Definition","history":"Code 1950, \u00a7 6-114; 1966, c. 584, \u00a7 6.1-100; 1983, c. 507; 2010, c. 794; 2018, c. 257.","full_text":"As used in this article, “insolvent” or “insolvency” means incapable of meeting the current demands of creditors or having liabilities which, in total, exceed the book value of assets.","order_by":null,"text":{"0":{"id":290164,"text":"As used in this article, “insolvent” or “insolvency” means incapable of meeting the current demands of creditors or having liabilities which, in total, exceed the book value of assets.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14866,"edition_id":1,"name":"Receiverships","identifier":"13","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 03:50:29","date_modified":"2026-06-26 03:50:29","permalink":{"id":265199,"object_type":"structure","relational_id":14866,"identifier":"13","token":"6.2\/II\/8\/13","url":"\/6.2\/II\/8\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13791,"edition_id":1,"name":"Banks","identifier":"8","label":"chapter","depth":3,"order_by":1,"parent_id":13000,"metadata":{},"date_created":"2026-06-26 03:45:53","date_modified":"2026-06-26 03:45:53","permalink":{"id":265065,"object_type":"structure","relational_id":13791,"identifier":"8","token":"6.2\/II\/8","url":"\/6.2\/II\/8\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13000,"edition_id":1,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:07","date_modified":"2026-06-26 03:44:07","permalink":{"id":263685,"object_type":"structure","relational_id":13000,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80948,"structure_id":14866,"section_number":"6.2-912","catch_line":"Definition","url":"\/6.2-912\/","token":"6.2\/II\/8\/13\/6.2-912","metadata":false},{"id":56799,"structure_id":14866,"section_number":"6.2-913","catch_line":"Closing bank; appointment of receiver","url":"\/6.2-913\/","token":"6.2\/II\/8\/13\/6.2-913","metadata":false},{"id":64972,"structure_id":14866,"section_number":"6.2-914","catch_line":"Merger or transfer of assets of insolvent bank","url":"\/6.2-914\/","token":"6.2\/II\/8\/13\/6.2-914","metadata":false},{"id":80551,"structure_id":14866,"section_number":"6.2-915","catch_line":"Protection of state deposits upon insolvency","url":"\/6.2-915\/","token":"6.2\/II\/8\/13\/6.2-915","metadata":false},{"id":84969,"structure_id":14866,"section_number":"6.2-916","catch_line":"Appointment of receiver","url":"\/6.2-916\/","token":"6.2\/II\/8\/13\/6.2-916","metadata":false},{"id":58223,"structure_id":14866,"section_number":"6.2-917","catch_line":"Execution of powers of sale by receivers","url":"\/6.2-917\/","token":"6.2\/II\/8\/13\/6.2-917","metadata":false},{"id":67404,"structure_id":14866,"section_number":"6.2-918","catch_line":"Rights and powers of receivers generally","url":"\/6.2-918\/","token":"6.2\/II\/8\/13\/6.2-918","metadata":false},{"id":78346,"structure_id":14866,"section_number":"6.2-919","catch_line":"Interest on deposits; distribution of surplus remaining after payment of depositors","url":"\/6.2-919\/","token":"6.2\/II\/8\/13\/6.2-919","metadata":false},{"id":82233,"structure_id":14866,"section_number":"6.2-920","catch_line":"Proceedings to bar certain claims against banks in liquidation","url":"\/6.2-920\/","token":"6.2\/II\/8\/13\/6.2-920","metadata":false},{"id":81421,"structure_id":14866,"section_number":"6.2-921","catch_line":"When publication of list of creditors unnecessary","url":"\/6.2-921\/","token":"6.2\/II\/8\/13\/6.2-921","metadata":false},{"id":58453,"structure_id":14866,"section_number":"6.2-922","catch_line":"When publication once in two newspapers sufficient","url":"\/6.2-922\/","token":"6.2\/II\/8\/13\/6.2-922","metadata":false},{"id":81832,"structure_id":14866,"section_number":"6.2-923","catch_line":"When claims barred","url":"\/6.2-923\/","token":"6.2\/II\/8\/13\/6.2-923","metadata":false},{"id":79790,"structure_id":14866,"section_number":"6.2-924","catch_line":"Power of receivers to contract for loans and make investments","url":"\/6.2-924\/","token":"6.2\/II\/8\/13\/6.2-924","metadata":false}],"next_section":{"id":56799,"structure_id":14866,"section_number":"6.2-913","catch_line":"Closing bank; 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The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 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 1966, chapter 584; in 1983, chapter 507; in 2010, chapter 794<\/a>; in 2018, chapter 257<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":265201,"object_type":"law","relational_id":80948,"identifier":"6.2-912","token":"6.2\/II\/8\/13\/6.2-912","url":"\/6.2-912\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-912\/","token":"6.2\/II\/8\/13\/6.2-912","dublin_core":{"Title":"Definition","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-912","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this article, “insolvent” or “insolvency” means incapable of meeting the current demands of creditors<\/span> or having liabilities which, in total, exceed the book value of assets<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITION (\u00a7 6.2-912)\n\nAs used in this article, “insolvent” or “insolvency”\nmeans incapable of meeting the current demands of creditors or having\nliabilities which, in total, exceed the book value of assets.\n\nHISTORY: Code 1950, \u00a7 6-114; 1966, c. 584, \u00a7 6.1-100; 1983, c. 507; 2010, c.\n794; 2018, c. 257.","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}}