{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-915.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-915.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-915.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-915.html"}],"law_id":80551,"edition_id":1,"section_id":80551,"structure_id":14866,"section_number":"6.2-915","catch_line":"Protection of state deposits upon insolvency","history":"Code 1950, \u00a7 6-115; 1966, c. 584, \u00a7 6.1-101; 2010, c. 794.","full_text":"If, upon the examination of any bank that is designated as a state depository, it appears to the Commission that the bank is insolvent or is unable to meet its obligations and the legal demands upon it in the ordinary course of its business, the Commission shall forthwith notify the State Treasurer, who shall discontinue further deposits therein of state funds and take such action as may be necessary to protect the deposits of the Commonwealth therein.","order_by":null,"text":{"0":{"id":288583,"text":"If, upon the examination of any bank that is designated as a state depository, it appears to the Commission that the bank is insolvent or is unable to meet its obligations and the legal demands upon it in the ordinary course of its business, the Commission shall forthwith notify the State Treasurer, who shall discontinue further deposits therein of state funds and take such action as may be necessary to protect the deposits of the Commonwealth therein.","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}],"previous_section":{"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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-915\/","history_text":"

The record of this law\u2019s original creation isn\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 1966, chapter 584; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":74671,"section_number":"6.2-886","catch_line":"Regulation of controlled subsidiary corporations by Commission","order_by":null,"url":"\/6.2-886\/"}],"refers_to":false,"permalink":{"id":265213,"object_type":"law","relational_id":80551,"identifier":"6.2-915","token":"6.2\/II\/8\/13\/6.2-915","url":"\/6.2-915\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-915\/","token":"6.2\/II\/8\/13\/6.2-915","dublin_core":{"Title":"Protection of state deposits upon insolvency","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-915","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

If, upon the examination of any bank<\/span> that is designated as a state depository, it appears to the Commission<\/span> that the bank<\/span> is insolvent or is unable to meet its obligations and the legal demands upon it in the ordinary course of its business, the Commission<\/span> shall forthwith notify the State Treasurer, who shall discontinue further deposits therein of state funds and take such action as may be necessary to protect the deposits of the Commonwealth therein.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPROTECTION OF STATE DEPOSITS UPON INSOLVENCY (\u00a7 6.2-915)\n\nIf, upon the examination of any bank that is designated as a state depository,\nit appears to the Commission that the bank is insolvent or is unable to meet its\nobligations and the legal demands upon it in the ordinary course of its\nbusiness, the Commission shall forthwith notify the State Treasurer, who shall\ndiscontinue further deposits therein of state funds and take such action as may\nbe necessary to protect the deposits of the Commonwealth therein.\n\nHISTORY: Code 1950, \u00a7 6-115; 1966, c. 584, \u00a7 6.1-101; 2010, c. 794.","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}}