{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-916.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-916.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-916.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-916.html"}],"law_id":84969,"edition_id":1,"section_id":84969,"structure_id":14866,"section_number":"6.2-916","catch_line":"Appointment of receiver","history":"Code 1950, \u00a7 6-116; 1966, c. 584, \u00a7 6.1-102; 2010, c. 794.","full_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.","order_by":null,"text":{"0":{"id":304566,"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.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-916\/","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":81407,"section_number":"58.1-1215","catch_line":"Banks in liquidation","order_by":null,"url":"\/58.1-1215\/"},{"id":67670,"section_number":"6.2-1038","catch_line":"Appointment of receiver","order_by":null,"url":"\/6.2-1038\/"},{"id":56799,"section_number":"6.2-913","catch_line":"Closing bank; appointment of receiver","order_by":null,"url":"\/6.2-913\/"}],"refers_to":false,"permalink":{"id":265217,"object_type":"law","relational_id":84969,"identifier":"6.2-916","token":"6.2\/II\/8\/13\/6.2-916","url":"\/6.2-916\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-916\/","token":"6.2\/II\/8\/13\/6.2-916","dublin_core":{"Title":"Appointment of receiver","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-916","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

When, in the judgment<\/span> of the Commission<\/span>, it is necessary for the protection of the interests of the Commonwealth or of the depositors and creditors<\/span> of any bank<\/span> doing business in the Commonwealth, or of the creditors<\/span> of any trust company doing business in the Commonwealth, the Commission<\/span> shall apply to any court<\/span> in the Commonwealth having jurisdiction<\/span> to appoint receivers for the appointment of a receiver to take charge of the business affairs and assets<\/span>, and to wind up the affairs and business, of any such bank<\/span> or trust company (i) failing to comply with the requirements of the Commission<\/span> 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.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAPPOINTMENT OF RECEIVER (\u00a7 6.2-916)\n\nWhen, in the judgment of the Commission, it is necessary for the protection of\nthe interests of the Commonwealth or of the depositors and creditors of any bank\ndoing business in the Commonwealth, or of the creditors of any trust company\ndoing business in the Commonwealth, the Commission shall apply to any court in\nthe Commonwealth having jurisdiction to appoint receivers for the appointment of\na receiver to take charge of the business affairs and assets, and to wind up the\naffairs and business, of any such bank or trust company (i) failing to comply\nwith the requirements of the Commission or (ii) found upon examination to be\ninsolvent or unable to meet its obligations and the legal demands made upon it\nin the ordinary course and conduct of its business.\n\nHISTORY: Code 1950, \u00a7 6-116; 1966, c. 584, \u00a7 6.1-102; 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}}