{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-919.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-919.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-919.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-919.html"}],"law_id":78346,"edition_id":1,"section_id":78346,"structure_id":14866,"section_number":"6.2-919","catch_line":"Interest on deposits; distribution of surplus remaining after payment of depositors","history":"Code 1950, \u00a7 6-69; 1966, c. 584, \u00a7 6.1-105; 2010, c. 794.","full_text":"When an appropriate court, on a proper application therefor, shall appoint a receiver for any bank or trust company, the court may prescribe and direct, by order or decree entered of record, that the rate of interest to be paid by the receiver upon the claims of depositors of the bank or trust company shall not exceed the current or contracted rate of interest paid by the state bank or trust company on deposits. In addition, the court may fix the interest to be so paid at such lower rate as the court may deem proper under all the circumstances of the case. In such event, the court shall also direct that any surplus remaining after the payment in full of the depositors, together with the interest thereon as so prescribed and fixed, shall be distributed pro rata among the shareholders of the bank or trust company as of the date of the appointment of the receiver.","order_by":null,"text":{"0":{"id":280824,"text":"When an appropriate court, on a proper application therefor, shall appoint a receiver for any bank or trust company, the court may prescribe and direct, by order or decree entered of record, that the rate of interest to be paid by the receiver upon the claims of depositors of the bank or trust company shall not exceed the current or contracted rate of interest paid by the state bank or trust company on deposits. In addition, the court may fix the interest to be so paid at such lower rate as the court may deem proper under all the circumstances of the case. In such event, the court shall also direct that any surplus remaining after the payment in full of the depositors, together with the interest thereon as so prescribed and fixed, shall be distributed pro rata among the shareholders of the bank or trust company as of the date of the appointment of the receiver.","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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-919\/","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":265229,"object_type":"law","relational_id":78346,"identifier":"6.2-919","token":"6.2\/II\/8\/13\/6.2-919","url":"\/6.2-919\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-919\/","token":"6.2\/II\/8\/13\/6.2-919","dublin_core":{"Title":"Interest on deposits; distribution of surplus remaining after payment of depositors","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-919","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

When an appropriate court<\/span>, on a proper application therefor, shall appoint a receiver for any bank or trust company, the court<\/span> may prescribe and direct, by order<\/span> or decree<\/span> entered of record, that the rate of interest to be paid by the receiver upon the claims of depositors of the bank or trust company shall not exceed the current or contracted rate of interest paid by the state bank<\/span> or trust company on deposits. In addition, the court<\/span> may fix the interest to be so paid at such lower rate as the court<\/span> may deem proper under all the circumstances of the case. In such event, the court<\/span> shall also direct that any surplus remaining after the payment in full of the depositors, together with the interest thereon as so prescribed and fixed, shall be distributed pro rata among the shareholders of the bank or trust company as of the date of the appointment of the receiver.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINTEREST ON DEPOSITS; DISTRIBUTION OF SURPLUS REMAINING AFTER PAYMENT OF\nDEPOSITORS (\u00a7 6.2-919)\n\nWhen an appropriate court, on a proper application therefor, shall appoint a\nreceiver for any bank or trust company, the court may prescribe and direct, by\norder or decree entered of record, that the rate of interest to be paid by the\nreceiver upon the claims of depositors of the bank or trust company shall not\nexceed the current or contracted rate of interest paid by the state bank or\ntrust company on deposits. In addition, the court may fix the interest to be so\npaid at such lower rate as the court may deem proper under all the circumstances\nof the case. In such event, the court shall also direct that any surplus\nremaining after the payment in full of the depositors, together with the\ninterest thereon as so prescribed and fixed, shall be distributed pro rata among\nthe shareholders of the bank or trust company as of the date of the appointment\nof the receiver.\n\nHISTORY: Code 1950, \u00a7 6-69; 1966, c. 584, \u00a7 6.1-105; 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}}