{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-930.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-930.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-930.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-930.html"}],"law_id":55666,"edition_id":1,"section_id":55666,"structure_id":14352,"section_number":"6.2-930","catch_line":"Emergency sale of assets","history":"1983, c. 507, \u00a7 6.1-110.6; 2010, c. 794.","full_text":"The FDIC as receiver, with ex parte approval of the receivership court, may sell all or any part of the closed bank’s assets. All or any part of such assets may be sold to the Federal Deposit Insurance Corporation in its capacity as a corporation. The FDIC as receiver may also borrow from the FDIC, in its corporate capacity, any amount necessary to facilitate the assumption of deposit liabilities by an existing bank or a newly chartered bank, and may assign any part or all of the assets of the closed bank as security for such loan.","order_by":null,"text":{"0":{"id":204049,"text":"The FDIC as receiver, with ex parte approval of the receivership court, may sell all or any part of the closed bank’s assets. All or any part of such assets may be sold to the Federal Deposit Insurance Corporation in its capacity as a corporation. The FDIC as receiver may also borrow from the FDIC, in its corporate capacity, any amount necessary to facilitate the assumption of deposit liabilities by an existing bank or a newly chartered bank, and may assign any part or all of the assets of the closed bank as security for such loan.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14352,"edition_id":1,"name":"Appointment of Fdic as Receiver","identifier":"14","label":"article","depth":4,"order_by":1,"parent_id":13791,"metadata":{},"date_created":"2026-06-26 03:47:51","date_modified":"2026-06-26 03:47:51","permalink":{"id":265253,"object_type":"structure","relational_id":14352,"identifier":"14","token":"6.2\/II\/8\/14","url":"\/6.2\/II\/8\/14\/","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":79535,"structure_id":14352,"section_number":"6.2-925","catch_line":"Definitions","url":"\/6.2-925\/","token":"6.2\/II\/8\/14\/6.2-925","metadata":false},{"id":84082,"structure_id":14352,"section_number":"6.2-926","catch_line":"Appointment of FDIC as receiver","url":"\/6.2-926\/","token":"6.2\/II\/8\/14\/6.2-926","metadata":false},{"id":69424,"structure_id":14352,"section_number":"6.2-927","catch_line":"Transfer of title to bank assets","url":"\/6.2-927\/","token":"6.2\/II\/8\/14\/6.2-927","metadata":false},{"id":76936,"structure_id":14352,"section_number":"6.2-928","catch_line":"Posting of notice; effect of posting notice","url":"\/6.2-928\/","token":"6.2\/II\/8\/14\/6.2-928","metadata":false},{"id":74050,"structure_id":14352,"section_number":"6.2-929","catch_line":"Powers of receiver","url":"\/6.2-929\/","token":"6.2\/II\/8\/14\/6.2-929","metadata":false},{"id":55666,"structure_id":14352,"section_number":"6.2-930","catch_line":"Emergency sale of assets","url":"\/6.2-930\/","token":"6.2\/II\/8\/14\/6.2-930","metadata":false},{"id":82077,"structure_id":14352,"section_number":"6.2-931","catch_line":"Notice and proof of claim; notice of rejection of claim; petition for hearing","url":"\/6.2-931\/","token":"6.2\/II\/8\/14\/6.2-931","metadata":false},{"id":85604,"structure_id":14352,"section_number":"6.2-932","catch_line":"Payment of claims filed after prescribed period","url":"\/6.2-932\/","token":"6.2\/II\/8\/14\/6.2-932","metadata":false},{"id":64341,"structure_id":14352,"section_number":"6.2-933","catch_line":"Distribution of assets","url":"\/6.2-933\/","token":"6.2\/II\/8\/14\/6.2-933","metadata":false},{"id":73245,"structure_id":14352,"section_number":"6.2-934","catch_line":"Receivership procedures involving assets held by closed bank as fiduciary","url":"\/6.2-934\/","token":"6.2\/II\/8\/14\/6.2-934","metadata":false},{"id":65564,"structure_id":14352,"section_number":"6.2-935","catch_line":"Termination of executory contracts and leases; liability; extension of statute of limitations","url":"\/6.2-935\/","token":"6.2\/II\/8\/14\/6.2-935","metadata":false},{"id":67997,"structure_id":14352,"section_number":"6.2-936","catch_line":"Subrogation to rights of bank depositors","url":"\/6.2-936\/","token":"6.2\/II\/8\/14\/6.2-936","metadata":false},{"id":66215,"structure_id":14352,"section_number":"6.2-937","catch_line":"Destruction of records","url":"\/6.2-937\/","token":"6.2\/II\/8\/14\/6.2-937","metadata":false}],"previous_section":{"id":74050,"structure_id":14352,"section_number":"6.2-929","catch_line":"Powers of receiver","url":"\/6.2-929\/","token":"6.2\/II\/8\/14\/6.2-929","metadata":false},"next_section":{"id":82077,"structure_id":14352,"section_number":"6.2-931","catch_line":"Notice and proof of claim; notice of rejection of claim; petition for hearing","url":"\/6.2-931\/","token":"6.2\/II\/8\/14\/6.2-931","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-930\/","history_text":"

This law was first created in 1983. The record of its establishment is cataloged in chapter 507 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 1983 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":265275,"object_type":"law","relational_id":55666,"identifier":"6.2-930","token":"6.2\/II\/8\/14\/6.2-930","url":"\/6.2-930\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-930\/","token":"6.2\/II\/8\/14\/6.2-930","dublin_core":{"Title":"Emergency sale of assets","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-930","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The FDIC<\/span> as receiver, with ex parte<\/span> approval of the receivership court<\/span>, may sell all or any part of the closed bank<\/span>’s assets<\/span>. All or any part of such assets<\/span> may be sold to the Federal Deposit Insurance Corporation<\/span> in its capacity as a corporation<\/span>. The FDIC<\/span> as receiver may also borrow from the FDIC<\/span>, in its corporate capacity, any amount necessary to facilitate the assumption of deposit liabilities by an existing bank<\/span> or a newly chartered bank<\/span>, and may assign any part or all of the assets<\/span> of the closed bank<\/span> as security for such loan.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEMERGENCY SALE OF ASSETS (\u00a7 6.2-930)\n\nThe FDIC as receiver, with ex parte approval of the receivership court, may sell\nall or any part of the closed bank’s assets. All or any part of such\nassets may be sold to the Federal Deposit Insurance Corporation in its capacity\nas a corporation. The FDIC as receiver may also borrow from the FDIC, in its\ncorporate capacity, any amount necessary to facilitate the assumption of deposit\nliabilities by an existing bank or a newly chartered bank, and may assign any\npart or all of the assets of the closed bank as security for such loan.\n\nHISTORY: 1983, c. 507, \u00a7 6.1-110.6; 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}}