{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-933.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-933.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-933.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-933.html"}],"law_id":64341,"edition_id":1,"section_id":64341,"structure_id":14352,"section_number":"6.2-933","catch_line":"Distribution of assets","history":"1983, c. 507, \u00a7 6.1-110.9; 2010, c. 794.","full_text":"A\n\nAll claims against the bank’s estate, proved to the satisfaction of the FDIC as receiver or approved by the receivership court, shall be paid in the following order:1\n\nAdministration expenses of the liquidation;2\n\nClaims given priority under other provisions of state or federal law;3\n\nDeposit obligations;4\n\nOther general liabilities;5\n\nDebt subordinated to the claims of depositors and general creditors; and6\n\nEquity capital securities.B\n\nNo interest on any claim shall be paid until all claims within the same class have received the full principal amount of claim.","order_by":null,"text":{"0":{"id":234157,"text":"All claims against the bank’s estate, proved to the satisfaction of the FDIC as receiver or approved by the receivership court, shall be paid in the following order:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":234158,"text":"Administration expenses of the liquidation;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":234159,"text":"Claims given priority under other provisions of state or federal law;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":234160,"text":"Deposit obligations;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":234161,"text":"Other general liabilities;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":234162,"text":"Debt subordinated to the claims of depositors and general creditors; and","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":234163,"text":"Equity capital securities.","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"B"},"7":{"id":234164,"text":"No interest on any claim shall be paid until all claims within the same class have received the full principal amount of claim.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A6"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-933\/","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":[{"id":74050,"section_number":"6.2-929","catch_line":"Powers of receiver","order_by":null,"url":"\/6.2-929\/"}],"refers_to":false,"permalink":{"id":265287,"object_type":"law","relational_id":64341,"identifier":"6.2-933","token":"6.2\/II\/8\/14\/6.2-933","url":"\/6.2-933\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-933\/","token":"6.2\/II\/8\/14\/6.2-933","dublin_core":{"Title":"Distribution of assets","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-933","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> All claims against the bank<\/span>’s estate, proved to the satisfaction of the FDIC<\/span> as receiver or approved by the receivership court<\/span>, shall be paid in the following order<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Administration expenses of the liquidation<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Claims given priority under other provisions of state or federal law<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Deposit obligations; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Other general liabilities; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Debt subordinated to the claims of depositors and general creditors<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Equity<\/span> capital securities. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> No interest on any claim shall be paid until all claims within the same class have received the full principal amount of claim. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDISTRIBUTION OF ASSETS (\u00a7 6.2-933)\n\nA. All claims against the bank’s estate, proved to the satisfaction of the\nFDIC as receiver or approved by the receivership court, shall be paid in the\nfollowing order:\n\n 1. Administration expenses of the liquidation;\n\n 2. Claims given priority under other provisions of state or federal law;\n\n 3. Deposit obligations;\n\n 4. Other general liabilities;\n\n 5. Debt subordinated to the claims of depositors and general creditors; and\n\n 6. Equity capital securities.\n\nB. No interest on any claim shall be paid until all claims within the same class\nhave received the full principal amount of claim.\n\nHISTORY: 1983, c. 507, \u00a7 6.1-110.9; 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}}