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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>84082</law_id><section_number>6.2-926</section_number><catch_line>Appointment of FDIC as receiver</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="6.2">Financial Institutions and Services</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Depository Institutions and Trust Organizations</unit><unit label="chapter" level="3" order_by="1" identifier="8">Banks</unit><unit label="article" level="4" order_by="1" identifier="14">Appointment of Fdic as Receiver</unit></structure><text>
						<section><p>In any case where the <span class="dictionary">Commission</span> has closed and taken <span class="dictionary">possession</span> of a <span class="dictionary">bank</span>, the deposits in which are insured by the <span class="dictionary">FDIC</span>, the <span class="dictionary">Commission</span> may apply to the <span class="dictionary">Circuit</span> <span class="dictionary">Court</span> of the City of Richmond for the appointment of the <span class="dictionary">FDIC</span> as receiver. The <span class="dictionary">court</span>, if it finds that the <span class="dictionary">FDIC</span> is willing to accept the appointment, shall appoint the <span class="dictionary">FDIC</span> as receiver. Upon acceptance of the <span class="dictionary">court</span>&#x2019;s appointment of the <span class="dictionary">FDIC</span> as receiver, the <span class="dictionary">FDIC</span> shall not be required to post <span class="dictionary">bond</span>.</p></section></text><history>1983, c. 507, &#xA7; 6.1-110.2; 2010, c. 794; 2018, c. 257.</history><metadata></metadata></law>
