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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>67997</law_id><section_number>6.2-936</section_number><catch_line>Subrogation to rights of bank depositors</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>Whenever the <span class="dictionary">FDIC</span> pays, or makes available for payment, the insured deposit liabilities of a closed <span class="dictionary">bank</span>, the <span class="dictionary">FDIC</span>, whether or not it acts as receiver, shall be subrogated to all rights of depositors against the closed <span class="dictionary">bank</span> to the same extent as subrogation is provided for by the Federal Deposit Insurance Act (12 U.S.C. &#xA7;&#xA0;1811 et seq.) in the case of a national <span class="dictionary">bank</span>.</p></section></text><history>1983, c. 507, &#xA7; 6.1-110.12; 2010, c. 794.</history><metadata></metadata></law>
