                                 CODE OF VIRGINIA

PRIORITY OF CLAIMS FOR WAGES (§ 38.2-1514)

Before the payment of any other debt or claim, other than those for which a
higher priority is established in § 38.2-1509, compensation shall be paid to
employees other than officers of an insurer for services rendered within three
months before the commencement of the delinquency proceedings. The payment shall
not exceed $1,000 for each employee. At the discretion of the Commission, or a
receiver other than the Commission with the approval of the court, payment may
be made as soon as practicable. This priority shall be superior to any other
similar priority authorized by law regarding wages or compensation of the
employees.
		Nothing in this section shall prohibit a receiver from allocating sufficient
funds to cover the expenses of administration.

HISTORY: 1952, c. 317, § 38.1-138; 1986, c. 562; 1996, c. 81.