                                 CODE OF VIRGINIA

FEDERAL DEPOSIT INSURANCE A CREDIT TOWARDS CERTAIN REQUIRED BONDS (§ 6.2-892)

If a bank is required by the laws of the Commonwealth to furnish or deposit a
surety bond or securities as security for the payment of any funds deposited in
the bank, other than funds received or held in the trust department of the bank
awaiting investment or distribution, the amount of the penalty of such bond or
the amount of such securities shall be as required by law, less the amount of
such deposit that, to the satisfaction of the body, officer, or other person
responsible for seeing that a surety bond or amount of securities is furnished
as security for such deposit, is insured under the provisions of § 12-b of the
Federal Reserve Act, as amended, or any amendments thereto.

HISTORY: Code 1950, § 6-70; 1966, c. 584, § 6.1-83; 2010, c. 794.