                                 CODE OF VIRGINIA

PROTECTION OF STATE DEPOSITS UPON INSOLVENCY (§ 6.2-915)

If, upon the examination of any bank that is designated as a state depository,
it appears to the Commission that the bank is insolvent or is unable to meet its
obligations and the legal demands upon it in the ordinary course of its
business, the Commission shall forthwith notify the State Treasurer, who shall
discontinue further deposits therein of state funds and take such action as may
be necessary to protect the deposits of the Commonwealth therein.

HISTORY: Code 1950, § 6-115; 1966, c. 584, § 6.1-101; 2010, c. 794.