                                 CODE OF VIRGINIA

INTEREST ON DEPOSITS; DISTRIBUTION OF SURPLUS REMAINING AFTER PAYMENT OF
DEPOSITORS (§ 6.2-919)

When an appropriate court, on a proper application therefor, shall appoint a
receiver for any bank or trust company, the court may prescribe and direct, by
order or decree entered of record, that the rate of interest to be paid by the
receiver upon the claims of depositors of the bank or trust company shall not
exceed the current or contracted rate of interest paid by the state bank or
trust company on deposits. In addition, the court may fix the interest to be so
paid at such lower rate as the court may deem proper under all the circumstances
of the case. In such event, the court shall also direct that any surplus
remaining after the payment in full of the depositors, together with the
interest thereon as so prescribed and fixed, shall be distributed pro rata among
the shareholders of the bank or trust company as of the date of the appointment
of the receiver.

HISTORY: Code 1950, § 6-69; 1966, c. 584, § 6.1-105; 2010, c. 794.