                                 CODE OF VIRGINIA

APPOINTMENT OF FDIC AS RECEIVER (§ 6.2-926)

In any case where the Commission has closed and taken possession of a bank, the
deposits in which are insured by the FDIC, the Commission may apply to the
Circuit Court of the City of Richmond for the appointment of the FDIC as
receiver. The court, if it finds that the FDIC is willing to accept the
appointment, shall appoint the FDIC as receiver. Upon acceptance of the
court&#8217;s appointment of the FDIC as receiver, the FDIC shall not be
required to post bond.

HISTORY: 1983, c. 507, § 6.1-110.2; 2010, c. 794; 2018, c. 257.