                                 CODE OF VIRGINIA

DISTRIBUTION OF ASSETS (§ 6.2-933)

A. All claims against the bank&#8217;s estate, proved to the satisfaction of the
FDIC as receiver or approved by the receivership court, shall be paid in the
following order:

   1. Administration expenses of the liquidation;

   2. Claims given priority under other provisions of state or federal law;

   3. Deposit obligations;

   4. Other general liabilities;

   5. Debt subordinated to the claims of depositors and general creditors; and

   6. Equity capital securities.

B. No interest on any claim shall be paid until all claims within the same class
have received the full principal amount of claim.

HISTORY: 1983, c. 507, § 6.1-110.9; 2010, c. 794.