Virginia § 6.2-926 Appointment of FDIC as receiver

Virginia Statutes

§ 6.2-926 — Appointment of FDIC as receiver

Virginia § 6.2-926

JurisdictionVirginia

Title 6.2Financial Institutions and Services

Subtitle IIDepository Institutions and Trust Organizations

Ch. 8Banks

Art. 14APPOINTMENT OF FDIC AS RECEIVER

This text of Virginia § 6.2-926 (Appointment of FDIC as receiver) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 6.2-926 (2026).

Text

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's appointment of the FDIC as receiver, the FDIC shall not be required to post bond.

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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's appointment of the FDIC as receiver, the FDIC shall not be required to post bond.