Virginia § 6.2-933 Distribution of assets

Virginia Statutes

§ 6.2-933 — Distribution of assets

Virginia § 6.2-933

JurisdictionVirginia

Title 6.2FINANCIAL INSTITUTIONS AND SERVICES

Subtitle IIDEPOSITORY INSTITUTIONS AND TRUST ORGANIZATIONS

Ch. 8BANKS

Art. 14APPOINTMENT OF FDIC AS RECEIVER

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Bluebook

Va. Code Ann. § 6.2-933 (2026).

Text

A.All claims against the bank'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.

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A. All claims against the bank'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.