6.1-102 - (Repealed effective October 1, 2010) Appointment of receiver. - Virginia Statutes

§ 6.1-102. (Repealed effective October 1, 2010) Appointment of receiver.

In any case the Commission shall, whenever, in its judgment, it is necessaryfor the protection of the interests of the Commonwealth or of the depositorsand creditors of any bank doing business in this Commonwealth, or of thecreditors of any trust company doing business in this Commonwealth, apply toany court in this Commonwealth having jurisdiction to appoint receivers forthe appointment of a receiver to take charge of the business affairs andassets and to wind up the affairs and business of any such bank or trustcompany failing to comply with the requirements of the Commission, or foundupon examination to be insolvent or unable to meet its obligations and thelegal demands made upon it in the ordinary course and conduct of its business.

(Code 1950, § 6-116; 1966, c. 584.)