6.1-110.2 - (Repealed effective October 1, 2010) Appointment of FDIC. - Virginia Statutes

§ 6.1-110.2. (Repealed effective October 1, 2010) Appointment of FDIC.

In any case where the Commission has closed and taken possession of a bank,the Commission may apply to any court in the Commonwealth having jurisdictionto appoint receivers for the appointment of the FDIC as receiver if anydeposits in the closed bank are insured by the FDIC. The court, if it findsthat to do so will be in the public interest, may appoint the FDIC receiver.Upon acceptance of the court's appointment as receiver, the FDIC shall not berequired to post bond.

(1983, c. 507.)