6.2-921 - (Effective October 1, 2010) When publication of list of creditors unnecessary. - Virginia Statutes

§ 6.2-921. (Effective October 1, 2010) When publication of list of creditorsunnecessary.

If any bank or trust company under the circumstances set forth in clause (i)or (ii) of § 6.2-920 is in liquidation for a period of more than 10 years,and more than five years have elapsed since the date of the entry of the lastcourt order directing the payment to creditors of dividends on or otherpayments of claims as therein ascertained and established, then it shall beunnecessary to publish a list of creditors to whom dividends or payments aredue and unpaid and the amount thereof. In such event, it shall only benecessary to publish a notice stating (i) the total amount of dividendsordered paid and unclaimed; (ii) that a list of such creditors may be seen atthe office of the receiver, liquidating agent, or other disbursing officer;and (iii) that any creditor who fails to apply to such disbursing officialfor payment of the amount due him within six months from the date of the lastpublication of such notice shall be barred from his right thereafter toreceive payment of amounts then due and from participation in any futuredividends or payments that may thereafter be ordered.

(Code 1950, § 6-59; 1966, c. 584, § 6.1-107; 2010, c. 794.)