Virginia § 2.2-4406 - Subrogation of Treasury Board to depositor's rights; payment of sums received from distribution of assets
Full text of Virginia Code of Virginia § 2.2-4406 — Subrogation of Treasury Board to depositor's rights; payment of sums received from distribution of assets, with citation guidance and answers to common questions.
§ 2.2-4406. Subrogation of Treasury Board to depositor's rights; payment of sums received from distribution of assets
Upon payment in full to any public depositor on any claim presented pursuant to § 2.2-4403 or 2.2-4404, the Treasury Board shall be subrogated to all of such depositor's rights, title and interest against the depository in default or insolvent and shall share in any distribution of such defaulting or insolvent depository's assets ratably with other depositors. Any sums received from any such distribution shall be paid to the other qualified public depositories against which assessments were made, in proportion to such assessments, net of any proper payment or expense of the Treasury Board in enforcing any such claim.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 2.2-4406
What does Code of Virginia § 2.2-4406 cover?
Section 2.2-4406 ("Subrogation of Treasury Board to depositor's rights; payment of sums received from distribution of assets") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 2.2-4406?
A common citation format is "Code of Virginia § 2.2-4406" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 2.2-4406 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.