Virginia § 6.2-919 - Interest on deposits; distribution of surplus remaining after payment of depositors
Full text of Virginia Code of Virginia § 6.2-919 — Interest on deposits; distribution of surplus remaining after payment of depositors, with citation guidance and answers to common questions.
§ 6.2-919. Interest on deposits; distribution of surplus remaining after payment of depositors
When an appropriate court, on a proper application therefor, shall appoint a receiver for any bank or trust company, the court may prescribe and direct, by order or decree entered of record, that the rate of interest to be paid by the receiver upon the claims of depositors of the bank or trust company shall not exceed the current or contracted rate of interest paid by the state bank or trust company on deposits. In addition, the court may fix the interest to be so paid at such lower rate as the court may deem proper under all the circumstances of the case. In such event, the court shall also direct that any surplus remaining after the payment in full of the depositors, together with the interest thereon as so prescribed and fixed, shall be distributed pro rata among the shareholders of the bank or trust company as of the date of the appointment of the receiver.
Code 1950, § 6-69; 1966, c. 584, § 6.1-105; 2010, c. 794.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-919
What does Code of Virginia § 6.2-919 cover?
Section 6.2-919 ("Interest on deposits; distribution of surplus remaining after payment of depositors") 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 § 6.2-919?
A common citation format is "Code of Virginia § 6.2-919" (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 § 6.2-919 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.