Virginia Code 6.2-918: Rights and powers of receivers generally.
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Any receiver appointed under the provisions of this article shall be and become assignee of the assets and property of the bank or trust company of which he has been appointed receiver, with power to prosecute and defend, in the name of the bank or trust company or in his name as such receiver or otherwise, in the Commonwealth or elsewhere, all such suits as may be necessary to wind up the affairs and business of such bank or trust company, and to appoint such agents or attorneys for any such purpose as the court may approve.
Terms Used In Virginia Code 6.2-918
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bank: means a corporation authorized by statute to accept deposits and to hold itself out to the public as engaged in the banking business in the Commonwealth. See Virginia Code 6.2-800
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Trust company: has the meaning assigned to it in § Virginia Code 6.2-800
Code 1950, § 6-118; 1966, c. 584, § 6.1-104; 2010, c. 794.