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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 6.2. Financial Institutions and Services |
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SUBTITLE II. Depository Institutions and Trust Organizations |
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CHAPTER 8. Banks |
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ARTICLE 13. Receiverships |
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SECTION 6.2-912. Definition |
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As used in this article, "insolvent" or "insolvency" means incapable of meeting the current demands of creditors or having liabilities which, in total, exceed the book value of assets. Code 1950, § 6-114; 1966, c. 584, § 6.1-100; 1983, c. 507; 2010, c. 794 ; 2018, c. 794 . |