Virginia Code 6.2-937: Destruction of records
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Subject to the approval of the receivership court, the closed bank‘s records may be destroyed after the FDIC, as receiver, determines that there is no further need for them.
Terms Used In Virginia Code 6.2-937
- Bank: means any bank or trust company organized under the laws of the Commonwealth. See Virginia Code 6.2-925
- FDIC: means the Federal Deposit Insurance Corporation. See Virginia Code 6.2-800
- Receivership court: means the circuit court that appoints a receiver for a bank pursuant to this article. See Virginia Code 6.2-925
1983, c. 507, § 6.1-110.13; 2010, c. 794.