Chap. 268.—An ACT to authorize courts administering or liquidating the estates
of insolvent banks or trust companies operating in Virginia, and upon petition
of trustees engaged in the voluntary liquidation of the estates of such
insolvents, to require creditors to act with diligence in obtaining satis-
tion of claims allowed therein upon penalty of having such claims barred.

{H B 279]
Approved March 25, 1936

1. Be it enacted by the General Assembly of Virginia, That
whenever in a pending suit, having for its object the administration
or liquidation of the assets of an insolvent bank or trust company
operating in Virginia, the court shall have ordered the payment to
creditors of dividends on or other payments of claims as therein
ascertained and established, and the receiver, special commissioner or
other person or officer charged with the duty of making the ordered
payments to creditors shall have been unable to effect such payment
by reason of inability to ascertain the address of any creditor or the
failure of any creditor to apply to such disbursing official for pay-
ment when so directed by the order of the court or for any other
similar reason, or whenever a trustee or trustees engaged in the
voluntary liquidation of the assets of an insolvent bank or trust com-
pany operating in Virginia by petition to any court of general juris-
diction in the county or city wherein the principal office of such
insolvent bank or trust company operating in Virginia is located,
shall allege and show to the satisfaction of the court his or their
inability to make payment to creditors for the reasons specified
herein, the court, in its discretion, may enter an order directing its
receiver, special commissioner or other person or officer charged with
the duty of making such payments, or said trustee or trustees, to
publish in some newspaper, having a general circulation in the
county or city where such suit or petition is pending, at least twice,
a list of creditors to whom dividends or payments are due and unpaid
and the amount thereof, together with a notice that any creditor
therein named who shall fail to apply to said disbursing official for
payment of the amount due him or her within six months from the
date of the last publication of such notice will be barred from his or
her right to thereafter receive payment of amounts then due and
from participation in any future dividends or payments which may
thereafter be ordered. After the lapse of six months from the date
of the last publication of the notice aforesaid, the court shall enter
an order barring the claims of all creditors who have not theretofore
applied for payment of their claims, and thereafter no creditor who
shall have failed to apply for payment within such period shall bring
or maintain any action, suit or proceeding, nor shall any process
issue for the enforcement of any claim to dividends or payments
previously ordered paid to such creditor nor shall such creditor
participate in future dividends or payments thereafter ordered in
said suit or petition to be paid; provided, however, that the court in
which any such suit or petition is pending may, in its discretion,
before final distribution for good cause shown, reinstate any claim
barred as aforesaid.