Code of Virginia § 54.1-2506.2. Protection of escrow funds, etc., held by persons licensed by any of the health regulatory boards.
151 words·~1 min read·
/va/title-54-1/chapter-25/54-1-2506-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Whenever funds are held in escrow, in trust, or in some other fiduciary capacity by a person licensed by any of the health regulatory boards and the Director or investigative personnel appointed by him have reason to believe that such person is not able or is unwilling to adequately protect such funds or the interest of any person therein, the Director may file a petition with any court of record having equity jurisdiction over such person or any of the funds held by such person stating the facts upon which he relies.
The court may temporarily enjoin further activity by such person and take such further action as shall be necessary to conserve, protect and disburse the funds involved, including the appointment of a receiver. If a receiver is appointed his expenses and a reasonable fee as determined by the court shall be paid by such person.
1995, c. 738 .