Code of Virginia § 8.01-587. Liability of general receivers.
100 words·~1 min read·
/va/title-8-01/chapter-22/8-01-587A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except as otherwise ordered by the court, for good cause shown, a general receiver shall be liable for any loss of income which results from his
(i)failure to invest any money held by him pursuant to §§ 8.01-582 through 8.01-586 within sixty days of his receipt of the funds or
(ii)failure to pay out any money so ordered by the court within sixty days of the court order. He shall be charged with interest from the date of the court order until such investment or payment is made.
Code 1950, § 8-730; 1977, c. 617; 1988, c. 841.