CODE OF VIRGINIA

PROTECTION OF ESCROW FUNDS, ETC., HELD BY PERSONS LICENSED BY ANY OF THE HEALTH
REGULATORY BOARDS (§ 54.1-2506.2)

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.

HISTORY: 1995, c. 738.