54.1-2506.2 - Protection of escrow funds, etc., held by persons licensed by any of the health regulatory boards. - Virginia Statutes

§ 54.1-2506.2. Protection of escrow funds, etc., held by persons licensed byany of the health regulatory boards.

Whenever funds are held in escrow, in trust, or in some other fiduciarycapacity by a person licensed by any of the health regulatory boards and theDirector or investigative personnel appointed by him have reason to believethat such person is not able or is unwilling to adequately protect such fundsor the interest of any person therein, the Director may file a petition withany court of record having equity jurisdiction over such person or any of thefunds held by such person stating the facts upon which he relies. The courtmay temporarily enjoin further activity by such person and take such furtheraction as shall be necessary to conserve, protect and disburse the fundsinvolved, including the appointment of a receiver. If a receiver is appointedhis expenses and a reasonable fee as determined by the court shall be paid bysuch person.

(1995, c. 738.)