8.01-587 - Liability of general receivers. - Virginia Statutes

§ 8.01-587. Liability of general receivers.

Except as otherwise ordered by the court, for good cause shown, a generalreceiver 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 through8.01-586 within sixty days of his receipt of the funds or (ii) failure to payout 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 suchinvestment or payment is made.

(Code 1950, § 8-730; 1977, c. 617; 1988, c. 841.)