8.01-596 - No sale prior to such notification; exceptions. - Virginia Statutes

§ 8.01-596. No sale prior to such notification; exceptions.

No court shall order the sale of any assets of the receivership until areceiver has reported to the court in writing that he has mailed such noticesto such creditors at least five days prior to the filing of such report,except that the court may at any time permit the sale of perishable orseasonable goods when necessary to preserve the estate, or may permit thereceiver to conduct the business for which he is a receiver as a goingbusiness and to sell in the usual course of such business.

(Code 1950, § 8-740; 1977, c. 617.)