                                 CODE OF VIRGINIA

MANAGEMENT POWERS AND DUTIES OF CONSERVATOR (§ 64.2-2022)

A. A conservator, in managing the estate, shall have the powers set forth in §
64.2-105 as of the date the conservator acts as well as the following powers,
which may be exercised without prior court authorization except as otherwise
specifically provided in the court&#8217;s order of appointment:

   1. To ratify or reject a contract entered into by an incapacitated person;

   2. To pay any sum distributable for the benefit of the incapacitated person or
   for the benefit of a legal dependent by paying the sum directly to the
   distributee, to the provider of goods and services, to any individual or
   facility that is responsible for or has assumed responsibility for care and
   custody, or to a distributee&#8217;s custodian under a Uniform Gifts or
   Transfers to Minors Act of any applicable jurisdiction or by paying the sum to
   the guardian of the incapacitated person or, in the case of a dependent, to
   the dependent&#8217;s guardian or conservator;

   3. To maintain life, health, casualty, and liability insurance for the benefit
   of the incapacitated person or his legal dependents;

   4. To manage the estate following the termination of the conservatorship until
   its delivery to the incapacitated person or successors in interest;

   5. To execute and deliver all instruments and to take all other actions that
   will serve in the best interests of the incapacitated person;

   6. To initiate a proceeding (i) to revoke a power of attorney under the
   provisions of the Uniform Power of Attorney Act (&#xA7; 64.2-1600 et seq.),
   (ii) to make an augmented estate election under &#xA7; 64.2-302 or
   64.2-308.13, as applicable, or (iii) to make an election to take a family
   allowance, exempt property, or a homestead allowance under &#xA7; 64.2-313;
   and

   7. To borrow money for periods of time and upon terms and conditions for
   rates, maturities, renewals, and security that to the conservator shall seem
   advisable, including the power to borrow from the conservator, if the
   conservator is a bank, for any purpose; to mortgage or pledge the portion of
   the incapacitated person&#8217;s estate that may be required to secure the
   loan or loans; and, as maker or endorser, to renew existing loans.

B. The court may impose requirements to be satisfied by the conservator prior to
the conveyance of any interest in real estate, including (i) increasing the
amount of the conservator&#8217;s bond, (ii) securing an appraisal of the real
estate or interest, (iii) giving notice to interested parties as the court deems
proper, (iv) consulting by the conservator with the commissioner of accounts
and, if one has been appointed, with the guardian, and (v) requiring the use of
a common source information company, as defined in &#xA7; 54.1-2130, when
listing the property. If the court imposes any such requirements, the
conservator shall make a report of his compliance with each requirement, to be
filed with the commissioner of accounts. Promptly following receipt of the
conservator&#8217;s report, the commissioner of accounts shall file a report
with the court indicating whether the requirements imposed have been met and
whether the sale is otherwise consistent with the conservator&#8217;s duties.
The conveyance shall not be closed until a report by the commissioner of
accounts is filed with the court and confirmed as provided in &#xA7;&#xA7;
64.2-1212, 64.2-1213, and 64.2-1214.

HISTORY: 1997, c. 921, § 37.1-137.4; 2004, cc. 652, 756; 2005, c. 716, §
37.2-1023; 2007, c. 694; 2010, cc. 455, 632; 2012, c. 614; 2013, c. 523; 2016,
cc. 187, 269.