                                 CODE OF VIRGINIA

PROTECTION OF PRENEED BURIAL AND PERPETUAL CARE TRUST FUNDS; OPERATION OF
CEMETERY COMPANY; APPOINTMENT OF RECEIVER (§ 54.1-2313.1)

No licensee or any agent of the licensee shall divert or misuse any funds held
in trust or otherwise held by him for another. If preneed or perpetual care
funds are held in trust and the Board or its agents have reason to believe that
(i) the licensee is not able to adequately protect the interest of the person
involved; (ii) the licensee has had his license suspended, revoked, or
surrendered; and (iii) the conduct of the licensee or the operation of the
cemetery threatens the interests of the public, the Board shall file a petition
with any court of record having equity jurisdiction over the licensee or any of
the funds held by him stating the facts upon which it relies.
		The court may temporarily enjoin further activity by the licensee and take
such further action as shall be necessary to ensure that the cemetery company is
operated in full compliance with this chapter and the Board&#8217;s regulations,
or to conserve, protect, and disburse the funds involved, or both, including the
appointment of a receiver. If a receiver is appointed, the expenses of such
receivership and a reasonable fee, as determined by the court, shall be paid
from the assets of the cemetery company. The Board shall not be liable for any
expenses or fees of the receiver.

HISTORY: 2004, c. 192; 2022, c. 161.