                                 CODE OF VIRGINIA

APPOINTMENT OF GENERAL RECEIVERS; THEIR DUTIES; AUDIT OF FUNDS (§ 8.01-582)

Any circuit court may appoint a general receiver of the court, who may be the
clerk of the court, and who shall hold his office at its pleasure. The general
receiver&#8217;s duty shall be, unless it is otherwise specially ordered, to
receive, take charge of and hold all moneys paid under any judgment, order or
decree of the court, and also to pay out or dispose of same as the court orders
or decrees. Moneys held pursuant to this section shall be deemed public deposits
as set forth in Chapter 44 (§ 2.2-4400 et seq.) of Title 2.2 and shall be
invested in certificates of deposit or time deposits, and in accordance with the
provisions of Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2, as ordered by the
court. Prior to or at the time of entry of any judgment, order or decree placing
moneys under the control of the general receiver for the benefit of any
specifically identified beneficiary, the general receiver shall file an
affidavit with the court providing the beneficiary&#8217;s name, date of birth,
and social security number, as well as the proposed dates of final and periodic
disbursements. Such affidavit shall be maintained under seal by the clerk unless
otherwise ordered by the court, and the information therein shall be used solely
for the purposes of financial management and reporting. Orders creating funds
pursuant to this section shall include information necessary to make prudent
investment and disbursement decisions but shall not include the personal
identifying information set forth in the general receiver&#8217;s affidavit.
		Unless otherwise ordered by the court, the provisions of this section shall
not apply to:

1. Cash or other money received in lieu of surety on any bond posted in any
civil or criminal case, including but not limited to, bail bonds, appeal bonds
in appeals from a district court or circuit court, bonds posted in connection
with the filing of an attachment, detinue seizure or distress, suspending bonds,
and performance bonds;

2. Cash or other money paid or deposited in the clerk&#8217;s office prior to
final disposition of the case, including but not limited to interpleaders or
eminent domain; or

3. Cash or other money deposits in lieu of surety on any bond posted in the
clerk&#8217;s office which is not posted in connection with any civil or
criminal case, including bonds posted by executors or administrators.
			To this end, the general receiver is authorized to verify, receive, and give
acquittances for all such moneys, as the court may direct. Any interest which
accrues on the funds, minus allowable fees and bond costs, shall be credited and
payable to the person or persons entitled to receive such funds.
			All moneys received under this section are subject to audit by the Auditor of
Public Accounts. The Auditor of Public Accounts shall prescribe mandatory record
keeping and accounting standards for general receivers.

HISTORY: Code 1950, § 8-725; 1973, c. 354; 1977, c. 617; 1979, c. 498; 1988, c.
553; 1990, c. 414; 1991, c. 635; 1999, c. 198; 2003, c. 97.