Virginia § 54.1-2506.2 - Protection of escrow funds, etc., held by persons licensed by any of the health regulatory boards
Full text of Virginia Code of Virginia § 54.1-2506.2 — Protection of escrow funds, etc., held by persons licensed by any of the health regulatory boards, with citation guidance and answers to common questions.
§ 54.1-2506.2. Protection of escrow funds, etc., held by persons licensed by any of the health regulatory boards
Whenever funds are held in escrow, in trust, or in some other fiduciary capacity by a person licensed by any of the health regulatory boards and the Director or investigative personnel appointed by him have reason to believe that such person is not able or is unwilling to adequately protect such funds or the interest of any person therein, the Director may file a petition with any court of record having equity jurisdiction over such person or any of the funds held by such person stating the facts upon which he relies. The court may temporarily enjoin further activity by such person and take such further action as shall be necessary to conserve, protect and disburse the funds involved, including the appointment of a receiver. If a receiver is appointed his expenses and a reasonable fee as determined by the court shall be paid by such person.
1995, c. 738.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 54.1-2506.2
What does Code of Virginia § 54.1-2506.2 cover?
Section 54.1-2506.2 ("Protection of escrow funds, etc., held by persons licensed by any of the health regulatory boards") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 54.1-2506.2?
A common citation format is "Code of Virginia § 54.1-2506.2" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 54.1-2506.2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.