Virginia § 8.01-583 - How securities taken and kept; power of receivers over same
Full text of Virginia Code of Virginia § 8.01-583 — How securities taken and kept; power of receivers over same, with citation guidance and answers to common questions.
§ 8.01-583. How securities taken and kept; power of receivers over same
The securities in which under the orders of the court such investments may be made shall be taken in the name of the general receiver and be kept by him, unless otherwise specially ordered. He shall have power to sell, transfer or collect the same, only upon order of the court; and in case of his death, resignation or removal his successor, or any person specially appointed by the court for that purpose, shall have like power.
Notwithstanding the foregoing paragraph, when a general receiver places funds in a security or investment which is insured by the Federal Deposit Insurance Corporation or other federal insurance agency, the general receiver shall to the extent practicable invest these funds so that insurance coverage is provided by the Federal Deposit Insurance Corporation or other federal insurance agency.
Code 1950, § 8-726; 1977, c. 617; 1988, c. 553; 1990, c. 3.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 8.01-583
What does Code of Virginia § 8.01-583 cover?
Section 8.01-583 ("How securities taken and kept; power of receivers over same") 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 § 8.01-583?
A common citation format is "Code of Virginia § 8.01-583" (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 § 8.01-583 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.