Bill Text: VA SB183 | 2022 | Regular Session | Comm Sub
Bill Title: Cemetery Board; appointment of receiver upon revocation or surrender of license to operate cemetery.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2022-04-07 - Governor: Acts of Assembly Chapter text (CHAP0161) [SB183 Detail]
Download: Virginia-2022-SB183-Comm_Sub.html
Be it enacted by the General Assembly of Virginia:
1. That §54.1-2313.1 of the Code of Virginia is amended and reenacted as follows:
§54.1-2313.1. Protection of preneed burial and perpetual care trust funds; operation of cemetery company; appointment of receiver.
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,; or
and (iii) the conduct of the licensee or the operation of the cemetery
threatens the interests of the public, the Board may 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 and
the relief requested.
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's regulations, or to conserve, protect, and disburse the funds involved,
or both, including the appointment of a receiver to operate. 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.
