Duties of the clerk; deposit of funds; investment of funds; failure to pay out

# A.

The clerk shall have the duty, unless it is otherwise specially ordered, to receive, take charge of and hold all moneys paid into the court and to pay out or dispose of these moneys as the court orders or decrees. To this end, the clerk is authorized to verify, receive, and give acquittances for all such moneys.

# B.

All moneys received by the clerk shall be deposited intact as soon as practical and secured in accordance with the Virginia Security for Public Deposits Act (§ 2.2-4400 et seq.).

# C.

The clerk may invest all moneys paid into the court in certificates of deposit, time deposits or in accordance with the provisions of Chapter 45 (§ 2.2-4500 et seq.) of Title 2.2. Unless otherwise provided by law or court order, all interest or investment income shall become income of the person or entity that paid the moneys to the clerk.

# D.

Except as otherwise ordered by the court, for good cause shown, the clerk shall be liable for any loss of income which results from his failure to pay out any money so ordered by the court within sixty days of the court order.

Last amended: 1991, c. 635.

Source: view the official text

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