CHAPTER 380

An Act to amend and reenact § 8-685, as amended, of the Code of Virginia,
relating to proceeds from judicial sale of lands. _
[S 270]

Approved April 2, 1968

Be it enacted by the General Assembly of Virginia:

1. That § 8-685, as amended, of the Code of Virginia be amended and
reenacted as follows:

§ 8-685. How proceeds from disposition to be secured and applied;
when same may be paid over.—The proceeds of sale, or rents, income, or
royalties, arising from the sale or lease, or other disposition, of lands of
persons under disabilities, whether in a suit for sale or lease thereof, or in
a suit for partition, or in condemnation proceedings, shall be invested
under the direction of the court for the use and benefit of the persons
entitled to the estate; and in case of a trust estate subject to the uses,
limitations, and conditions, contained in the writing creating the trust.
The court shall take ample security for all investments so made, and from
time to time require additional security, if necessary, and make any proper
order for the faithful application and safe investment of the fund, and for
the management and preservation of any properties or securities in which
the same has been invested, and for the protection of the rights of all
persons interested therein, whether such rights be vested or contingent,
but nothing hereinbefore contained shall prevent the court having charge
thereof from directing such funds when the sum to be distributed on behalf
of any one person does not exceed two thousand five hundred dollars, to be
paid over to the legally appointed and qualified guardian, committee or
trustee of the infant or insane, incapacitated or ex-service person, when-
ever the court is satisfied that the guardian, committee or trustee has
executed sufficient bond. * Provided, however, that if such funds do not
exceed two thousand five hundred dollars, the court, in its discretion and
without the intervention of a guardian or committee, may pay such funds
to either or both parents of the person under disability. Such funds not in
excess of two thousand five hundred dollars shall, when paid over to the
guardian, committee or parent, be deemed personal property.