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1995 SESSION
LD4768308Patrons--Johnson, Almand, Bennett, Brickley, Cohen, Copeland, Cranwell, Davies, Jackson, Jones, J.C., Melvin, Moore, Murphy, Phillips, Reynolds, Stump and Woodrum
Be it enacted by the General Assembly of Virginia:
1. That § 8.01-55 of the Code of Virginia is amended and reenacted as follows:
§ 8.01-55. Compromise of claim for death by wrongful act.
The personal representative of the deceased may compromise any claim to
damages arising under or by virtue of § 8.01-50, including claims under the
provision of a liability insurance policy, before or after an
action is brought, with the approval of the court
wherein any such in which the action has been
was brought, or if none has an action has
not been brought, with the consent of any circuit court. Such approval
may be applied for on petition to such court, by the personal representative,
or by any potential defendant, or by any interested insurance carrier. If
such a potential defendant or any insurance carrier
petitions the court for approval, the personal representative shall be made a
party to the proceeding. The petition shall state the compromise,
the its terms thereof and the reason
therefor, and the. The court shall require the
convening of the parties in interest in person or by their authorized
representative, but it shall not be necessary to convene grandchildren whose
living parents are made parties to the proceeding. The parties in
interest shall be deemed to be convened if each such party (i) endorses the
order by which the court approves the compromise or (ii) is given notice of
the hearing and proposed compromise as provided in § 8.01-296 if a resident
of the Commonwealth or as provided in § 8.01-320 if a nonresident, or is
otherwise given reasonable notice of the hearing and proposed compromise as
may be required by the court.
If the court approves the compromise, and the parties in interest do not agree upon the distribution to be made of what has been or may be received by the personal representative under such compromise, or if any of them are incapable of making a valid agreement, the court shall direct such distribution as a jury might direct under § 8.01-52 as to damages awarded by them. In other respects, what is received by the personal representative under the compromise shall be treated as if recovered by him in an action under § 8.01-52.