reglab/housing_qa huggingface dataset:
VA Code § 55.1-2523 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2523. Interstate agreements and cooperation

A. The administrator may enter into agreements with other states to exchange information needed to enable the Commonwealth or another state to audit or otherwise determine unclaimed property to which the Commonwealth or another state may be entitled subject to a claim of custody. The administrator may by rule require the reporting of information needed to enable compliance with agreements made pursuant to this section and prescribe the form.B. To avoid conflicts between the administrator's procedures and the procedures of administrators in other jurisdictions that enact the Uniform Unclaimed Property Act, the administrator shall, so far as is consistent with the purposes, policies, and provisions of this chapter, before adopting, amending, or repealing rules, advise and consult with administrators in other jurisdictions that enact substantially the Act and take into consideration the rules of administrators in other jurisdictions that enact the Act.C. The administrator may join with other states to seek enforcement of the Act against any person who is or may be holding property reportable under the Act. At the request of another state, the Attorney General of the Commonwealth may bring an action in the name of the administrator of the other state in any court of competent jurisdiction to enforce the unclaimed property laws of the other state against a holder in the Commonwealth of property subject to escheat or a claim of abandonment by the other state, if the other state has agreed to pay expenses incurred by the Attorney General in bringing the action.Similarly, the administrator may request that the Attorney General of another state, or any other person, bring an action in the other state in the name of the administrator. The Commonwealth shall pay all expenses, including attorney fees, in any such action, and such expenses shall not be deducted from the amount that is subject to the claim by the owner under this chapter.1984, c. 121, § 55-210.11:01; 2019, c. 712.
VA Code § 55.1-2525 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2525. Notices to be published by administrator

A. The administrator shall cause to be published notice of the report filed under subsection D of § 55.1-2524 once each year in a newspaper of general circulation in the area in which the last known address of any person to be named in the notice is located. If no address is listed or if the address is outside of the Commonwealth, the notice shall be published in the area in which the holder of the abandoned property has his principal place of business.B. The published notice shall be entitled "Commonwealth of Virginia Unclaimed Property List" and shall contain:1. The names in alphabetical order and account numbers of persons listed in the report and entitled to notice within the area as specified in subsection A; and2. A statement that information concerning the amount or description of the property and the name and address of the holder may be obtained by any persons possessing an interest in the property by addressing an inquiry to the administrator.C. The administrator is not required to publish in such notice any item of less than $100 unless he deems such publication to be in the public interest.1960, c. 330, § 55-210.13; 1981, c. 47; 1983, c. 190; 1987, c. 236; 1988, c. 378; 1990, c. 460; 2000, cc. 733, 745; 2019, c. 712.
VA Code § 55.1-2526 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2526. Holder relieved of liability for property paid or delivered to administrator; payment to owner by holder; proceedings against prior holder; notice to administrator and Attorney General; reimbursement of holder

A. Upon the payment or delivery of abandoned property to the administrator, the Commonwealth shall assume custody and shall be responsible for the safekeeping of such property. Any person who pays or delivers abandoned property to the administrator under this chapter is relieved of all liability to the extent of the value of the property so paid or delivered for any claim that then exists or that thereafter may arise or be made in respect to the property. Any holder that has paid moneys to the administrator pursuant to this chapter may make payment to any person appearing to such holder to be entitled thereto, and upon proof of such payment and proof that the payee was entitled thereto, the administrator shall forthwith reimburse the holder for the payment.B. In the event that legal proceedings are instituted against a prior holder in a court of the Commonwealth, or in any other state or federal court, by any other state claiming to be entitled to unclaimed funds or abandoned property previously paid or delivered to the administrator, such holder shall give written notice to the administrator and the Attorney General of the Commonwealth of such proceedings (i) within 10 days after service of process or (ii) at least 10 days before the return date on which an answer or similar pleading is required to be filed. The Attorney General may intervene or take such other action as he deems appropriate or necessary to protect the interests of the Commonwealth.C. If the notice provided in subsection B is given by the holder and thereafter a judgment is entered against the holder for any amount paid to the administrator pursuant to the terms of this chapter, the administrator shall, upon being furnished with proof thereof, return to the holder the amount of such judgment, not to exceed, however, the amount of the abandoned property paid to the administrator.D. Property removed from a safe deposit box or other safekeeping repository that is received by the administrator shall be subject to the holder's right under this subsection to be reimbursed for the actual cost of the opening and to any valid lien or contract providing for the holder to be reimbursed for unpaid rent or storage charges. The administrator shall make the reimbursement to the holder out of the proceeds remaining after the deduction of the administrator's selling cost.1960, c. 330, § 55-210.15; 1964, c. 466; 1984, c. 121; 2019, c. 712.
VA Code § 55.1-2527 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2527. Crediting of dividends, interest, or increments to owner's account

Whenever property other than money is paid or delivered to the administrator under this chapter, the owner is entitled to receive from the administrator any dividends, interest, or other increments realized or accruing on the property at or before liquidation or conversion of such property into money.1984, c. 121, § 55-210.16:1; 2019, c. 712.
VA Code § 55.1-2528 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2528. Periods of limitation

A. The expiration of any period of time specified by statute or court order during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or recovery of property shall not prevent the money or property from being presumed abandoned property or affect any duty to file a report required by this chapter or to pay or deliver abandoned property to the administrator.B. Except as provided in subsection C, an action or proceeding shall not be maintained by the administrator to enforce this chapter more than five years after the earlier of (i) the date on which the holder identified the property on a report filed with the administrator, (ii) the date on which the holder first filed a report with the administrator wherein the holder should have but failed to report the property, or (iii) the date on which the holder filed a report with the administrator giving reasonable notice to the administrator of a dispute regarding the property.C. An action or proceeding shall not be maintained by the administrator to enforce this chapter with respect to any property more than 10 years following the date on which such property first became reportable if the holder (i) filed a materially false or fraudulent report with the intent to evade delivery of property otherwise subject to this chapter or (ii) failed to file a report with the administrator.1960, c. 330, § 55-210.17; 2000, cc. 733, 745; 2019, c. 712.
VA Code § 55.1-2530 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2530. Securities received in name of owner

Whenever the administrator receives securities under this chapter in the name of the owner, he shall take appropriate action to transfer the record of ownership of such securities into the title of the State Treasurer of the Commonwealth of Virginia as soon as practical.1981, c. 47, § 55-210.18:1; 2019, c. 712.
VA Code § 55.1-2531 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2531. Disposition of funds received under chapter; records to be kept by administrator

A. All funds received under this chapter, including the proceeds from the sale of abandoned property under § 55.1-2529, shall be deposited by the administrator in the Literary Fund of the Commonwealth as soon as practical, except that the administrator shall retain in a separate trust fund a sum sufficient from which he shall make prompt payment of claims duly allowed by him as provided by subsection B. Before making the deposit, he shall record the name and last known address of each person appearing from the holders' reports to be entitled to the abandoned property, the name and last known address of each insured person or annuitant, and, with respect to each policy or contract listed in the report of an insurance corporation, its number, the name of the corporation, and the amount due.B. Before making any deposit to the credit of the Literary Fund, the administrator may deduct (i) any costs in connection with the sale of abandoned property, (ii) any costs of mailing and publication in connection with any abandoned property, (iii) operating expenses, and (iv) amounts required to make payments to other states, during the next fiscal year, through reciprocity agreements.1960, c. 330, § 55-210.19; 1981, c. 47; 1984, c. 121; 1985, c. 294; 2019, c. 712.
VA Code § 55.1-2533 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2533. Consideration of and hearing on claim by administrator; payment; interest

A. The administrator shall consider any claim for property held by the administrator pursuant to the provisions of this chapter that is filed under this chapter and may hold a hearing and receive evidence concerning such claim. If a hearing is held, he shall prepare a finding and a decision in writing on each claim filed, stating the substance of any evidence heard by him and the reasons for his decision. The decision shall be a public record.B. If the claim is allowed, the administrator shall make payment as soon as practical. The administrator is authorized to deduct from the claim the costs for notices, sales, and other related incurred expenses.C. The administrator shall add interest at the rate of five percent or such lesser rate as the property earned while in the possession of the holder, compounded annually, to the amount of any claim paid to the owner, if the property claimed was interest-bearing to the owner while in the possession of the holder. If the holder fails to report an applicable rate of interest, the interest rate will be set at five percent or such lesser rate as determined by the one-year Treasury Constant Maturity Rate as published by the Board of Governors of the Federal Reserve System as of November 1 of the report year. Such interest shall begin to accumulate on the date the property is delivered to the administrator and shall cease on the date on which payment is made to the owner. No interest shall be payable for any period prior to July 1, 1981.1960, c. 330, § 55-210.21; 1981, c. 47; 2000, cc. 733, 745; 2004, c. 523; 2005, c. 118; 2019, c. 712.
VA Code § 55.1-2534 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2534. Judicial review of decision of administrator

Any person aggrieved by an act or decision of the administrator with respect to a claim for property held by the administrator pursuant to the provisions of this chapter may commence an action in the circuit court of the county or city in which the property claimed is situated to establish his claim. The proceeding shall be brought within three years after the decision of the administrator or, if the administrator fails to act, within three years from the filing of the claim.1960, c. 330, § 55-210.22; 2000, cc. 733, 745; 2019, c. 712.
VA Code § 55.1-2535 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2535. Election of administrator not to receive property or to postpone taking possession of funds

The administrator, after receiving reports of property deemed abandoned pursuant to this chapter, may decline to receive any property reported that he deems to have a value less than the cost of giving notice and holding sale, or he may, if he deems it desirable because of the small sum involved, postpone taking possession until a sufficient sum accumulates. Unless the holder of the property is notified to the contrary within 120 days after filing the report required under § 55.1-2524, the administrator shall be deemed to have elected to receive the custody of the property.1960, c. 330, § 55-210.23; 2019, c. 712.
VA Code § 55.1-2536 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2536. Requests for verified reports and examinations of records

A. Except as otherwise provided in this chapter, the administrator may require any person that has not filed a report to file a verified report stating whether or not the person is holding any unclaimed property reportable or deliverable under this chapter.B. Except as otherwise provided in this chapter, the administrator may at reasonable times and upon reasonable notice examine the records of any person to determine whether the person has complied with the provisions of this chapter. The administrator may conduct the examination even if the person believes it is not in possession of any property reportable or deliverable under this chapter. The administrator may examine all necessary records to determine the amount, if any, of property that would have been reportable or deliverable under this chapter for the 10 years prior to the fiscal year end preceding the opening of the examination; however, for any holder that has not previously filed any report under this chapter, the administrator may examine property presumed abandoned for report year 1985 and subsequent years.C. If a holder fails to maintain the records required by § 55.1-2537 and the records of the holder available for the periods subject to this chapter are insufficient to permit the preparation of a report, the holder shall be required to report and pay such amounts as may reasonably be estimated from any available records.D. The administrator may contract with a person who is not an employee of the Commonwealth to perform an audit or examination under this article; however, with respect to any holder that is domiciled in the Commonwealth or that maintains its principal place of business in the Commonwealth, no such contract shall (i) be on a contingency fee basis or (ii) permit statistical estimation without the consent of the holder.1960, c. 330, § 55-210.24; 1983, c. 190; 1985, c. 294; 1991, c. 357; 2000, cc. 733, 745; 2019, c. 712.
VA Code § 55.1-2537 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2537. Retention of records

A. Every holder required to file a report under § 55.1-2524, shall retain all books, records, and documents necessary to establish the accuracy and compliance of such report for five years after the report is filed pursuant to subsection B of § 55.1-2524. If no report is filed, the holder shall retain such books, records, and documents for 10 years after the property becomes reportable, except to the extent that shorter time is provided in accordance with the Virginia Public Records Act (§ 42.1-76 et seq.), in accordance with subsection B, or by rule of the administrator. As to any property for which it has obtained the last known address of the owner, the holder shall maintain a record of the name and last known address of the owner for the same retention period.B. Any business association that sells in the Commonwealth its traveler's checks, money orders, or other similar written instruments, other than third-party bank checks on which the business association is directly liable, or that provides such instruments to others for sale in the Commonwealth, shall maintain a record of those instruments while they remain outstanding, indicating the state and date of issue for three years after the date the property is reportable.1983, c. 190, § 55-210.24:1; 1985, c. 294; 1988, c. 378; 2000, cc. 733, 745; 2019, c. 712.
VA Code § 55.1-2538 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2538. Confidentiality of information and records

Any information or records required to be furnished to the Division of Unclaimed Property shall be confidential except as is otherwise necessary in the proper administration of this chapter.1988, c. 378, § 55-210.24:2; 2019, c. 712.
VA Code § 55.1-2539 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2539. Enforcement of chapter

The administrator may bring an action in a court of competent jurisdiction to enforce this chapter. The administrator shall commence enforcement for compliance with the provisions of this chapter within the period specified in § 55.1-2528. The holder may waive in writing the protection of this section.1960, c. 330, § 55-210.25; 1983, c. 190; 1988, c. 643; 1991, c. 357; 2000, cc. 733, 745; 2019, c. 712.
VA Code § 55.1-2540 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2540. Interest and penalties

A. Any person who fails to pay or deliver property within the time prescribed by this chapter shall be required to pay to the administrator interest at the same annual rate as is applicable to delinquent taxes under § 58.1-1812 on the property or value thereof from the date the property should have been paid or delivered. Such interest rate shall vary with the rate specified in § 58.1-1812.B. Any person who does not exercise due diligence as defined in § 55.1-2500 shall pay a civil penalty not to exceed $50 for each account upon which due diligence was not performed.C. Except as otherwise provided in subsection D, a holder that (i) fails to report, pay, or deliver property within the time prescribed by this chapter; (ii) files a false report; or (iii) fails to perform other duties imposed by this chapter without good cause shall pay to the administrator, in addition to interest as provided in subsection A, a civil penalty of $100 for each day the report, payment, or delivery is withheld or the duty is not performed, up to a maximum of the lesser of $10,000 or 25 percent of the value of the property that should have been but was not reported.D. A holder that (i) willfully fails to report, pay, or deliver property within the time prescribed by this chapter; (ii) willfully fails to perform other duties imposed by this chapter without good cause; or (iii) makes a fraudulent report to the administrator shall pay to the administrator, in addition to interest as provided in subsection A, a civil penalty of $1,000 for each day the report, payment, or delivery is withheld or the duty is not performed, up to a maximum of the lesser of $50,000 or 100 percent of the value of the property that should have been but was not reported.E. The administrator for good cause may waive, in whole or in part, interest under subsection A and penalties under subsections B, C, and D. All civil penalties shall be payable to the State Treasurer and credited to the Literary Fund.1984, c. 121, § 55-210.26:1; 1988, c. 378; 1992, c. 583; 2000, cc. 733, 745; 2019, c. 712.
VA Code § 55.1-2542 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2542. Agreements to locate reported property; penalty

A. It is unlawful for any person to seek or receive from another person or contract with another person for a fee or compensation for locating property that he knows has been reported or paid or delivered to the administrator pursuant to this chapter prior to 36 months after the date of delivery of the property by the holder to the administrator as required by this chapter.B. No agreement entered into after 36 months from the required date of delivery of the property by the holder to the administrator is valid if a person thereby undertakes to locate property included in a report for a fee or other compensation exceeding 10 percent of the value of the recoverable property. Nothing in this section shall be construed to prevent an owner from asserting at any time that an agreement to locate property is based upon an excessive or unjust consideration.C. State warrants that may be issued in payment and redemption of previously abandoned property or the liquidation proceeds of previously abandoned property may be issued in the discretion of the administrator directly to the person entitled to the money as the owner, heir, or legatee, or as fiduciary of the estate of the deceased owner, heir, or legatee, and not to a named attorney-in-fact, agent, or assignee or any other person regardless of a written instruction to the contrary. The administrator need not recognize nor is the administrator bound by any terms of a purported power of attorney or assignment that may be presented as having been executed by a person as the purported owner, heir, legatee, or fiduciary of the estate of a deceased owner of such abandoned property.D. A person who violates subsection A or B is guilty of a misdemeanor, punishable by a fine not to exceed $1,000.1981, c. 47, § 55-210.27:1; 1988, c. 378; 2019, c. 712.
VA Code § 55.1-2543 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2543. Property presumed abandoned or escheated under laws of another state

This chapter shall not apply to any property that has been presumed abandoned or escheated under the laws of another state prior to January 1, 1961.1960, c. 330, § 55-210.28; 2019, c. 712.
VA Code § 55.1-2544 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2544. Property held or payable pursuant to Title 51.1

This chapter shall not apply to any funds or other property, tangible or intangible, held or payable pursuant to Title 51.1.1983, c. 308, § 55-210.28:1; 2019, c. 712.
VA Code § 55.1-2545 (2021)
2021 Code of Virginia|Title 55.1 - Property and Conveyances|Chapter 25 - Virginia Disposition of Unclaimed Property Act|§ 55.1-2545. Construction of chapter

This chapter shall be construed so as to effectuate its general purpose to make uniform the law of those states that enact it.1960, c. 330, § 55-210.29; 2019, c. 712.