§ 15.2-5431.23 Disposition of unclaimed funds due on matured bonds or coupons
Any authority having bonds outstanding on which principal, premium or interest has matured for a period of more than five years may pay any money being held to pay the matured principal, premium or interest into the general fund of the authority. Thereafter, the owners of the matured bonds may look only to the authority for payment. The authority shall maintain a record of the bonds for which the funds were held.
History
This law was first created in 2003. The record of its establishment is cataloged in chapter 643 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2003, c. 643.