{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/45.2-605.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/45.2-605.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/45.2-605.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/45.2-605.html"}],"law_id":68365,"edition_id":1,"section_id":68365,"structure_id":15376,"section_number":"45.2-605","catch_line":" Duty of trustee; sale of lease; distribution of funds","history":"2003, c. 775, \u00a7 45.1-161.311:6; 2021, Sp. Sess. I, c. 387.","full_text":"A\n\nThe trustee shall collect the proceeds from the sale of the lease and hold and invest such proceeds for the use and benefit of the unknown or missing owners. The court may authorize the trustee to expend an amount not to exceed 10 percent of the funds collected by the trustee for the purpose of searching for the unknown or missing owners.B\n\nFive years after the date of first commercial production of the coal interests, the proceeds in the trust shall be disposed of pursuant to the Virginia Disposition of Unclaimed Property Act (§ 55.1-2500 et seq.).","order_by":null,"text":{"0":{"id":247592,"text":"The trustee shall collect the proceeds from the sale of the lease and hold and invest such proceeds for the use and benefit of the unknown or missing owners. The court may authorize the trustee to expend an amount not to exceed 10 percent of the funds collected by the trustee for the purpose of searching for the unknown or missing owners.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":247593,"text":"Five years after the date of first commercial production of the coal interests, the proceeds in the trust shall be disposed of pursuant to the Virginia Disposition of Unclaimed Property Act (§ 55.1-2500 et seq.).","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":15376,"edition_id":1,"name":"Trusts for Coal Interests","identifier":"2","label":"article","depth":5,"order_by":1,"parent_id":15154,"metadata":{},"date_created":"2026-06-26 03:54:26","date_modified":"2026-06-26 03:54:26","permalink":{"id":223013,"object_type":"structure","relational_id":15376,"identifier":"2","token":"45.2\/II\/A\/6\/2","url":"\/45.2\/II\/A\/6\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":15154,"edition_id":1,"name":"Coal Mining Property, Interests, Adjacent Owners, and Dams","identifier":"6","label":"chapter","depth":4,"order_by":1,"parent_id":13784,"metadata":{},"date_created":"2026-06-26 03:52:34","date_modified":"2026-06-26 03:52:34","permalink":{"id":223001,"object_type":"structure","relational_id":15154,"identifier":"6","token":"45.2\/II\/A\/6","url":"\/45.2\/II\/A\/6\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13784,"edition_id":1,"name":"Coal Mines Generally","identifier":"A","label":"part","depth":3,"order_by":1,"parent_id":12985,"metadata":{},"date_created":"2026-06-26 03:45:52","date_modified":"2026-06-26 03:45:52","permalink":{"id":222649,"object_type":"structure","relational_id":13784,"identifier":"A","token":"45.2\/II\/A","url":"\/45.2\/II\/A\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12985,"edition_id":1,"name":"Coal Mining","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12713,"metadata":{},"date_created":"2026-06-26 03:44:06","date_modified":"2026-06-26 03:44:06","permalink":{"id":222647,"object_type":"structure","relational_id":12985,"identifier":"II","token":"45.2\/II","url":"\/45.2\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12713,"edition_id":1,"name":"Mines, Minerals, and Energy","identifier":"45.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":222539,"object_type":"structure","relational_id":12713,"identifier":"45.2","token":"45.2","url":"\/45.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":79067,"structure_id":15376,"section_number":"45.2-602","catch_line":" Petition to establish a trust for missing coal owners","url":"\/45.2-602\/","token":"45.2\/II\/A\/6\/2\/45.2-602","metadata":false},{"id":58553,"structure_id":15376,"section_number":"45.2-603","catch_line":" Advertisement upon filing of petition","url":"\/45.2-603\/","token":"45.2\/II\/A\/6\/2\/45.2-603","metadata":false},{"id":79463,"structure_id":15376,"section_number":"45.2-604","catch_line":" Court may declare trust; trustee sale of lease","url":"\/45.2-604\/","token":"45.2\/II\/A\/6\/2\/45.2-604","metadata":false},{"id":68365,"structure_id":15376,"section_number":"45.2-605","catch_line":" Duty of trustee; sale of lease; distribution of funds","url":"\/45.2-605\/","token":"45.2\/II\/A\/6\/2\/45.2-605","metadata":false},{"id":86073,"structure_id":15376,"section_number":"45.2-606","catch_line":" Payment of attorney fees, expenses, and court costs","url":"\/45.2-606\/","token":"45.2\/II\/A\/6\/2\/45.2-606","metadata":false},{"id":72096,"structure_id":15376,"section_number":"45.2-607","catch_line":" Production of coal by majority interest owner; petition to establish trust for known coal owners","url":"\/45.2-607\/","token":"45.2\/II\/A\/6\/2\/45.2-607","metadata":false}],"previous_section":{"id":79463,"structure_id":15376,"section_number":"45.2-604","catch_line":" Court may declare trust; trustee sale of lease","url":"\/45.2-604\/","token":"45.2\/II\/A\/6\/2\/45.2-604","metadata":false},"next_section":{"id":86073,"structure_id":15376,"section_number":"45.2-606","catch_line":" Payment of attorney fees, expenses, and court costs","url":"\/45.2-606\/","token":"45.2\/II\/A\/6\/2\/45.2-606","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/45.2-605\/","history_text":"

This law was first created in 2003. The record of its establishment is cataloged in chapter 775<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":58539,"section_number":"55.1-2500","catch_line":"Definitions","order_by":null,"url":"\/55.1-2500\/"}],"permalink":{"id":223027,"object_type":"law","relational_id":68365,"identifier":"45.2-605","token":"45.2\/II\/A\/6\/2\/45.2-605","url":"\/45.2-605\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/45.2-605\/","token":"45.2\/II\/A\/6\/2\/45.2-605","dublin_core":{"Title":" Duty of trustee; sale of lease; distribution of funds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 45.2-605","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The trustee shall collect the proceeds from the sale of the lease and hold and invest such proceeds for the use and benefit of the unknown or missing owners. The court<\/span> may authorize the trustee to expend an amount not to exceed 10 percent of the funds collected by the trustee for the purpose of searching for the unknown or missing owners. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Five years after the date of first commercial production of the coal interests, the proceeds in the trust shall be disposed of pursuant to the Virginia Disposition<\/span> of Unclaimed Property Act (§ 55.1-2500<\/a> et seq.). <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\n DUTY OF TRUSTEE; SALE OF LEASE; DISTRIBUTION OF FUNDS (\u00a7 45.2-605)\n\nA. The trustee shall collect the proceeds from the sale of the lease and hold\nand invest such proceeds for the use and benefit of the unknown or missing\nowners. The court may authorize the trustee to expend an amount not to exceed 10\npercent of the funds collected by the trustee for the purpose of searching for\nthe unknown or missing owners.\n\nB. Five years after the date of first commercial production of the coal\ninterests, the proceeds in the trust shall be disposed of pursuant to the\nVirginia Disposition of Unclaimed Property Act (§ 55.1-2500 et seq.).\n\nHISTORY: 2003, c. 775, \u00a7 45.1-161.311:6; 2021, Sp. Sess. I, c. 387.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}