{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/54.1-1123.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/54.1-1123.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/54.1-1123.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/54.1-1123.html"}],"law_id":62297,"edition_id":1,"section_id":62297,"structure_id":13920,"section_number":"54.1-1123","catch_line":"Limitations upon recovery from Fund; certain actions not a bar to recovery","history":"1980, c. 635, \u00a7 54-145.3:5; 1984, c. 270; 1987, cc. 555, 562; 1988, c. 765; 1990, cc. 437, 911; 1997, c. 885; 1999, c. 262; 2005, c. 252; 2015, cc. 409, 710; 2017, c. 572; 2025, cc. 127, 133.","full_text":"A\n\nThe maximum claim of one claimant against the Fund based upon an unpaid judgment arising out of the improper or dishonest conduct of one regulant in connection with a single transaction involving contracting is limited to $30,000, including any amount paid from a contractor’s surety bond under § 54.1-1120.1, regardless of the amount of the unpaid judgment of the claimant.B\n\nThe aggregate of claims against the Fund based upon unpaid judgments arising out of the improper or dishonest conduct of any one regulant involving contracting, is limited by the Board to $100,000 during any biennium. If a claim has been made against the Fund, and the Board has reason to believe there may be additional claims against the Fund from other transactions involving the same regulant, the Board may withhold any payment(s) from the Fund involving such regulant for a period of not more than one year from the date on which the claimant is awarded in a court of competent jurisdiction in the Commonwealth the final judgment on which his claim against the Fund is based. After this one-year period, if the aggregate of claims against the regulant exceeds $100,000, during a biennium, $100,000 shall be prorated by the Board among the claimants and paid from the Fund, less the amount of any applicable contractor’s bond, in proportion to the amounts of their judgments against the regulant remaining unpaid. Claims shall be prorated only after any applicable contractor’s bond has been exhausted.C\n\nExcluded from the amount of any unpaid judgment upon which a claim against the Fund is based shall be any sums representing interest, or punitive damages, or any amounts that do not constitute actual monetary loss to the claimants. Such claim against the Fund may include court costs and attorney fees.D\n\nIf, at any time, the amount of the Fund is insufficient to fully satisfy any claims or claim filed with the Board and authorized by this Act, the Board shall pay such claims, claim, or portion thereof to the claimants in the order that the claims were filed with the Board.E\n\nFailure of a claimant to comply with the provisions of subdivisions B 1 and 2 and subsection C of § 54.1-1120 and the provisions of § 54.1-1124 shall not be a bar to recovery under this Act if the claimant is otherwise entitled to such recovery.F\n\nThe Board shall have the authority to deny any claim which otherwise appears to meet the requirements of the Act if it finds by clear and convincing evidence that the claimant has presented false information or engaged in collusion to circumvent any of the requirements of the Act.","order_by":null,"text":{"0":{"id":227194,"text":"The maximum claim of one claimant against the Fund based upon an unpaid judgment arising out of the improper or dishonest conduct of one regulant in connection with a single transaction involving contracting is limited to $30,000, including any amount paid from a contractor’s surety bond under § 54.1-1120.1, regardless of the amount of the unpaid judgment of the claimant.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":227195,"text":"The aggregate of claims against the Fund based upon unpaid judgments arising out of the improper or dishonest conduct of any one regulant involving contracting, is limited by the Board to $100,000 during any biennium. If a claim has been made against the Fund, and the Board has reason to believe there may be additional claims against the Fund from other transactions involving the same regulant, the Board may withhold any payment(s) from the Fund involving such regulant for a period of not more than one year from the date on which the claimant is awarded in a court of competent jurisdiction in the Commonwealth the final judgment on which his claim against the Fund is based. After this one-year period, if the aggregate of claims against the regulant exceeds $100,000, during a biennium, $100,000 shall be prorated by the Board among the claimants and paid from the Fund, less the amount of any applicable contractor’s bond, in proportion to the amounts of their judgments against the regulant remaining unpaid. Claims shall be prorated only after any applicable contractor’s bond has been exhausted.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":227196,"text":"Excluded from the amount of any unpaid judgment upon which a claim against the Fund is based shall be any sums representing interest, or punitive damages, or any amounts that do not constitute actual monetary loss to the claimants. Such claim against the Fund may include court costs and attorney fees.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":227197,"text":"If, at any time, the amount of the Fund is insufficient to fully satisfy any claims or claim filed with the Board and authorized by this Act, the Board shall pay such claims, claim, or portion thereof to the claimants in the order that the claims were filed with the Board.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":227198,"text":"Failure of a claimant to comply with the provisions of subdivisions B 1 and 2 and subsection C of § 54.1-1120 and the provisions of § 54.1-1124 shall not be a bar to recovery under this Act if the claimant is otherwise entitled to such recovery.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":227199,"text":"The Board shall have the authority to deny any claim which otherwise appears to meet the requirements of the Act if it finds by clear and convincing evidence that the claimant has presented false information or engaged in collusion to circumvent any of the requirements of the Act.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":13920,"edition_id":1,"name":"Virginia Contractor Transaction Recovery Act","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13234,"metadata":{},"date_created":"2026-06-26 03:46:18","date_modified":"2026-06-26 03:46:18","permalink":{"id":239527,"object_type":"structure","relational_id":13920,"identifier":"2","token":"54.1\/II\/11\/2","url":"\/54.1\/II\/11\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13234,"edition_id":1,"name":"Contractors","identifier":"11","label":"chapter","depth":3,"order_by":1,"parent_id":12755,"metadata":{},"date_created":"2026-06-26 03:44:29","date_modified":"2026-06-26 03:44:29","permalink":{"id":239423,"object_type":"structure","relational_id":13234,"identifier":"11","token":"54.1\/II\/11","url":"\/54.1\/II\/11\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12755,"edition_id":1,"name":"Professions and Occupations Regulated by the Department of Professional and Occupational Regulation and Boards Within the Department","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12754,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239415,"object_type":"structure","relational_id":12755,"identifier":"II","token":"54.1\/II","url":"\/54.1\/II\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12754,"edition_id":1,"name":"Professions and Occupations","identifier":"54.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239313,"object_type":"structure","relational_id":12754,"identifier":"54.1","token":"54.1","url":"\/54.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":85483,"structure_id":13920,"section_number":"54.1-1118","catch_line":"Definitions","url":"\/54.1-1118\/","token":"54.1\/II\/11\/2\/54.1-1118","metadata":false},{"id":65141,"structure_id":13920,"section_number":"54.1-1119","catch_line":"Assessments by Director; assignment to Fund; minimum balance; notice; penalties; costs of administration","url":"\/54.1-1119\/","token":"54.1\/II\/11\/2\/54.1-1119","metadata":false},{"id":86855,"structure_id":13920,"section_number":"54.1-1120","catch_line":"Recovery from Fund generally","url":"\/54.1-1120\/","token":"54.1\/II\/11\/2\/54.1-1120","metadata":false},{"id":73226,"structure_id":13920,"section_number":"54.1-1120.1","catch_line":"Recovery on bond","url":"\/54.1-1120.1\/","token":"54.1\/II\/11\/2\/54.1-1120.1","metadata":false},{"id":60926,"structure_id":13920,"section_number":"54.1-1121","catch_line":"Investigations","url":"\/54.1-1121\/","token":"54.1\/II\/11\/2\/54.1-1121","metadata":false},{"id":54973,"structure_id":13920,"section_number":"54.1-1122","catch_line":"Consideration of applications for payment","url":"\/54.1-1122\/","token":"54.1\/II\/11\/2\/54.1-1122","metadata":false},{"id":62297,"structure_id":13920,"section_number":"54.1-1123","catch_line":"Limitations upon recovery from Fund; certain actions not a bar to recovery","url":"\/54.1-1123\/","token":"54.1\/II\/11\/2\/54.1-1123","metadata":false},{"id":86010,"structure_id":13920,"section_number":"54.1-1124","catch_line":"Participation by Board or Director in proceeding","url":"\/54.1-1124\/","token":"54.1\/II\/11\/2\/54.1-1124","metadata":false},{"id":87375,"structure_id":13920,"section_number":"54.1-1125","catch_line":"Assignment of claimant's rights to Board; payment of claim","url":"\/54.1-1125\/","token":"54.1\/II\/11\/2\/54.1-1125","metadata":false},{"id":76787,"structure_id":13920,"section_number":"54.1-1126","catch_line":"Repealed","url":"\/54.1-1126\/","token":"54.1\/II\/11\/2\/54.1-1126","metadata":false},{"id":56430,"structure_id":13920,"section_number":"54.1-1127","catch_line":"No waiver by Board of disciplinary action against regulant","url":"\/54.1-1127\/","token":"54.1\/II\/11\/2\/54.1-1127","metadata":false}],"previous_section":{"id":54973,"structure_id":13920,"section_number":"54.1-1122","catch_line":"Consideration of applications for payment","url":"\/54.1-1122\/","token":"54.1\/II\/11\/2\/54.1-1122","metadata":false},"next_section":{"id":86010,"structure_id":13920,"section_number":"54.1-1124","catch_line":"Participation by Board or Director in proceeding","url":"\/54.1-1124\/","token":"54.1\/II\/11\/2\/54.1-1124","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/54.1-1123\/","history_text":"

This law was first created in 1980. The record of its establishment is cataloged in chapter 635 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. Unfortunately, the 1980 \u201cActs\u201d aren\u2019t available online. It has been modified 10 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1984, chapter 270; in 1987, chapters 555 and 562; in 1988, chapter 765; in 1990, chapters 437 and 911; in 1997, chapter 885<\/a>; in 1999, chapter 262<\/a>; in 2005, chapter 252<\/a>; in 2015, chapters 409<\/a> and 710<\/a>; in 2017, chapter 572<\/a>; in 2025, chapters 127<\/a> and 133<\/a>.<\/p>","references":[{"id":54973,"section_number":"54.1-1122","catch_line":"Consideration of applications for payment","order_by":null,"url":"\/54.1-1122\/"},{"id":87375,"section_number":"54.1-1125","catch_line":"Assignment of claimant's rights to Board; payment of claim","order_by":null,"url":"\/54.1-1125\/"}],"refers_to":[{"id":86855,"section_number":"54.1-1120","catch_line":"Recovery from Fund generally","order_by":null,"url":"\/54.1-1120\/"},{"id":73226,"section_number":"54.1-1120.1","catch_line":"Recovery on bond","order_by":null,"url":"\/54.1-1120.1\/"},{"id":86010,"section_number":"54.1-1124","catch_line":"Participation by Board or Director in proceeding","order_by":null,"url":"\/54.1-1124\/"}],"permalink":{"id":239553,"object_type":"law","relational_id":62297,"identifier":"54.1-1123","token":"54.1\/II\/11\/2\/54.1-1123","url":"\/54.1-1123\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/54.1-1123\/","token":"54.1\/II\/11\/2\/54.1-1123","dublin_core":{"Title":"Limitations upon recovery from Fund; certain actions not a bar to recovery","Type":"Text","Format":"text\/html","Identifier":"\u00a7 54.1-1123","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The maximum claim of one claimant<\/span> against the Fund<\/span> based upon an unpaid judgment<\/span> arising out of the improper or dishonest conduct<\/span> of one regulant<\/span> in connection with a single transaction involving contracting is limited to $30,000, including any amount paid from a contractor<\/span>’s surety<\/span> bond<\/span> under § 54.1-1120.1<\/a>, regardless of the amount of the unpaid judgment<\/span> of the claimant<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The aggregate of claims against the Fund<\/span> based upon unpaid judgments<\/span> arising out of the improper or dishonest conduct<\/span> of any one regulant<\/span> involving contracting, is limited by the Board<\/span> to $100,000 during any biennium<\/span>. If a claim has been made against the Fund<\/span>, and the Board<\/span> has reason to believe there may be additional claims against the Fund<\/span> from other transactions involving the same regulant<\/span>, the Board<\/span> may withhold any payment(s) from the Fund<\/span> involving such regulant<\/span> for a period of not more than one year from the date on which the claimant<\/span> is awarded in a court<\/span> of competent jurisdiction<\/span> in the Commonwealth the final judgment<\/span> on which his claim against the Fund<\/span> is based. After this one-year period, if the aggregate of claims against the regulant<\/span> exceeds $100,000, during a biennium<\/span>, $100,000 shall be prorated by the Board<\/span> among the claimants<\/span> and paid from the Fund<\/span>, less the amount of any applicable contractor<\/span>’s bond<\/span>, in proportion to the amounts of their judgments<\/span> against the regulant<\/span> remaining unpaid. Claims shall be prorated only after any applicable contractor<\/span>’s bond<\/span> has been exhausted. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Excluded from the amount of any unpaid judgment<\/span> upon which a claim against the Fund<\/span> is based shall be any sums representing interest, or punitive damages<\/span>, or any amounts that do not constitute actual monetary loss to the claimants<\/span>. Such claim against the Fund<\/span> may include court<\/span> costs and attorney fees. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> If, at any time, the amount of the Fund<\/span> is insufficient to fully satisfy any claims or claim filed with the Board<\/span> and authorized by this Act<\/span>, the Board<\/span> shall pay such claims, claim, or portion thereof to the claimants<\/span> in the order<\/span> that the claims were filed with the Board<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Failure of a claimant<\/span> to comply with the provisions of subdivisions B 1 and 2 and subsection C of § 54.1-1120<\/a> and the provisions of § 54.1-1124<\/a> shall not be a bar to recovery under this Act<\/span> if the claimant<\/span> is otherwise entitled to such recovery. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The Board<\/span> shall have the authority to deny any claim which otherwise appears to meet the requirements of the Act<\/span> if it finds by clear and convincing evidence<\/span> that the claimant<\/span> has presented false information or engaged in collusion to circumvent any of the requirements of the Act<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLIMITATIONS UPON RECOVERY FROM FUND; CERTAIN ACTIONS NOT A BAR TO RECOVERY (\u00a7\n54.1-1123)\n\nA. The maximum claim of one claimant against the Fund based upon an unpaid\njudgment arising out of the improper or dishonest conduct of one regulant in\nconnection with a single transaction involving contracting is limited to\n$30,000, including any amount paid from a contractor’s surety bond under\n§ 54.1-1120.1, regardless of the amount of the unpaid judgment of the\nclaimant.\n\nB. The aggregate of claims against the Fund based upon unpaid judgments arising\nout of the improper or dishonest conduct of any one regulant involving\ncontracting, is limited by the Board to $100,000 during any biennium. If a claim\nhas been made against the Fund, and the Board has reason to believe there may be\nadditional claims against the Fund from other transactions involving the same\nregulant, the Board may withhold any payment(s) from the Fund involving such\nregulant for a period of not more than one year from the date on which the\nclaimant is awarded in a court of competent jurisdiction in the Commonwealth the\nfinal judgment on which his claim against the Fund is based. After this one-year\nperiod, if the aggregate of claims against the regulant exceeds $100,000, during\na biennium, $100,000 shall be prorated by the Board among the claimants and paid\nfrom the Fund, less the amount of any applicable contractor’s bond, in\nproportion to the amounts of their judgments against the regulant remaining\nunpaid. Claims shall be prorated only after any applicable contractor’s\nbond has been exhausted.\n\nC. Excluded from the amount of any unpaid judgment upon which a claim against\nthe Fund is based shall be any sums representing interest, or punitive damages,\nor any amounts that do not constitute actual monetary loss to the claimants.\nSuch claim against the Fund may include court costs and attorney fees.\n\nD. If, at any time, the amount of the Fund is insufficient to fully satisfy any\nclaims or claim filed with the Board and authorized by this Act, the Board shall\npay such claims, claim, or portion thereof to the claimants in the order that\nthe claims were filed with the Board.\n\nE. Failure of a claimant to comply with the provisions of subdivisions B 1 and 2\nand subsection C of § 54.1-1120 and the provisions of § 54.1-1124\nshall not be a bar to recovery under this Act if the claimant is otherwise\nentitled to such recovery.\n\nF. The Board shall have the authority to deny any claim which otherwise appears\nto meet the requirements of the Act if it finds by clear and convincing evidence\nthat the claimant has presented false information or engaged in collusion to\ncircumvent any of the requirements of the Act.\n\nHISTORY: 1980, c. 635, \u00a7 54-145.3:5; 1984, c. 270; 1987, cc. 555, 562; 1988, c.\n765; 1990, cc. 437, 911; 1997, c. 885; 1999, c. 262; 2005, c. 252; 2015, cc.\n409, 710; 2017, c. 572; 2025, cc. 127, 133.","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}}