{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2500.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2500.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2500.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2500.html"}],"law_id":58539,"edition_id":1,"section_id":58539,"structure_id":13771,"section_number":"55.1-2500","catch_line":"Definitions","history":"1960, c. 330, \u00a7 55-210.2; 1981, c. 47; 1982, c. 331; 1983, c. 190; 1984, c. 121; 1988, c. 378; 2000, cc. 733, 745; 2019, c. 712.","full_text":"As used in this chapter, unless the context requires a different meaning:\n\t\t“Act” means the Virginia Disposition of Unclaimed Property Act (\u00a7 55.1-2500 et seq.).\n\t\t“Administrator” means the State Treasurer or his designee.\n\t\t“Apparent owner” means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder.\n\t\t“Banking organization” means any bank, trust company, savings bank (industrial bank, land bank, safe deposit company), or private banker or any other organization defined by law as a bank or banking organization.\n\t\t“Business association” means any corporation, joint-stock company, investment company, business trust, partnership, limited liability company, cooperative, or association for business purposes of two or more individuals, whether or not for profit, including a banking organization, financial organization, insurance company, or utility.\n\t\t“Credit balance” means an item of intangible property resulting from or attributable to the sale of goods or services, including an overpayment, credit memo, refund, discount, rebate, unidentified remittance, or deposit.\n\t\t“Domicile” means (i) the state of incorporation, in the case of a corporation incorporated under the laws of a state; (ii) the state of organization, in the case of an unincorporated business association formed under the laws of a state; (iii) the state of the principal place of business, in the case of a nonnatural person not incorporated or formed under the laws of a state; and (iv) the state of principal residency, in the case of a natural person.\n\t\t“Due diligence” includes the mailing of a letter by first-class mail to the last known address of the owner as indicated on the records of the holder.\n\t\t“Financial organization” means any savings and loan association (cooperative bank), building and loan association, or credit union.\n\t\t“Gift certificate” means a certificate, electronic card, or other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of an equal value.\n\t\t“Holder” means a person, wherever organized or domiciled, that is (i) in possession of property belonging to another; (ii) a trustee, in the case of a trust; or (iii) indebted to another on an obligation.\n\t\t“Insurance company” means an association, corporation, or fraternal or mutual benefit organization, whether or not for profit, that is engaged in providing insurance coverage, including accident, burial, casualty, contract performance, credit life, dental, fidelity, fire, health, hospitalization, illness, life (including endowments and annuities), malpractice, marine, mortgage, surety, and wage protection insurance.\n\t\t“Intangible property” includes (i) moneys, checks, drafts, deposits, interest, and dividend income; (ii) credits, customer overpayments, gift certificates, security deposits, refunds, unpaid wages, and unidentified remittances; (iii) stocks and other intangible ownership interests in business associations; (iv) moneys deposited to redeem stocks, bonds, coupons, and other securities or to make distributions; (v) amounts due and payable under the terms of insurance policies; and (vi) amounts distributable from a trust or custodial fund established under a plan to provide any health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefit.\n\t\t“Last known address” means a description of the location of the apparent owner sufficient to identify the state of residence of the apparent owner for the purpose of the delivery of mail.\n\t\t“Owner” means (i) a depositor, in the case of a deposit; (ii) a beneficiary, in the case of a trust, other than a deposit in trust; (iii) a creditor, claimant, or payee, in the case of other intangible property; or (iv) a person having a legal or equitable interest in property subject to this chapter or his legal representative.\n\t\t“Payable” means the earliest date upon which the owner of property could become entitled to the payments, possession, delivery, or distribution of such property from a holder.\n\t\t“Person” means an individual; a business association; a government or governmental subdivision or agency, public corporation, or public authority; an estate; a trust; two or more persons having a joint or common interest; or any other legal or commercial entity.\n\t\t“Promotional incentive” means a coupon, rebate, or other promotional device offered to induce a consumer to purchase goods, food, or services and for which (i) no direct consideration is given by the consumer or (ii) the consideration given is less than the value of the goods, food, or services to be received.\n\t\t“State,” when applied to a part of the United States, includes any state, district, commonwealth, territory, and insular possession and any other area subject to the legislative authority of the United States.\n\t\t“Unclaimed property” means property for which the owner, as shown by the records of the holder of his property, has ceased, failed, or neglected, within the times provided in this chapter, to make presentment and demand for payment and satisfaction or to do any other act in relation to or concerning such property. As used in this definition, “act” excludes any act of a holder of unclaimed property not done at the express request or authorization of the owner.\n\t\t“Utility” means a person that owns or operates, for public use, any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas.","order_by":null,"text":{"0":{"id":214546,"text":"As used in this chapter, unless the context requires a different meaning:\n\t\t“Act” means the Virginia Disposition of Unclaimed Property Act (\u00a7 55.1-2500 et seq.).\n\t\t“Administrator” means the State Treasurer or his designee.\n\t\t“Apparent owner” means the person whose name appears on the records of the holder as the person entitled to property held, issued, or owing by the holder.\n\t\t“Banking organization” means any bank, trust company, savings bank (industrial bank, land bank, safe deposit company), or private banker or any other organization defined by law as a bank or banking organization.\n\t\t“Business association” means any corporation, joint-stock company, investment company, business trust, partnership, limited liability company, cooperative, or association for business purposes of two or more individuals, whether or not for profit, including a banking organization, financial organization, insurance company, or utility.\n\t\t“Credit balance” means an item of intangible property resulting from or attributable to the sale of goods or services, including an overpayment, credit memo, refund, discount, rebate, unidentified remittance, or deposit.\n\t\t“Domicile” means (i) the state of incorporation, in the case of a corporation incorporated under the laws of a state; (ii) the state of organization, in the case of an unincorporated business association formed under the laws of a state; (iii) the state of the principal place of business, in the case of a nonnatural person not incorporated or formed under the laws of a state; and (iv) the state of principal residency, in the case of a natural person.\n\t\t“Due diligence” includes the mailing of a letter by first-class mail to the last known address of the owner as indicated on the records of the holder.\n\t\t“Financial organization” means any savings and loan association (cooperative bank), building and loan association, or credit union.\n\t\t“Gift certificate” means a certificate, electronic card, or other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of an equal value.\n\t\t“Holder” means a person, wherever organized or domiciled, that is (i) in possession of property belonging to another; (ii) a trustee, in the case of a trust; or (iii) indebted to another on an obligation.\n\t\t“Insurance company” means an association, corporation, or fraternal or mutual benefit organization, whether or not for profit, that is engaged in providing insurance coverage, including accident, burial, casualty, contract performance, credit life, dental, fidelity, fire, health, hospitalization, illness, life (including endowments and annuities), malpractice, marine, mortgage, surety, and wage protection insurance.\n\t\t“Intangible property” includes (i) moneys, checks, drafts, deposits, interest, and dividend income; (ii) credits, customer overpayments, gift certificates, security deposits, refunds, unpaid wages, and unidentified remittances; (iii) stocks and other intangible ownership interests in business associations; (iv) moneys deposited to redeem stocks, bonds, coupons, and other securities or to make distributions; (v) amounts due and payable under the terms of insurance policies; and (vi) amounts distributable from a trust or custodial fund established under a plan to provide any health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefit.\n\t\t“Last known address” means a description of the location of the apparent owner sufficient to identify the state of residence of the apparent owner for the purpose of the delivery of mail.\n\t\t“Owner” means (i) a depositor, in the case of a deposit; (ii) a beneficiary, in the case of a trust, other than a deposit in trust; (iii) a creditor, claimant, or payee, in the case of other intangible property; or (iv) a person having a legal or equitable interest in property subject to this chapter or his legal representative.\n\t\t“Payable” means the earliest date upon which the owner of property could become entitled to the payments, possession, delivery, or distribution of such property from a holder.\n\t\t“Person” means an individual; a business association; a government or governmental subdivision or agency, public corporation, or public authority; an estate; a trust; two or more persons having a joint or common interest; or any other legal or commercial entity.\n\t\t“Promotional incentive” means a coupon, rebate, or other promotional device offered to induce a consumer to purchase goods, food, or services and for which (i) no direct consideration is given by the consumer or (ii) the consideration given is less than the value of the goods, food, or services to be received.\n\t\t“State,” when applied to a part of the United States, includes any state, district, commonwealth, territory, and insular possession and any other area subject to the legislative authority of the United States.\n\t\t“Unclaimed property” means property for which the owner, as shown by the records of the holder of his property, has ceased, failed, or neglected, within the times provided in this chapter, to make presentment and demand for payment and satisfaction or to do any other act in relation to or concerning such property. As used in this definition, “act” excludes any act of a holder of unclaimed property not done at the express request or authorization of the owner.\n\t\t“Utility” means a person that owns or operates, for public use, any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13771,"edition_id":1,"name":"Definitions; Property Abandoned or Assumed Abandoned","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":12709,"metadata":{},"date_created":"2026-06-26 03:45:50","date_modified":"2026-06-26 03:45:50","permalink":{"id":247945,"object_type":"structure","relational_id":13771,"identifier":"1","token":"55.1\/V\/25\/1","url":"\/55.1\/V\/25\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12709,"edition_id":1,"name":"Virginia Disposition Of Unclaimed Property Act","identifier":"25","label":"chapter","depth":3,"order_by":1,"parent_id":12708,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":247943,"object_type":"structure","relational_id":12709,"identifier":"25","token":"55.1\/V\/25","url":"\/55.1\/V\/25\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12708,"edition_id":1,"name":"Miscellaneous","identifier":"V","label":"subtitle","depth":2,"order_by":1,"parent_id":12707,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":247771,"object_type":"structure","relational_id":12708,"identifier":"V","token":"55.1\/V","url":"\/55.1\/V\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12707,"edition_id":1,"name":"Property and Conveyances","identifier":"55.1","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":244769,"object_type":"structure","relational_id":12707,"identifier":"55.1","token":"55.1","url":"\/55.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58539,"structure_id":13771,"section_number":"55.1-2500","catch_line":"Definitions","url":"\/55.1-2500\/","token":"55.1\/V\/25\/1\/55.1-2500","metadata":false},{"id":73294,"structure_id":13771,"section_number":"55.1-2501","catch_line":"Property presumed abandoned; general rule","url":"\/55.1-2501\/","token":"55.1\/V\/25\/1\/55.1-2501","metadata":false},{"id":65666,"structure_id":13771,"section_number":"55.1-2502","catch_line":"Taking custody of intangible unclaimed property; general rules","url":"\/55.1-2502\/","token":"55.1\/V\/25\/1\/55.1-2502","metadata":false},{"id":77387,"structure_id":13771,"section_number":"55.1-2503","catch_line":"Bank deposits and funds in financial organizations","url":"\/55.1-2503\/","token":"55.1\/V\/25\/1\/55.1-2503","metadata":false},{"id":73776,"structure_id":13771,"section_number":"55.1-2504","catch_line":"Traveler's checks and money orders","url":"\/55.1-2504\/","token":"55.1\/V\/25\/1\/55.1-2504","metadata":false},{"id":72388,"structure_id":13771,"section_number":"55.1-2505","catch_line":"Checks, drafts, and similar instruments issued or certified by banking and financial organizations","url":"\/55.1-2505\/","token":"55.1\/V\/25\/1\/55.1-2505","metadata":false},{"id":64112,"structure_id":13771,"section_number":"55.1-2506","catch_line":"Contents of safe deposit box or other safekeeping repository","url":"\/55.1-2506\/","token":"55.1\/V\/25\/1\/55.1-2506","metadata":false},{"id":78230,"structure_id":13771,"section_number":"55.1-2507","catch_line":"Funds owing under life insurance policies","url":"\/55.1-2507\/","token":"55.1\/V\/25\/1\/55.1-2507","metadata":false},{"id":62766,"structure_id":13771,"section_number":"55.1-2508","catch_line":"Intangible personal property held by insurance corporation subject to \u00a7 55.1-2501","url":"\/55.1-2508\/","token":"55.1\/V\/25\/1\/55.1-2508","metadata":false},{"id":85940,"structure_id":13771,"section_number":"55.1-2509","catch_line":"Unclaimed demutualization proceeds","url":"\/55.1-2509\/","token":"55.1\/V\/25\/1\/55.1-2509","metadata":false},{"id":84156,"structure_id":13771,"section_number":"55.1-2510","catch_line":"Deposits held by utilities","url":"\/55.1-2510\/","token":"55.1\/V\/25\/1\/55.1-2510","metadata":false},{"id":65661,"structure_id":13771,"section_number":"55.1-2511","catch_line":"Intangible interest in business association","url":"\/55.1-2511\/","token":"55.1\/V\/25\/1\/55.1-2511","metadata":false},{"id":59201,"structure_id":13771,"section_number":"55.1-2512","catch_line":"Refunds held by business associations","url":"\/55.1-2512\/","token":"55.1\/V\/25\/1\/55.1-2512","metadata":false},{"id":56945,"structure_id":13771,"section_number":"55.1-2513","catch_line":"Property of business associations held in course of dissolution","url":"\/55.1-2513\/","token":"55.1\/V\/25\/1\/55.1-2513","metadata":false},{"id":83377,"structure_id":13771,"section_number":"55.1-2514","catch_line":"Intangible personal property held in fiduciary capacity","url":"\/55.1-2514\/","token":"55.1\/V\/25\/1\/55.1-2514","metadata":false},{"id":75833,"structure_id":13771,"section_number":"55.1-2515","catch_line":"Gift certificates and credit balances","url":"\/55.1-2515\/","token":"55.1\/V\/25\/1\/55.1-2515","metadata":false},{"id":71400,"structure_id":13771,"section_number":"55.1-2516","catch_line":"Wages","url":"\/55.1-2516\/","token":"55.1\/V\/25\/1\/55.1-2516","metadata":false},{"id":72310,"structure_id":13771,"section_number":"55.1-2517","catch_line":"Intangible property held for owner by public agency","url":"\/55.1-2517\/","token":"55.1\/V\/25\/1\/55.1-2517","metadata":false},{"id":54779,"structure_id":13771,"section_number":"55.1-2518","catch_line":"Property held by courts","url":"\/55.1-2518\/","token":"55.1\/V\/25\/1\/55.1-2518","metadata":false},{"id":68278,"structure_id":13771,"section_number":"55.1-2519","catch_line":"Responsibilities of general receiver and clerk","url":"\/55.1-2519\/","token":"55.1\/V\/25\/1\/55.1-2519","metadata":false},{"id":55072,"structure_id":13771,"section_number":"55.1-2520","catch_line":"Employee benefit trust distribution","url":"\/55.1-2520\/","token":"55.1\/V\/25\/1\/55.1-2520","metadata":false},{"id":75309,"structure_id":13771,"section_number":"55.1-2521","catch_line":"Holder of tangible or intangible personal property may voluntarily report such property","url":"\/55.1-2521\/","token":"55.1\/V\/25\/1\/55.1-2521","metadata":false}],"next_section":{"id":73294,"structure_id":13771,"section_number":"55.1-2501","catch_line":"Property presumed abandoned; general rule","url":"\/55.1-2501\/","token":"55.1\/V\/25\/1\/55.1-2501","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2500\/","history_text":"

This law was first created in 1960. The record of its establishment is cataloged in chapter 330 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 1960 \u201cActs\u201d aren\u2019t available online. It has been modified 7 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 1981, chapter 47; in 1982, chapter 331; in 1983, chapter 190; in 1984, chapter 121; in 1988, chapter 378; in 2000, chapters 733<\/a> and 745<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":[{"id":75053,"section_number":"13.1-322","catch_line":"Membership or voting stock certificates; transfers; dividends; nonvoting stock","order_by":null,"url":"\/13.1-322\/"},{"id":85242,"section_number":"15.2-1719","catch_line":"Disposal of unclaimed property in possession of sheriff or police","order_by":null,"url":"\/15.2-1719\/"},{"id":77275,"section_number":"15.2-1721","catch_line":"Disposal of unclaimed firearms or other weapons in possession of sheriff or police","order_by":null,"url":"\/15.2-1721\/"},{"id":79544,"section_number":"2.2-3705.7","catch_line":"Exclusions to application of chapter; records of specific public bodies and certain other limited exclusions","order_by":null,"url":"\/2.2-3705.7\/"},{"id":57272,"section_number":"22.1-142","catch_line":"How Fund constituted; management","order_by":null,"url":"\/22.1-142\/"},{"id":58799,"section_number":"30-34.2:2","catch_line":"Disposal of unclaimed firearms, other weapons, or other unclaimed personal property in possession of the Division of Capitol Police","order_by":null,"url":"\/30-34.2_2\/"},{"id":81791,"section_number":"45.2-1620","catch_line":" Pooling of interests in drilling units","order_by":null,"url":"\/45.2-1620\/"},{"id":68365,"section_number":"45.2-605","catch_line":" Duty of trustee; sale of lease; distribution of funds","order_by":null,"url":"\/45.2-605\/"},{"id":63779,"section_number":"46.2-427","catch_line":"When suspensions to remain effective; relief from furnishing proof of financial responsibility; prohibition against registration in name of another person","order_by":null,"url":"\/46.2-427\/"},{"id":62870,"section_number":"51.1-124.4","catch_line":"Exemption of assets from taxation; exemption of benefits and assets from execution and assignment; trust funds; unclaimed property; eligible rollover distribution","order_by":null,"url":"\/51.1-124.4\/"},{"id":85646,"section_number":"52-11.4","catch_line":"Disposal of unclaimed property in the possession of State Police; exemption from the Virginia Disposition of Unclaimed Property Act","order_by":null,"url":"\/52-11.4\/"},{"id":69293,"section_number":"52-11.5","catch_line":"Disposal of unclaimed firearms or other weapons in possession of the State Police","order_by":null,"url":"\/52-11.5\/"},{"id":58539,"section_number":"55.1-2500","catch_line":"Definitions","order_by":null,"url":"\/55.1-2500\/"},{"id":53937,"section_number":"55.1-2524","catch_line":"Report and remittance to be made by holder of funds or property presumed abandoned; holder to exercise due diligence to locate owner","order_by":null,"url":"\/55.1-2524\/"},{"id":55112,"section_number":"55.1-2540","catch_line":"Interest and penalties","order_by":null,"url":"\/55.1-2540\/"},{"id":61149,"section_number":"55.1-2601","catch_line":"Status of loaned property; statute of limitations on recovery","order_by":null,"url":"\/55.1-2601\/"},{"id":82313,"section_number":"56-231.31:1","catch_line":"Donation of certain patronage capital to the cooperative","order_by":null,"url":"\/56-231.31_1\/"},{"id":57817,"section_number":"58.1-3","catch_line":"Secrecy of information; penalties","order_by":null,"url":"\/58.1-3\/"},{"id":72950,"section_number":"6.2-1168","catch_line":"Redemption","order_by":null,"url":"\/6.2-1168\/"}],"refers_to":[{"id":58539,"section_number":"55.1-2500","catch_line":"Definitions","order_by":null,"url":"\/55.1-2500\/"}],"permalink":{"id":247947,"object_type":"law","relational_id":58539,"identifier":"55.1-2500","token":"55.1\/V\/25\/1\/55.1-2500","url":"\/55.1-2500\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2500\/","token":"55.1\/V\/25\/1\/55.1-2500","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2500","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this chapter, unless the context requires a different meaning:\n\t\t“Act<\/span>” means the Virginia Disposition<\/span> of Unclaimed Property<\/span> Act<\/span> (\u00a7 55.1-2500<\/a> et seq.).\n\t\t“Administrator<\/span>” means the State Treasurer or his designee.\n\t\t“Apparent owner<\/span>” means the person<\/span> whose name appears on the records of the holder<\/span> as the person<\/span> entitled to property held, issued, or owing by the holder<\/span>.\n\t\t“Banking organization<\/span>” means any bank, trust company, savings bank (industrial bank, land bank, safe deposit company), or private banker or any other organization defined by law<\/span> as a bank or banking organization<\/span>.\n\t\t“Business association<\/span>” means any corporation, joint-stock company, investment company, business trust, partnership, limited liability company, cooperative, or association for business purposes of two or more individuals, whether or not for profit, including a banking organization<\/span>, financial organization<\/span>, insurance company<\/span>, or utility<\/span>.\n\t\t“Credit balance<\/span>” means an item of intangible property<\/span> resulting from or attributable to the sale of goods or services, including an overpayment, credit memo, refund, discount, rebate, unidentified remittance, or deposit.\n\t\t“Domicile<\/span>” means (i) the state of incorporation, in the case of a corporation incorporated under the laws<\/span> of a state; (ii) the state of organization, in the case of an unincorporated business association<\/span> formed under the laws<\/span> of a state; (iii) the state of the principal place of business, in the case of a nonnatural person<\/span> not incorporated or formed under the laws<\/span> of a state; and (iv) the state of principal residency, in the case of a natural person<\/span>.\n\t\t“Due diligence<\/span>” includes the mailing of a letter by first-class mail to the last known address<\/span> of the owner as indicated on the records of the holder<\/span>.\n\t\t“Financial organization<\/span>” means any savings and loan association (cooperative bank), building and loan association, or credit union.\n\t\t“Gift certificate<\/span>” means a certificate, electronic card, or other medium that evidences<\/span> the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of an equal value.\n\t\t“Holder<\/span>” means a person<\/span>, wherever organized or domiciled, that is (i) in possession<\/span> of property belonging to another; (ii) a trustee, in the case of a trust; or (iii) indebted to another on an obligation.\n\t\t“Insurance company<\/span>” means an association, corporation, or fraternal or mutual benefit organization, whether or not for profit, that is engaged in providing insurance coverage, including accident, burial, casualty, contract<\/span> performance, credit life, dental, fidelity, fire, health, hospitalization, illness, life (including endowments and annuities), malpractice, marine, mortgage, surety<\/span>, and wage protection insurance.\n\t\t“Intangible property<\/span>” includes (i) moneys, checks, drafts, deposits, interest, and dividend income; (ii) credits, customer overpayments, gift certificates<\/span>, security deposits, refunds, unpaid wages, and unidentified remittances; (iii) stocks and other intangible ownership interests in business associations<\/span>; (iv) moneys deposited to redeem stocks, bonds<\/span>, coupons, and other securities or to make distributions; (v) amounts due and payable<\/span> under the terms of insurance policies; and (vi) amounts distributable from a trust or custodial fund established under a plan to provide any health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefit.\n\t\t“Last known address<\/span>” means a description of the location of the apparent owner<\/span> sufficient to identify the state of residence of the apparent owner<\/span> for the purpose of the delivery of mail.\n\t\t“Owner” means (i) a depositor, in the case of a deposit; (ii) a beneficiary, in the case of a trust, other than a deposit in trust; (iii) a creditor<\/span>, claimant, or payee, in the case of other intangible property<\/span>; or (iv) a person<\/span> having a legal or equitable<\/span> interest in property subject to this chapter or his legal representative.\n\t\t“Payable<\/span>” means the earliest date upon which the owner of property could become entitled to the payments, possession<\/span>, delivery, or distribution of such property from a holder<\/span>.\n\t\t“Person<\/span>” means an individual; a business association<\/span>; a government or governmental subdivision or agency, public corporation, or public authority; an estate; a trust; two or more persons<\/span> having a joint or common interest; or any other legal or commercial entity.\n\t\t“Promotional incentive<\/span>” means a coupon, rebate, or other promotional device offered to induce a consumer to purchase goods, food, or services and for which (i) no direct consideration is given by the consumer or (ii) the consideration given is less than the value of the goods, food, or services to be received.\n\t\t“State,” when applied to a part of the United States, includes any state, district, commonwealth, territory, and insular possession<\/span> and any other area subject to the legislative authority of the United States.\n\t\t“Unclaimed property<\/span>” means property for which the owner, as shown by the records of the holder<\/span> of his property, has ceased, failed, or neglected, within the times provided in this chapter, to make presentment<\/span> and demand for payment and satisfaction or to do any other act<\/span> in relation to or concerning such property. As used in this definition, “act<\/span>” excludes any act<\/span> of a holder<\/span> of unclaimed property<\/span> not done at the express request or authorization of the owner.\n\t\t“Utility<\/span>” means a person<\/span> that owns or operates, for public use, any plant, equipment, property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 55.1-2500)\n\nAs used in this chapter, unless the context requires a different meaning:\n\t\t“Act” means the Virginia Disposition of Unclaimed Property Act\n(\u00a7 55.1-2500 et seq.).\n\t\t“Administrator” means the State Treasurer or his designee.\n\t\t“Apparent owner” means the person whose name appears on the\nrecords of the holder as the person entitled to property held, issued, or owing\nby the holder.\n\t\t“Banking organization” means any bank, trust company, savings\nbank (industrial bank, land bank, safe deposit company), or private banker or\nany other organization defined by law as a bank or banking organization.\n\t\t“Business association” means any corporation, joint-stock\ncompany, investment company, business trust, partnership, limited liability\ncompany, cooperative, or association for business purposes of two or more\nindividuals, whether or not for profit, including a banking organization,\nfinancial organization, insurance company, or utility.\n\t\t“Credit balance” means an item of intangible property resulting\nfrom or attributable to the sale of goods or services, including an overpayment,\ncredit memo, refund, discount, rebate, unidentified remittance, or deposit.\n\t\t“Domicile” means (i) the state of incorporation, in the case of a\ncorporation incorporated under the laws of a state; (ii) the state of\norganization, in the case of an unincorporated business association formed under\nthe laws of a state; (iii) the state of the principal place of business, in the\ncase of a nonnatural person not incorporated or formed under the laws of a\nstate; and (iv) the state of principal residency, in the case of a natural\nperson.\n\t\t“Due diligence” includes the mailing of a letter by first-class\nmail to the last known address of the owner as indicated on the records of the\nholder.\n\t\t“Financial organization” means any savings and loan association\n(cooperative bank), building and loan association, or credit union.\n\t\t“Gift certificate” means a certificate, electronic card, or other\nmedium that evidences the giving of consideration in exchange for the right to\nredeem the certificate, electronic card, or other medium for goods, food,\nservices, credit, or money of an equal value.\n\t\t“Holder” means a person, wherever organized or domiciled, that is\n(i) in possession of property belonging to another; (ii) a trustee, in the case\nof a trust; or (iii) indebted to another on an obligation.\n\t\t“Insurance company” means an association, corporation, or\nfraternal or mutual benefit organization, whether or not for profit, that is\nengaged in providing insurance coverage, including accident, burial, casualty,\ncontract performance, credit life, dental, fidelity, fire, health,\nhospitalization, illness, life (including endowments and annuities),\nmalpractice, marine, mortgage, surety, and wage protection insurance.\n\t\t“Intangible property” includes (i) moneys, checks, drafts,\ndeposits, interest, and dividend income; (ii) credits, customer overpayments,\ngift certificates, security deposits, refunds, unpaid wages, and unidentified\nremittances; (iii) stocks and other intangible ownership interests in business\nassociations; (iv) moneys deposited to redeem stocks, bonds, coupons, and other\nsecurities or to make distributions; (v) amounts due and payable under the terms\nof insurance policies; and (vi) amounts distributable from a trust or custodial\nfund established under a plan to provide any health, welfare, pension, vacation,\nseverance, retirement, death, stock purchase, profit sharing, employee savings,\nsupplemental unemployment insurance, or similar benefit.\n\t\t“Last known address” means a description of the location of the\napparent owner sufficient to identify the state of residence of the apparent\nowner for the purpose of the delivery of mail.\n\t\t“Owner” means (i) a depositor, in the case of a deposit; (ii) a\nbeneficiary, in the case of a trust, other than a deposit in trust; (iii) a\ncreditor, claimant, or payee, in the case of other intangible property; or (iv)\na person having a legal or equitable interest in property subject to this\nchapter or his legal representative.\n\t\t“Payable” means the earliest date upon which the owner of\nproperty could become entitled to the payments, possession, delivery, or\ndistribution of such property from a holder.\n\t\t“Person” means an individual; a business association; a\ngovernment or governmental subdivision or agency, public corporation, or public\nauthority; an estate; a trust; two or more persons having a joint or common\ninterest; or any other legal or commercial entity.\n\t\t“Promotional incentive” means a coupon, rebate, or other\npromotional device offered to induce a consumer to purchase goods, food, or\nservices and for which (i) no direct consideration is given by the consumer or\n(ii) the consideration given is less than the value of the goods, food, or\nservices to be received.\n\t\t“State,” when applied to a part of the United States, includes\nany state, district, commonwealth, territory, and insular possession and any\nother area subject to the legislative authority of the United States.\n\t\t“Unclaimed property” means property for which the owner, as shown\nby the records of the holder of his property, has ceased, failed, or neglected,\nwithin the times provided in this chapter, to make presentment and demand for\npayment and satisfaction or to do any other act in relation to or concerning\nsuch property. As used in this definition, “act” excludes any act of\na holder of unclaimed property not done at the express request or authorization\nof the owner.\n\t\t“Utility” means a person that owns or operates, for public use,\nany plant, equipment, property, franchise, or license for the transmission of\ncommunications or the production, storage, transmission, sale, delivery, or\nfurnishing of electricity, water, steam, or gas.\n\nHISTORY: 1960, c. 330, \u00a7 55-210.2; 1981, c. 47; 1982, c. 331; 1983, c. 190;\n1984, c. 121; 1988, c. 378; 2000, cc. 733, 745; 2019, c. 712.","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}}