{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2509.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2509.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2509.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2509.html"}],"law_id":85940,"edition_id":1,"section_id":85940,"structure_id":13771,"section_number":"55.1-2509","catch_line":"Unclaimed demutualization proceeds","history":"2003, cc. 750, 765, \u00a7 55-210.4:2; 2019, c. 712.","full_text":"Unclaimed property payable or distributable in the course of the demutualization of an insurance company is presumed abandoned five years after the earlier of (i) the date of last contact with the policyholder or (ii) the date the property became payable or distributable. The report filed on November 1, 2003 will include demutualization distribution property for which there has been no policyholder contact for the five years prior to June 30, 2003.","order_by":null,"text":{"0":{"id":307815,"text":"Unclaimed property payable or distributable in the course of the demutualization of an insurance company is presumed abandoned five years after the earlier of (i) the date of last contact with the policyholder or (ii) the date the property became payable or distributable. The report filed on November 1, 2003 will include demutualization distribution property for which there has been no policyholder contact for the five years prior to June 30, 2003.","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}],"previous_section":{"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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2509\/","history_text":"<p>This law was first created in 2003. The record of its establishment is cataloged in chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?031+ful+CHAP0750\">750<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?031+ful+CHAP0765\">765<\/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. It has been modified 1 time. 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. That modification is as follows: in 2019, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?191+ful+CHAP0712\">712<\/a>.<\/p>","references":[{"id":62766,"section_number":"55.1-2508","catch_line":"Intangible personal property held by insurance corporation subject to \u00a7 55.1-2501","order_by":null,"url":"\/55.1-2508\/"},{"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\/"}],"refers_to":false,"permalink":{"id":247983,"object_type":"law","relational_id":85940,"identifier":"55.1-2509","token":"55.1\/V\/25\/1\/55.1-2509","url":"\/55.1-2509\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2509\/","token":"55.1\/V\/25\/1\/55.1-2509","dublin_core":{"Title":"Unclaimed demutualization proceeds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2509","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p><span class=\"dictionary\">Unclaimed property<\/span> <span class=\"dictionary\">payable<\/span> or distributable in the course of the demutualization of an <span class=\"dictionary\">insurance company<\/span> is presumed abandoned five years after the earlier of (i) the date of last contact with the policyholder or (ii) the date the property became <span class=\"dictionary\">payable<\/span> or distributable. The report filed on November 1, 2003 will include demutualization distribution property for which there has been no policyholder contact for the five years prior to June 30, 2003.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nUNCLAIMED DEMUTUALIZATION PROCEEDS (\u00a7 55.1-2509)\n\nUnclaimed property payable or distributable in the course of the demutualization\nof an insurance company is presumed abandoned five years after the earlier of\n(i) the date of last contact with the policyholder or (ii) the date the property\nbecame payable or distributable. The report filed on November 1, 2003 will\ninclude demutualization distribution property for which there has been no\npolicyholder contact for the five years prior to June 30, 2003.\n\nHISTORY: 2003, cc. 750, 765, \u00a7 55-210.4:2; 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}}