{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2514.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2514.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2514.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2514.html"}],"law_id":83377,"edition_id":1,"section_id":83377,"structure_id":13771,"section_number":"55.1-2514","catch_line":"Intangible personal property held in fiduciary capacity","history":"1960, c. 330, \u00a7 55-210.8; 1981, c. 47; 1982, c. 331; 1984, c. 121; 2000, cc. 733, 745; 2019, c. 712.","full_text":"A\n\nAll intangible personal property, and any income or increment thereon, held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner has, within five years after it became payable, increased or decreased the principal, accepted payment of principal or income, corresponded in writing concerning the property, or otherwise indicated an interest as evidenced by a memorandum or other record on file with and prepared by the fiduciary or an employee of the fiduciary.B\n\nFunds in an individual retirement account, a retirement plan for self-employed individuals, or a similar account or plan established pursuant to the Internal Revenue laws of the United States are not payable under this section unless, under the terms of the account or plan, distribution of all or part of the funds would then be mandatory.C\n\nFor the purpose of this section, a person who holds property as an agent for a business association is deemed to hold the property in a fiduciary capacity for that business association alone, unless such person’s agreement with the business association provides otherwise. A person who is so deemed to hold property in a fiduciary capacity for a business association alone is the holder of the property only insofar as the interest of the business association in the property is concerned, and the business association is the holder of the property insofar as the interest of any other person in the property is concerned.","order_by":null,"text":{"0":{"id":298721,"text":"All intangible personal property, and any income or increment thereon, held in a fiduciary capacity for the benefit of another person is presumed abandoned unless the owner has, within five years after it became payable, increased or decreased the principal, accepted payment of principal or income, corresponded in writing concerning the property, or otherwise indicated an interest as evidenced by a memorandum or other record on file with and prepared by the fiduciary or an employee of the fiduciary.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":298722,"text":"Funds in an individual retirement account, a retirement plan for self-employed individuals, or a similar account or plan established pursuant to the Internal Revenue laws of the United States are not payable under this section unless, under the terms of the account or plan, distribution of all or part of the funds would then be mandatory.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":298723,"text":"For the purpose of this section, a person who holds property as an agent for a business association is deemed to hold the property in a fiduciary capacity for that business association alone, unless such person’s agreement with the business association provides otherwise. A person who is so deemed to hold property in a fiduciary capacity for a business association alone is the holder of the property only insofar as the interest of the business association in the property is concerned, and the business association is the holder of the property insofar as the interest of any other person in the property is concerned.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2514\/","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 5 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 1984, chapter 121; in 2000, chapters 733<\/a> and 745<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":[{"id":84632,"section_number":"55.1-2522","catch_line":"Certain property not presumed abandoned in the Commonwealth","order_by":null,"url":"\/55.1-2522\/"}],"refers_to":false,"permalink":{"id":248003,"object_type":"law","relational_id":83377,"identifier":"55.1-2514","token":"55.1\/V\/25\/1\/55.1-2514","url":"\/55.1-2514\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2514\/","token":"55.1\/V\/25\/1\/55.1-2514","dublin_core":{"Title":"Intangible personal property held in fiduciary capacity","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2514","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> All intangible personal property, and any income or increment thereon, held in a fiduciary capacity for the benefit of another person<\/span> is presumed abandoned unless the owner<\/span> has, within five years after it became payable<\/span>, increased or decreased the principal, accepted payment of principal or income, corresponded in writing concerning the property, or otherwise indicated an interest as evidenced by a memorandum<\/span> or other record on file with and prepared by the fiduciary or an employee of the fiduciary. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Funds in an individual retirement account, a retirement plan for self-employed individuals, or a similar account or plan established pursuant to the Internal Revenue laws<\/span> of the United States are not payable<\/span> under this section unless, under the terms of the account or plan, distribution of all or part of the funds would then be mandatory. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> For the purpose of this section, a person<\/span> who holds property as an agent for a business association<\/span> is deemed to hold the property in a fiduciary capacity for that business association<\/span> alone, unless such person<\/span>’s agreement with the business association<\/span> provides otherwise. A person<\/span> who is so deemed to hold property in a fiduciary capacity for a business association<\/span> alone is the holder<\/span> of the property only insofar as the interest of the business association<\/span> in the property is concerned, and the business association<\/span> is the holder<\/span> of the property insofar as the interest of any other person<\/span> in the property is concerned. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINTANGIBLE PERSONAL PROPERTY HELD IN FIDUCIARY CAPACITY (\u00a7 55.1-2514)\n\nA. All intangible personal property, and any income or increment thereon, held\nin a fiduciary capacity for the benefit of another person is presumed abandoned\nunless the owner has, within five years after it became payable, increased or\ndecreased the principal, accepted payment of principal or income, corresponded\nin writing concerning the property, or otherwise indicated an interest as\nevidenced by a memorandum or other record on file with and prepared by the\nfiduciary or an employee of the fiduciary.\n\nB. Funds in an individual retirement account, a retirement plan for\nself-employed individuals, or a similar account or plan established pursuant to\nthe Internal Revenue laws of the United States are not payable under this\nsection unless, under the terms of the account or plan, distribution of all or\npart of the funds would then be mandatory.\n\nC. For the purpose of this section, a person who holds property as an agent for\na business association is deemed to hold the property in a fiduciary capacity\nfor that business association alone, unless such person’s agreement with\nthe business association provides otherwise. A person who is so deemed to hold\nproperty in a fiduciary capacity for a business association alone is the holder\nof the property only insofar as the interest of the business association in the\nproperty is concerned, and the business association is the holder of the\nproperty insofar as the interest of any other person in the property is\nconcerned.\n\nHISTORY: 1960, c. 330, \u00a7 55-210.8; 1981, c. 47; 1982, c. 331; 1984, c. 121;\n2000, 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}}