{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2515.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2515.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2515.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2515.html"}],"law_id":75833,"edition_id":1,"section_id":75833,"structure_id":13771,"section_number":"55.1-2515","catch_line":"Gift certificates and credit balances","history":"1983, c. 190, \u00a7 55-210.8:1; 1988, cc. 595, 643; 2000, cc. 733, 745; 2019, c. 712.","full_text":"A\n\nExcept as described in subsection B, a gift certificate or credit balance issued in the ordinary course of the issuer’s business that has remained unclaimed by the owner for more than five years after such gift certificate or credit balance became payable is presumed abandoned.B\n\nThe following property is exempt from the provisions of this chapter and shall not be assessed by the administrator as unclaimed property: (i) credit balances payable to a business association; (ii) outstanding checks resulting from or attributable to the sale of goods or services to a business association; (iii) promotional incentives; and (iv) credits, gift certificates, coupons, layaways, and similar items, provided that such credits, gift certificates, coupons, layaways, and similar items are redeemable in merchandise, in services, or through future purchases.","order_by":null,"text":{"0":{"id":272319,"text":"Except as described in subsection B, a gift certificate or credit balance issued in the ordinary course of the issuer’s business that has remained unclaimed by the owner for more than five years after such gift certificate or credit balance became payable is presumed abandoned.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":272320,"text":"The following property is exempt from the provisions of this chapter and shall not be assessed by the administrator as unclaimed property: (i) credit balances payable to a business association; (ii) outstanding checks resulting from or attributable to the sale of goods or services to a business association; (iii) promotional incentives; and (iv) credits, gift certificates, coupons, layaways, and similar items, provided that such credits, gift certificates, coupons, layaways, and similar items are redeemable in merchandise, in services, or through future purchases.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2515\/","history_text":"

This law was first created in 1983. The record of its establishment is cataloged in chapter 190 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 1983 \u201cActs\u201d aren\u2019t available online. It has been modified 3 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 1988, chapters 595 and 643; in 2000, chapters 733<\/a> and 745<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":248007,"object_type":"law","relational_id":75833,"identifier":"55.1-2515","token":"55.1\/V\/25\/1\/55.1-2515","url":"\/55.1-2515\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2515\/","token":"55.1\/V\/25\/1\/55.1-2515","dublin_core":{"Title":"Gift certificates and credit balances","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2515","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Except as described in subsection B, a gift certificate<\/span> or credit balance<\/span> issued in the ordinary course of the issuer’s business that has remained unclaimed by the owner<\/span> for more than five years after such gift certificate<\/span> or credit balance<\/span> became payable<\/span> is presumed abandoned. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The following property is exempt from the provisions of this chapter and shall not be assessed by the administrator<\/span> as unclaimed property<\/span>: (i) credit balances<\/span> payable<\/span> to a business association<\/span>; (ii) outstanding checks resulting from or attributable to the sale of goods or services to a business association<\/span>; (iii) promotional incentives<\/span>; and (iv) credits, gift certificates<\/span>, coupons, layaways, and similar items, provided that such credits, gift certificates<\/span>, coupons, layaways, and similar items are redeemable in merchandise, in services, or through future purchases. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nGIFT CERTIFICATES AND CREDIT BALANCES (\u00a7 55.1-2515)\n\nA. Except as described in subsection B, a gift certificate or credit balance\nissued in the ordinary course of the issuer’s business that has remained\nunclaimed by the owner for more than five years after such gift certificate or\ncredit balance became payable is presumed abandoned.\n\nB. The following property is exempt from the provisions of this chapter and\nshall not be assessed by the administrator as unclaimed property: (i) credit\nbalances payable to a business association; (ii) outstanding checks resulting\nfrom or attributable to the sale of goods or services to a business association;\n(iii) promotional incentives; and (iv) credits, gift certificates, coupons,\nlayaways, and similar items, provided that such credits, gift certificates,\ncoupons, layaways, and similar items are redeemable in merchandise, in services,\nor through future purchases.\n\nHISTORY: 1983, c. 190, \u00a7 55-210.8:1; 1988, cc. 595, 643; 2000, cc. 733, 745;\n2019, 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}}