{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2533.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2533.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2533.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2533.html"}],"law_id":71685,"edition_id":1,"section_id":71685,"structure_id":12710,"section_number":"55.1-2533","catch_line":"Consideration of and hearing on claim by administrator; payment; interest","history":"1960, c. 330, \u00a7 55-210.21; 1981, c. 47; 2000, cc. 733, 745; 2004, c. 523; 2005, c. 118; 2019, c. 712.","full_text":"A\n\nThe administrator shall consider any claim for property held by the administrator pursuant to the provisions of this chapter that is filed under this chapter and may hold a hearing and receive evidence concerning such claim. If a hearing is held, he shall prepare a finding and a decision in writing on each claim filed, stating the substance of any evidence heard by him and the reasons for his decision. The decision shall be a public record.B\n\nIf the claim is allowed, the administrator shall make payment as soon as practical. The administrator is authorized to deduct from the claim the costs for notices, sales, and other related incurred expenses.C\n\nThe administrator shall add interest at the rate of five percent or such lesser rate as the property earned while in the possession of the holder, compounded annually, to the amount of any claim paid to the owner, if the property claimed was interest-bearing to the owner while in the possession of the holder. If the holder fails to report an applicable rate of interest, the interest rate will be set at five percent or such lesser rate as determined by the one-year Treasury Constant Maturity Rate as published by the Board of Governors of the Federal Reserve System as of November 1 of the report year. Such interest shall begin to accumulate on the date the property is delivered to the administrator and shall cease on the date on which payment is made to the owner. No interest shall be payable for any period prior to July 1, 1981.","order_by":null,"text":{"0":{"id":258306,"text":"The administrator shall consider any claim for property held by the administrator pursuant to the provisions of this chapter that is filed under this chapter and may hold a hearing and receive evidence concerning such claim. If a hearing is held, he shall prepare a finding and a decision in writing on each claim filed, stating the substance of any evidence heard by him and the reasons for his decision. The decision shall be a public record.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":258307,"text":"If the claim is allowed, the administrator shall make payment as soon as practical. The administrator is authorized to deduct from the claim the costs for notices, sales, and other related incurred expenses.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":258308,"text":"The administrator shall add interest at the rate of five percent or such lesser rate as the property earned while in the possession of the holder, compounded annually, to the amount of any claim paid to the owner, if the property claimed was interest-bearing to the owner while in the possession of the holder. If the holder fails to report an applicable rate of interest, the interest rate will be set at five percent or such lesser rate as determined by the one-year Treasury Constant Maturity Rate as published by the Board of Governors of the Federal Reserve System as of November 1 of the report year. Such interest shall begin to accumulate on the date the property is delivered to the administrator and shall cease on the date on which payment is made to the owner. No interest shall be payable for any period prior to July 1, 1981.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"ancestry":[{"id":12710,"edition_id":1,"name":"Procedural and Administrative Matters","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":12709,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":248045,"object_type":"structure","relational_id":12710,"identifier":"3","token":"55.1\/V\/25\/3","url":"\/55.1\/V\/25\/3\/","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":53937,"structure_id":12710,"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","url":"\/55.1-2524\/","token":"55.1\/V\/25\/3\/55.1-2524","metadata":false},{"id":73610,"structure_id":12710,"section_number":"55.1-2525","catch_line":"Notices to be published by administrator","url":"\/55.1-2525\/","token":"55.1\/V\/25\/3\/55.1-2525","metadata":false},{"id":66200,"structure_id":12710,"section_number":"55.1-2526","catch_line":"Holder relieved of liability for property paid or delivered to administrator; payment to owner by holder; proceedings against prior holder; notice to administrator and Attorney General; reimbursement of holder","url":"\/55.1-2526\/","token":"55.1\/V\/25\/3\/55.1-2526","metadata":false},{"id":63169,"structure_id":12710,"section_number":"55.1-2527","catch_line":"Crediting of dividends, interest, or increments to owner's account","url":"\/55.1-2527\/","token":"55.1\/V\/25\/3\/55.1-2527","metadata":false},{"id":66817,"structure_id":12710,"section_number":"55.1-2528","catch_line":"Periods of limitation","url":"\/55.1-2528\/","token":"55.1\/V\/25\/3\/55.1-2528","metadata":false},{"id":81656,"structure_id":12710,"section_number":"55.1-2529","catch_line":"Sale of abandoned property by administrator","url":"\/55.1-2529\/","token":"55.1\/V\/25\/3\/55.1-2529","metadata":false},{"id":71834,"structure_id":12710,"section_number":"55.1-2530","catch_line":"Securities received in name of owner","url":"\/55.1-2530\/","token":"55.1\/V\/25\/3\/55.1-2530","metadata":false},{"id":55939,"structure_id":12710,"section_number":"55.1-2531","catch_line":"Disposition of funds received under chapter; records to be kept by administrator","url":"\/55.1-2531\/","token":"55.1\/V\/25\/3\/55.1-2531","metadata":false},{"id":60102,"structure_id":12710,"section_number":"55.1-2532","catch_line":"Filing claim to property or proceeds of sale of such property","url":"\/55.1-2532\/","token":"55.1\/V\/25\/3\/55.1-2532","metadata":false},{"id":71685,"structure_id":12710,"section_number":"55.1-2533","catch_line":"Consideration of and hearing on claim by administrator; payment; interest","url":"\/55.1-2533\/","token":"55.1\/V\/25\/3\/55.1-2533","metadata":false},{"id":76385,"structure_id":12710,"section_number":"55.1-2534","catch_line":"Judicial review of decision of administrator","url":"\/55.1-2534\/","token":"55.1\/V\/25\/3\/55.1-2534","metadata":false},{"id":83185,"structure_id":12710,"section_number":"55.1-2535","catch_line":"Election of administrator not to receive property or to postpone taking possession of funds","url":"\/55.1-2535\/","token":"55.1\/V\/25\/3\/55.1-2535","metadata":false},{"id":72223,"structure_id":12710,"section_number":"55.1-2536","catch_line":"Requests for verified reports and examinations of records","url":"\/55.1-2536\/","token":"55.1\/V\/25\/3\/55.1-2536","metadata":false},{"id":65026,"structure_id":12710,"section_number":"55.1-2537","catch_line":"Retention of records","url":"\/55.1-2537\/","token":"55.1\/V\/25\/3\/55.1-2537","metadata":false},{"id":80599,"structure_id":12710,"section_number":"55.1-2538","catch_line":"Confidentiality of information and records","url":"\/55.1-2538\/","token":"55.1\/V\/25\/3\/55.1-2538","metadata":false},{"id":79673,"structure_id":12710,"section_number":"55.1-2539","catch_line":"Enforcement of chapter","url":"\/55.1-2539\/","token":"55.1\/V\/25\/3\/55.1-2539","metadata":false},{"id":55112,"structure_id":12710,"section_number":"55.1-2540","catch_line":"Interest and penalties","url":"\/55.1-2540\/","token":"55.1\/V\/25\/3\/55.1-2540","metadata":false},{"id":81697,"structure_id":12710,"section_number":"55.1-2541","catch_line":"Determinations; appeal procedures; regulations of administrator","url":"\/55.1-2541\/","token":"55.1\/V\/25\/3\/55.1-2541","metadata":false},{"id":62395,"structure_id":12710,"section_number":"55.1-2542","catch_line":"Agreements to locate reported property; penalty","url":"\/55.1-2542\/","token":"55.1\/V\/25\/3\/55.1-2542","metadata":false},{"id":64814,"structure_id":12710,"section_number":"55.1-2543","catch_line":"Property presumed abandoned or escheated under laws of another state","url":"\/55.1-2543\/","token":"55.1\/V\/25\/3\/55.1-2543","metadata":false},{"id":80911,"structure_id":12710,"section_number":"55.1-2544","catch_line":"Property held or payable pursuant to Title 51.1","url":"\/55.1-2544\/","token":"55.1\/V\/25\/3\/55.1-2544","metadata":false},{"id":68580,"structure_id":12710,"section_number":"55.1-2545","catch_line":"Construction of chapter","url":"\/55.1-2545\/","token":"55.1\/V\/25\/3\/55.1-2545","metadata":false}],"previous_section":{"id":60102,"structure_id":12710,"section_number":"55.1-2532","catch_line":"Filing claim to property or proceeds of sale of such property","url":"\/55.1-2532\/","token":"55.1\/V\/25\/3\/55.1-2532","metadata":false},"next_section":{"id":76385,"structure_id":12710,"section_number":"55.1-2534","catch_line":"Judicial review of decision of administrator","url":"\/55.1-2534\/","token":"55.1\/V\/25\/3\/55.1-2534","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2533\/","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 2000, chapters 733<\/a> and 745<\/a>; in 2004, chapter 523<\/a>; in 2005, chapter 118<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":[{"id":60102,"section_number":"55.1-2532","catch_line":"Filing claim to property or proceeds of sale of such property","order_by":null,"url":"\/55.1-2532\/"}],"refers_to":false,"permalink":{"id":248083,"object_type":"law","relational_id":71685,"identifier":"55.1-2533","token":"55.1\/V\/25\/3\/55.1-2533","url":"\/55.1-2533\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2533\/","token":"55.1\/V\/25\/3\/55.1-2533","dublin_core":{"Title":"Consideration of and hearing on claim by administrator; payment; interest","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2533","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The administrator<\/span> shall consider any claim for property held by the administrator<\/span> pursuant to the provisions of this chapter that is filed under this chapter and may hold a hearing<\/span> and receive evidence<\/span> concerning such claim. If a hearing<\/span> is held, he shall prepare a finding<\/span> and a decision in writing on each claim filed, stating the substance of any evidence<\/span> heard by him and the reasons for his decision. The decision shall be a public record. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If the claim is allowed, the administrator<\/span> shall make payment as soon as practical. The administrator<\/span> is authorized to deduct from the claim the costs for notices, sales, and other related incurred expenses. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The administrator<\/span> shall add interest at the rate of five percent or such lesser rate as the property earned while in the possession<\/span> of the holder<\/span>, compounded annually, to the amount of any claim paid to the owner<\/span>, if the property claimed was interest-bearing to the owner<\/span> while in the possession<\/span> of the holder<\/span>. If the holder<\/span> fails to report an applicable rate of interest, the interest rate will be set at five percent or such lesser rate as determined by the one-year Treasury Constant Maturity Rate as published by the Board of Governors of the Federal Reserve System as of November 1 of the report year. Such interest shall begin to accumulate on the date the property is delivered to the administrator<\/span> and shall cease on the date on which payment is made to the owner<\/span>. No interest shall be payable<\/span> for any period prior to July 1, 1981. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONSIDERATION OF AND HEARING ON CLAIM BY ADMINISTRATOR; PAYMENT; INTEREST (\u00a7\n55.1-2533)\n\nA. The administrator shall consider any claim for property held by the\nadministrator pursuant to the provisions of this chapter that is filed under\nthis chapter and may hold a hearing and receive evidence concerning such claim.\nIf a hearing is held, he shall prepare a finding and a decision in writing on\neach claim filed, stating the substance of any evidence heard by him and the\nreasons for his decision. The decision shall be a public record.\n\nB. If the claim is allowed, the administrator shall make payment as soon as\npractical. The administrator is authorized to deduct from the claim the costs\nfor notices, sales, and other related incurred expenses.\n\nC. The administrator shall add interest at the rate of five percent or such\nlesser rate as the property earned while in the possession of the holder,\ncompounded annually, to the amount of any claim paid to the owner, if the\nproperty claimed was interest-bearing to the owner while in the possession of\nthe holder. If the holder fails to report an applicable rate of interest, the\ninterest rate will be set at five percent or such lesser rate as determined by\nthe one-year Treasury Constant Maturity Rate as published by the Board of\nGovernors of the Federal Reserve System as of November 1 of the report year.\nSuch interest shall begin to accumulate on the date the property is delivered to\nthe administrator and shall cease on the date on which payment is made to the\nowner. No interest shall be payable for any period prior to July 1, 1981.\n\nHISTORY: 1960, c. 330, \u00a7 55-210.21; 1981, c. 47; 2000, cc. 733, 745; 2004, c.\n523; 2005, c. 118; 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}}