{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/55.1-2541.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/55.1-2541.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/55.1-2541.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/55.1-2541.html"}],"law_id":81697,"edition_id":1,"section_id":81697,"structure_id":12710,"section_number":"55.1-2541","catch_line":"Determinations; appeal procedures; regulations of administrator","history":"1960, c. 330, \u00a7 55-210.27; 2000, cc. 733, 745; 2019, c. 712.","full_text":"A\n\nFor the purposes of this section, “jeopardized by delay” means a finding that the applicant intends to undertake a wrongful act with the intent to prejudice, or to render ineffectual, future proceedings to enforce this chapter.B\n\nThe administrator may adopt necessary regulations to carry out the provisions of this chapter.C\n\nIf the administrator ascertains that any person has failed to pay or deliver abandoned property in accordance with the provisions of this chapter, he shall issue a written notice to such person demanding remittance of the property and payment of any penalties and interest prescribed by law. Every such notice shall be accompanied by a detailed explanation of the holder’s right to secure an administrative or judicial review. The abandoned property, together with penalties and interest, if any, shall be remitted to the administrator within 90 days from the date notice is received by the holder unless the holder requests (i) an administrative review in accordance with regulations promulgated pursuant to subsection D or (ii) a judicial review in accordance with § 55.1-2534.D\n\nThe administrator shall promulgate regulations pursuant to which any person (i) asserting ownership of property remitted to the Commonwealth under this chapter, (ii) required to pay or deliver abandoned property pursuant to this chapter, or (iii) otherwise aggrieved by a decision of the administrator may file an application for administrative appeal and correction of the administrator’s determination.E\n\nOn receipt of the application as provided in regulations promulgated pursuant to subsection D, or if regulations promulgated thereunder are not in effect, on receipt of an application requesting an administrative review by the State Treasurer, the administrator shall suspend collection activity until a final determination is issued by the State Treasurer, unless the administrator determines that collection would be jeopardized by delay. Interest shall continue to accrue in accordance with the provisions of § 55.1-2540, but no further penalty shall be imposed while collection activity is suspended.F\n\nIf the State Treasurer is satisfied, by evidence submitted or otherwise, that there has been an erroneous or improper demand for the remittance of property, the State Treasurer shall order that the applicant be exonerated from the remittance of such portion as is erroneously or improperly demanded, if not already collected, and that it be returned or refunded to the applicant, if already collected. The State Treasurer shall refrain from collecting a contested charge until he has made a final determination under this section unless he determines that collection may be jeopardized by delay.G\n\nExcept as otherwise provided in regulations promulgated pursuant to subsection D, the State Treasurer shall issue a written determination to the applicant within 90 days of receipt of an application for correction, unless the applicant is notified that a longer period will be required. All determinations of the State Treasurer shall include a written finding of fact and supporting law, and all such determinations shall be publicly reported.H\n\nFollowing a determination by the State Treasurer, the applicant may apply (i) in the case of a claim for property by a purported owner, to the appropriate circuit court pursuant to § 55.1-2534 and (ii) in the case of a dispute between a holder and the State Treasurer, to the Circuit Court of the City of Richmond, within the time period established in § 55.1-2534.","order_by":null,"text":{"0":{"id":292640,"text":"For the purposes of this section, “jeopardized by delay” means a finding that the applicant intends to undertake a wrongful act with the intent to prejudice, or to render ineffectual, future proceedings to enforce this chapter.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":292641,"text":"The administrator may adopt necessary regulations to carry out the provisions of this chapter.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":292642,"text":"If the administrator ascertains that any person has failed to pay or deliver abandoned property in accordance with the provisions of this chapter, he shall issue a written notice to such person demanding remittance of the property and payment of any penalties and interest prescribed by law. Every such notice shall be accompanied by a detailed explanation of the holder’s right to secure an administrative or judicial review. The abandoned property, together with penalties and interest, if any, shall be remitted to the administrator within 90 days from the date notice is received by the holder unless the holder requests (i) an administrative review in accordance with regulations promulgated pursuant to subsection D or (ii) a judicial review in accordance with § 55.1-2534.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":292643,"text":"The administrator shall promulgate regulations pursuant to which any person (i) asserting ownership of property remitted to the Commonwealth under this chapter, (ii) required to pay or deliver abandoned property pursuant to this chapter, or (iii) otherwise aggrieved by a decision of the administrator may file an application for administrative appeal and correction of the administrator’s determination.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":292644,"text":"On receipt of the application as provided in regulations promulgated pursuant to subsection D, or if regulations promulgated thereunder are not in effect, on receipt of an application requesting an administrative review by the State Treasurer, the administrator shall suspend collection activity until a final determination is issued by the State Treasurer, unless the administrator determines that collection would be jeopardized by delay. Interest shall continue to accrue in accordance with the provisions of § 55.1-2540, but no further penalty shall be imposed while collection activity is suspended.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":292645,"text":"If the State Treasurer is satisfied, by evidence submitted or otherwise, that there has been an erroneous or improper demand for the remittance of property, the State Treasurer shall order that the applicant be exonerated from the remittance of such portion as is erroneously or improperly demanded, if not already collected, and that it be returned or refunded to the applicant, if already collected. The State Treasurer shall refrain from collecting a contested charge until he has made a final determination under this section unless he determines that collection may be jeopardized by delay.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"6":{"id":292646,"text":"Except as otherwise provided in regulations promulgated pursuant to subsection D, the State Treasurer shall issue a written determination to the applicant within 90 days of receipt of an application for correction, unless the applicant is notified that a longer period will be required. All determinations of the State Treasurer shall include a written finding of fact and supporting law, and all such determinations shall be publicly reported.","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F","next_prefix":"H"},"7":{"id":292647,"text":"Following a determination by the State Treasurer, the applicant may apply (i) in the case of a claim for property by a purported owner, to the appropriate circuit court pursuant to § 55.1-2534 and (ii) in the case of a dispute between a holder and the State Treasurer, to the Circuit Court of the City of Richmond, within the time period established in § 55.1-2534.","type":"section","prefixes":["H"],"prefix":"H","entire_prefix":"H","prefix_anchor":"H","level":1,"prior_prefix":"G"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/55.1-2541\/","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 2 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 2000, chapters 733<\/a> and 745<\/a>; in 2019, chapter 712<\/a>.<\/p>","references":false,"refers_to":[{"id":76385,"section_number":"55.1-2534","catch_line":"Judicial review of decision of administrator","order_by":null,"url":"\/55.1-2534\/"},{"id":55112,"section_number":"55.1-2540","catch_line":"Interest and penalties","order_by":null,"url":"\/55.1-2540\/"}],"permalink":{"id":248115,"object_type":"law","relational_id":81697,"identifier":"55.1-2541","token":"55.1\/V\/25\/3\/55.1-2541","url":"\/55.1-2541\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/55.1-2541\/","token":"55.1\/V\/25\/3\/55.1-2541","dublin_core":{"Title":"Determinations; appeal procedures; regulations of administrator","Type":"Text","Format":"text\/html","Identifier":"\u00a7 55.1-2541","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> For the purposes of this section, “jeopardized by delay<\/span>” means a finding<\/span> that the applicant intends to undertake a wrongful act<\/span> with the intent<\/span> to prejudice, or to render ineffectual, future proceedings to enforce this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The administrator<\/span> may adopt necessary regulations to carry out the provisions of this chapter. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If the administrator<\/span> ascertains that any person<\/span> has failed to pay or deliver abandoned property in accordance with the provisions of this chapter, he shall issue<\/span> a written notice to such person<\/span> demanding remittance of the property and payment of any penalties and interest prescribed by law<\/span>. Every such notice shall be accompanied by a detailed explanation of the holder<\/span>’s right to secure an administrative or judicial review. The abandoned property, together with penalties and interest, if any, shall be remitted to the administrator<\/span> within 90 days from the date notice is received by the holder<\/span> unless the holder<\/span> requests (i) an administrative review in accordance with regulations promulgated pursuant to subsection D or (ii) a judicial review in accordance with § 55.1-2534<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The administrator<\/span> shall promulgate regulations pursuant to which any person<\/span> (i) asserting ownership of property remitted to the Commonwealth under this chapter, (ii) required to pay or deliver abandoned property pursuant to this chapter, or (iii) otherwise aggrieved by a decision of the administrator<\/span> may file an application for administrative appeal<\/span> and correction of the administrator<\/span>’s determination. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> On receipt of the application as provided in regulations promulgated pursuant to subsection D, or if regulations promulgated thereunder are not in effect, on receipt of an application requesting an administrative review by the State Treasurer, the administrator<\/span> shall suspend collection activity until a final determination is issued by the State Treasurer, unless the administrator<\/span> determines that collection would be jeopardized by delay<\/span>. Interest shall continue to accrue in accordance with the provisions of § 55.1-2540<\/a>, but no further penalty<\/span> shall be imposed while collection activity is suspended. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> If the State Treasurer is satisfied, by evidence<\/span> submitted or otherwise, that there has been an erroneous or improper demand for the remittance of property, the State Treasurer shall order<\/span> that the applicant be exonerated from the remittance of such portion as is erroneously or improperly demanded, if not already collected, and that it be returned or refunded to the applicant, if already collected. The State Treasurer shall refrain from collecting a contested charge until he has made a final determination under this section unless he determines that collection may be jeopardized by delay<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> Except as otherwise provided in regulations promulgated pursuant to subsection D, the State Treasurer shall issue<\/span> a written determination to the applicant within 90 days of receipt of an application for correction, unless the applicant is notified that a longer period will be required. All determinations of the State Treasurer shall include a written finding<\/span> of fact<\/span> and supporting law<\/span>, and all such determinations shall be publicly reported. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

H.<\/span> Following a determination by the State Treasurer, the applicant may apply (i) in the case of a claim for property by a purported owner<\/span>, to the appropriate circuit<\/span> court<\/span> pursuant to § 55.1-2534<\/a> and (ii) in the case of a dispute between a holder<\/span> and the State Treasurer, to the Circuit<\/span> Court<\/span> of the City of Richmond, within the time period established in § 55.1-2534<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDETERMINATIONS; APPEAL PROCEDURES; REGULATIONS OF ADMINISTRATOR (\u00a7 55.1-2541)\n\nA. For the purposes of this section, “jeopardized by delay” means a\nfinding that the applicant intends to undertake a wrongful act with the intent\nto prejudice, or to render ineffectual, future proceedings to enforce this\nchapter.\n\nB. The administrator may adopt necessary regulations to carry out the provisions\nof this chapter.\n\nC. If the administrator ascertains that any person has failed to pay or deliver\nabandoned property in accordance with the provisions of this chapter, he shall\nissue a written notice to such person demanding remittance of the property and\npayment of any penalties and interest prescribed by law. Every such notice shall\nbe accompanied by a detailed explanation of the holder’s right to secure\nan administrative or judicial review. The abandoned property, together with\npenalties and interest, if any, shall be remitted to the administrator within 90\ndays from the date notice is received by the holder unless the holder requests\n(i) an administrative review in accordance with regulations promulgated pursuant\nto subsection D or (ii) a judicial review in accordance with § 55.1-2534.\n\nD. The administrator shall promulgate regulations pursuant to which any person\n(i) asserting ownership of property remitted to the Commonwealth under this\nchapter, (ii) required to pay or deliver abandoned property pursuant to this\nchapter, or (iii) otherwise aggrieved by a decision of the administrator may\nfile an application for administrative appeal and correction of the\nadministrator’s determination.\n\nE. On receipt of the application as provided in regulations promulgated pursuant\nto subsection D, or if regulations promulgated thereunder are not in effect, on\nreceipt of an application requesting an administrative review by the State\nTreasurer, the administrator shall suspend collection activity until a final\ndetermination is issued by the State Treasurer, unless the administrator\ndetermines that collection would be jeopardized by delay. Interest shall\ncontinue to accrue in accordance with the provisions of § 55.1-2540, but no\nfurther penalty shall be imposed while collection activity is suspended.\n\nF. If the State Treasurer is satisfied, by evidence submitted or otherwise, that\nthere has been an erroneous or improper demand for the remittance of property,\nthe State Treasurer shall order that the applicant be exonerated from the\nremittance of such portion as is erroneously or improperly demanded, if not\nalready collected, and that it be returned or refunded to the applicant, if\nalready collected. The State Treasurer shall refrain from collecting a contested\ncharge until he has made a final determination under this section unless he\ndetermines that collection may be jeopardized by delay.\n\nG. Except as otherwise provided in regulations promulgated pursuant to\nsubsection D, the State Treasurer shall issue a written determination to the\napplicant within 90 days of receipt of an application for correction, unless the\napplicant is notified that a longer period will be required. All determinations\nof the State Treasurer shall include a written finding of fact and supporting\nlaw, and all such determinations shall be publicly reported.\n\nH. Following a determination by the State Treasurer, the applicant may apply (i)\nin the case of a claim for property by a purported owner, to the appropriate\ncircuit court pursuant to § 55.1-2534 and (ii) in the case of a dispute\nbetween a holder and the State Treasurer, to the Circuit Court of the City of\nRichmond, within the time period established in § 55.1-2534.\n\nHISTORY: 1960, c. 330, \u00a7 55-210.27; 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}}