                                 CODE OF VIRGINIA

TAKING CUSTODY OF INTANGIBLE UNCLAIMED PROPERTY; GENERAL RULES (§ 55.1-2502)

Unless otherwise provided in this chapter or by other law of the Commonwealth,
intangible property is subject to the custody of the Commonwealth as unclaimed
property if the conditions leading to a presumption of abandonment as described
in §§ 55.1-2501, 55.1-2503, and 55.1-2505 through 55.1-2521 are satisfied and:

1. The last known address, as shown on the records of the holder, of the
apparent owner is in the Commonwealth;

2. The records of the holder do not reflect the identity of the person entitled
to the property, and it is established that the last known address of the person
entitled to the property is in the Commonwealth;

3. The records of the holder do not reflect the last known address of the
apparent owner, and it is established that (i) the last known address of the
person entitled to the property is in the Commonwealth or (ii) the holder is a
domiciliary or a government or governmental subdivision or agency of the
Commonwealth and has not previously paid the property to the state of the last
known address of the apparent owner or other person entitled to the property;

4. The last known address, as shown on the records of the holder, of the
apparent owner or other person entitled to the property is in a state that does
not provide by law for the escheat or custodial taking of the property, or its
escheat or unclaimed property law is not applicable to the property, and the
holder is a domiciliary or a government or governmental subdivision or agency of
the Commonwealth;

5. The last known address, as shown on the records of the holder, of the
apparent owner is in a foreign nation, and the holder is a domiciliary or a
government or governmental subdivision or agency of the Commonwealth; or

6. a. The transaction out of which the property arose occurred in the
Commonwealth, and (i) the last known address of the apparent owner or other
person entitled to the property is unknown or (ii) the last known address of the
apparent owner or other person entitled to the property is in a state that does
not provide by law for the escheat or custodial taking of the property, or its
escheat or unclaimed property law is not applicable to the property; and
			b. The holder is a domiciliary of a state that does not provide by law for
the escheat or custodial taking of the property, or its escheat or unclaimed
property law is not applicable to the property.

HISTORY: 1984, c. 121, § 55-210.2:2; 2000, cc. 733, 745; 2019, c. 712.