                                 CODE OF VIRGINIA

DISPOSITION OF UNCLAIMED FUNDS DUE ON MATURED BONDS OR COUPONS (§ 15.2-2603)

Any locality having bonds outstanding on which principal, premium or interest
has matured for a period of more than five years may pay any money being held to
pay the matured principal, premium or interest into the general fund of the
locality. The locality shall maintain a record of the bonds for which the funds
were held. Thereafter the owners of the matured bonds may look only to the
locality for payment.

HISTORY: Code 1950, § 15-666.17; 1958, c. 640; 1962, c. 623, § 15.1-174; 1991,
c. 668, § 15.1-227.6; 1997, c. 587.