                                 CODE OF VIRGINIA

INVALIDATION OF CONTRACT; RECISION OF SALES (§ 2.2-3123)

A. Any contract made in violation of &#xA7; 2.2-3103 or &#xA7;&#xA7; 2.2-3106
through 2.2-3109 may be declared void and may be rescinded by the governing body
of the contracting or selling governmental agency within five years of the date
of such contract. In cases in which the contract is invalidated, the contractor
shall retain or receive only the reasonable value, with no increment for profit
or commission, of the property or services furnished prior to the date of
receiving notice that the contract has been voided. In cases of recision of a
contract of sale, any refund or restitution shall be made to the contracting or
selling governmental agency.

B. Any purchase by an officer or employee made in violation of &#xA7; 2.2-3103
or &#xA7;&#xA7; 2.2-3106 through 2.2-3109 may be rescinded by the governing body
of the contracting or selling governmental agency within five years of the date
of such purchase.

HISTORY: 1987, Sp. Sess., c. 1, § 2.1-639.20; 2001, c. 844.