                                 CODE OF VIRGINIA

PROPERTY PRESUMED ABANDONED; GENERAL RULE (§ 55.1-2501)

All tangible and intangible property, including any income or increment thereon,
less any lawful charges, that is held, issued, or owing in the ordinary course
of the holder&#8217;s business and has remained unclaimed by the owner for more
than five years after it became payable is presumed abandoned, except as
otherwise provided by this chapter. Property is payable for the purpose of this
chapter notwithstanding the owner&#8217;s failure to make demand or to present
any instrument or document required to receive payment.

HISTORY: 1984, c. 121, § 55-210.2:1; 1985, c. 294; 2000, cc. 733, 745; 2019, c.
712.