                                 CODE OF VIRGINIA

INTANGIBLE INTEREST IN BUSINESS ASSOCIATION (§ 55.1-2511)

A. Any intangible interest in a business association, as evidenced by the stock
records or membership records of the association, is presumed abandoned five
years after the date of the most recent dividend or other distribution unclaimed
by the apparent owner with respect to the stock or other interest or, if a
dividend or other distribution has not been paid on the stock or other interest,
or the stock or other interest is held pursuant to a plan that provides for the
automatic reinvestment of dividends or other distributions, five years after the
date of the second mailing of a statement of account or other notification or
communication that was returned as undeliverable or five years after the date
the holder discontinued the mailings to the apparent owner, whichever occurs
earlier. With respect to such interest, the business association shall be deemed
the holder.

B. Any dividend or other distribution held for or owing to a person at the time
the stock or other security to which such dividend or other distribution
attaches is considered abandoned at the same time.

HISTORY: 1970, c. 158, § 55-210.6:1; 1980, c. 293; 1981, c. 47; 1991, c. 357;
1995, c. 624; 2019, c. 712.