West Virginia Code 36-8-17 – Election to take payment or delivery
Current as of: 2023 | Check for updates
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(a) The administrator may decline to receive property reported under this article which the administrator considers to have a value less than the expenses of notice and sale.
Terms Used In West Virginia Code 36-8-17
- Administrator: means the State Treasurer. See West Virginia Code 36-8-1
- Holder: means a person obligated to hold for the account of, or deliver or pay to, the owner property that is subject to this article. See West Virginia Code 36-8-1
- Property: means tangible personal property described in section three of this article or a fixed and certain interest in intangible personal property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency or instrumentality, and all income or increments therefrom. See West Virginia Code 36-8-1
(b) A holder, with the written consent of the administrator and upon conditions and terms prescribed by the administrator, may report and deliver property before the property is presumed abandoned. Property so delivered must be held by the administrator and is not presumed abandoned until it otherwise would be presumed abandoned under this article.