Virginia Code 55.1-2513: Property of business associations held in course of dissolution.
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All intangible property distributable in the course of a voluntary or involuntary dissolution of a business association that remains unclaimed by the owner for more than one year after the date for specified final distribution is presumed abandoned.
Terms Used In Virginia Code 55.1-2513
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
1960, c. 330, § 55-210.7; 1981, c. 47; 1983, c. 190; 2019, c. 712.