West Virginia Code 36-8-18 – Destruction or disposition of property having no
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substantial commercial value; immunity from
Terms Used In West Virginia Code 36-8-18
- 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
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any territory or insular possession subject to the jurisdiction of the United States. See West Virginia Code 36-8-1
liability.
If the administrator determines after investigation that property delivered under this article has no substantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. An action or proceeding may not be maintained against the state or any officer or against the holder for or on account of an act of the administrator under this section, except for intentional misconduct or malfeasance.