Administrative Code

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Virginia Administrative Code
Title 1. Administration
Agency 75. Department of the Treasury
Chapter 30. Regulations Governing Escheats

1VAC75-30-110. Reimbursable Expenses and Required Documents of the Auctioneer.

The auctioneer shall submit an expense report with supporting documentation to the State Treasurer within 30 days of the auction to ensure proper reimbursement of the auction expenses pursuant to § 55-186 of the Code of Virginia. Reimbursable expenses shall include: advertisements, postage, payroll, and any other expenses directly related to the auction, but in no case shall the expense reimbursement exceed 5.0% of the proceeds collected. Proceeds do not include recording fees.

Statutory Authority

§ 55-200.1 of the Code of Virginia.

Historical Notes

Derived from VR640-04-1 § 11, eff. July 1, 1992.

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