Administrative Code

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Virginia Administrative Code
Title 1. Administration
Agency 75. Department of The Treasury
Chapter 40. Unclaimed Property Administrative Review Process

1VAC75-40-60. Administrative review process steps.

A. The request must be submitted to the administrator as agent for the State Treasurer within the prescribed time period.

B. The administrator will contact the applicant to schedule the administrative review meeting within 30 calendar days of the receipt of the request.

C. The administrative review will be held at the Department of the Treasury at an agreed upon time during the next 30 calendar days or at such later time as is mutually agreed upon by the applicant and the administrator. Prior to the review meeting, the applicant shall present any additional evidence and pertinent information supporting the basis for the request.

D. The review panel for the Department of the Treasury will consist of the State Treasurer or designee, the Director of Unclaimed Property or designee, and a representative from the Office of the Attorney General. A representative from the Division of Unclaimed Property Audit or Claims area may also participate in the administrative review meeting. The applicant may be assisted at the review meeting by his agent or by legal counsel, or both.

E. During the administrative review meeting, the applicant will have an opportunity to explain his reason for requesting a correction. Members of the State Treasurer's review panel may ask questions to clarify their understanding of the issues. There will be no examination or cross-examination of any of those present at the meeting. The Division of Unclaimed Property (Division) shall allow the applicant to make an audio recording of the administrative review meeting at the applicant's expense and using the applicant's equipment.

F. The State Treasurer's review panel has the ability to approve claims, correct errors and amend or withdraw any denial of payment letter or other written notice from the administrator or State Treasurer.

G. Based on the evidence and additional information presented during the review meeting, the State Treasurer will issue a written determination to the applicant within 90 days of the receipt of the request. The State Treasurer will notify the applicant and the administrator if a longer period is required. The State Treasurer's written determination will also advise the applicant of his right to seek judicial review pursuant to § 55.1-2534 of the Code of Virginia.

Statutory Authority

§ 55.1-2541 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 20, Issue 25, eff. September 22, 2004; amended, Virginia Register Volume 38, Issue 11, eff. March 3, 2022.

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