Code of Virginia

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Code of Virginia
Title 55.1. Property and Conveyances
Chapter 25. Virginia Disposition of Unclaimed Property Act

§ 55.1-2509. Unclaimed demutualization proceeds.

Unclaimed property payable or distributable in the course of the demutualization of an insurance company is presumed abandoned five years after the earlier of (i) the date of last contact with the policyholder or (ii) the date the property became payable or distributable. The report filed on November 1, 2003 will include demutualization distribution property for which there has been no policyholder contact for the five years prior to June 30, 2003.

2003, cc. 750, 765, § 55-210.4:2; 2019, c. 712.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.