HB 1640

Abstract

Virginia Disposition of Unclaimed Property Act; administrator to exercise due diligence to locate owner. Requires the State Treasurer or his designee to exercise due diligence to locate the owner of unclaimed funds or abandoned property previously paid or delivered to the State Treasurer or his designee. Such exercise of due diligence shall include, if necessary, that the State Treasurer or his designee coordinate with the Tax Commissioner to provide the Department of the Treasury with relevant tax information for the purposes of locating such owner.

A BILL to amend the Code of Virginia by adding a section numbered 55.1-2526.1, relating to Virginia Disposition of Unclaimed Property Act; administrator to exercise due diligence to locate owner.