15.2-5431.23 - Disposition of unclaimed funds due on matured bonds or coupons. - Virginia Statutes

§ 15.2-5431.23. Disposition of unclaimed funds due on matured bonds orcoupons.

Any authority having bonds outstanding on which principal, premium orinterest has matured for a period of more than five years may pay any moneybeing held to pay the matured principal, premium or interest into the generalfund of the authority. Thereafter, the owners of the matured bonds may lookonly to the authority for payment. The authority shall maintain a record ofthe bonds for which the funds were held.

(2003, c. 643.)