55-210.4:2 - Unclaimed demutualization proceeds - Virginia Statutes

§ 55-210.4:2. Unclaimed demutualization proceeds.

Unclaimed property payable or distributable in the course of thedemutualization of an insurance company is presumed abandoned five yearsafter the earlier of (i) the date of last contact with the policyholder or(ii) the date the property became payable or distributable. The report filedon November 1, 2003 will include demutualization distribution property forwhich there has been no policyholder contact for the five years prior to June30, 2003.

(2003, cc. 750, 765.)