56-231.31 - Payment of certain patronage capital to spouse or next of kin of deceased person. - Virginia Statutes

§ 56-231.31. Payment of certain patronage capital to spouse or next of kin ofdeceased person.

When there is held by any cooperative any patronage capital to the credit ofa deceased person, in an amount not exceeding $10,000, upon whose estatethere shall have been no qualification, it shall be lawful for such electriccooperative, after 120 days from the death of such person, to pay suchbalance to his or her spouse, and if none, to his or her next of kin, whosereceipt therefor shall be a full discharge and acquittance to such electriccooperative to all persons whomsoever on account of such patronage capital.

(1999, c. 874.)