58.1-620 - Repossessions. - Virginia Statutes

§ 58.1-620. Repossessions.

A dealer who has paid the tax on tangible personal property sold under aretained title, conditional sale, or similar contract, may take credit forthe tax paid by him upon the unpaid balance due him when he repossesses theproperty, such credit to be reflected in the same manner as the credit forreturned purchases under § 58.1-619. When such repossessed property isresold, such sale is subject in all respects to this chapter.

(Code 1950, § 58-441.23; 1966, c. 151; 1984, c. 675.)