6.1-339 - (Repealed effective October 1, 2010) Disposition of proceeds of sale. - Virginia Statutes

§ 6.1-339. (Repealed effective October 1, 2010) Disposition of proceeds ofsale.

From the proceeds of any sale held pursuant to the provisions of thepreceding section (§ 6.1-338), the company, bank, trust company, or othercorporation, shall deduct all its charges, as stated in such notice, togetherwith any further charges that shall have accrued since the mailing thereof,including reasonable expenses for notices, advertising and sale, togetherwith legal interest on all such charges. The balance, if any, of suchproceeds, shall be deposited to the credit of such renter or lessee, and thesame shall be paid to such renter or lessee or his assignee, or legalrepresentative, on demand and upon production of satisfactory evidence ofidentity. The company, bank, trust company or other corporation shall beliable to such renter or lessee for interest on any balance so deposited atthe rate of three per centum per annum.

(Code 1950, § 6-270; 1966, c. 584.)