6.2-2310 - (Effective October 1, 2010) Sale of contents after two years. - Virginia Statutes

§ 6.2-2310. (Effective October 1, 2010) Sale of contents after two years.

A. After the expiration of two years from the time of mailing the certificateprovided for in § 6.2-2308, if the lessee has not obtained delivery of thecontents, the company shall:

1. Mail in a securely closed envelope, by registered or certified mail,return receipt requested, addressed to the lessee at his last knownpost-office address, a notice stating that two years have elapsed since theopening of the box and the mailing of the certificate, and that the companywill sell all the property or articles of value set out in the certificate ata time and place stated in the notice, which time shall be not less than 60days after the date of mailing such notice. The notice shall also state theamount due for rental, up to the time of opening the box, the cost of openingthe box, and the further cost of safekeeping of its contents for the periodsince the opening of the safe or box; and

2. Publish twice a notice of the time and place of the sale, not more than 20days prior to the sale, in a newspaper published in the locality where thesale will be held. If there is no newspaper published in the locality, thenin a newspaper published in the locality nearest thereto having a newspaper.

B. Unless the lessee pays, on or before the day stated in the notice, allsuch sums, and all the charges accruing to the time of payment, together withany charges for which the rental agreement provides, the company may sell allthe property or articles of value set out in such certificate for cash, atpublic auction, at the time and place stated in such notice.

(Code 1950, § 6-269; 1966, c. 584, § 6.1-338; 1997, c. 129; 2010, c. 794.)