6.2-2311 - (Effective October 1, 2010) Disposition of proceeds of sale. - Virginia Statutes

§ 6.2-2311. (Effective October 1, 2010) Disposition of proceeds of sale.

From the proceeds of any sale held pursuant to the provisions of § 6.2-2310,the company 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 any charges for which the rental agreement provides. The balance, ifany, of such proceeds shall be deposited to the credit of the lessee andshall be paid to the lessee or his assignee or legal representative, ondemand and upon production of satisfactory evidence of identity. The companyshall be liable to the lessee for interest on any balance so deposited at theannual rate of three percent.

(Code 1950, § 6-270; 1966, c. 584, § 6.1-339; 2010, c. 794.)