SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2010 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 8.3A-118.1 of the Code of Virginia is amended and reenacted as follows:
§ 8.3A-118.1. Statute of limitations on deposit accounts and certificates of deposit.
An action to enforce the obligations of a bank to pay all or part of the balance of a deposit account or certificate of deposit (collectively, a deposit) must be commenced within six years after the earlier of the following:
(1) If the deposit is a certificate of deposit to which subsection (e) of § 8.3A-118 applies, the date the six-year limitations period begins to run under subsection (e) of § 8.3A-118; or
(2) The later of:
(A) The maturity date of the deposit, as set forth in the
applicable deposit agreement;
(B) The due date of the deposit indicated in the bank's
last written notice of renewal;
(C B) The date of the last written communication
from the bank recognizing the bank's obligation with respect to the deposit; or
(D C) The last day of the taxable year for which
the owner of the deposit or the bank last reported interest income
earned on the deposit on a for federal or state income tax
return purposes.