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2013 SESSION

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13102716D
HOUSE BILL NO. 2267 Offered January 15, 2013 A BILL to amend the Code of Virginia by adding a section numbered 19.2-10.3, relating to proceeds of criminal activity; freeze of assets. ---------- Patrons-- Ramadan, Albo and Minchew ---------- Referred to Committee for Courts of Justice ----------

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 19.2-10.3 as follows:

§ 19.2-10.3. Proceeds of criminal activity; freeze of assets.

A. The attorney for the Commonwealth for the jurisdiction where the owner or holder of an account or safe deposit box held by a financial institution as defined in § 6.2-604 has been charged with a crime or offense may petition the circuit court to freeze the account or safe deposit box. The court shall enter an order freezing the account or safe deposit box for a period not to exceed 90 days if it finds (i) probable cause exists to believe that the account or safe deposit box contains, in whole or in part, the proceeds of the crime or offense with which the owner or holder has been charged, and (ii) there is reason to believe that the contents of the account or safe deposit box are likely to be removed and would be unable to be recovered if the owner or holder is convicted of the crime or offense charged. Prior to the expiration of the order, the attorney for the Commonwealth may petition the circuit court for an extension of the order for a period not to exceed 30 days, and nothing herein shall limit the number of extensions that may be granted. The attorney for the Commonwealth shall send notice of the order, and any extension of the order, by certified mail to all known holders or owners of the account or safe deposit box.

B. Any owner or holder of the account or safe deposit box frozen under subsection A may petition the circuit court to unfreeze the account or safe deposit box at any time prior to the expiration of the order entered under subsection A. A hearing on the petition shall be held within 10 days after notice of the petition is served on the attorney for the Commonwealth who requested the freeze.

C. No financial institution or officer or employee of such institution shall be liable for complying with an order entered under subsection A.