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1997 SESSION
971218180Patrons-- Croshaw, Drake, McDonnell, Purkey, Robinson, Tata, Wagner and Wardrup; Senator: Stolle
Be it enacted by the General Assembly of Virginia:
1. That §§ 33.1-124 and 33.1-128 of the Code of Virginia are amended and reenacted as follows:
§ 33.1-124. Proceedings for distribution of funds; effect of acceptance of payments; evidence as to amount of deposit or certificate.
Any person or persons shown by such certificate to be entitled thereto may
petition the court for the distribution of all or any part of the funds
deposited with the court pursuant to § 33.1-120 or represented by a
certificate recorded pursuant to § 33.1-121. A copy of such petition shall
be served on the Commonwealth Transportation Commissioner, his deputy or any
attorney authorized to accept service with a notice returnable to the court or
judge not less than twenty-one days after such service, to show cause, if
any, the Commissioner can, why such amount should not be distributed
in accordance with the prayers of the petition. If the Commissioner does not,
on or before the return day of the petition, show such cause, and if the record
in the proceeding does not disclose any denial or dispute with respect thereto,
the court shall enter an order directing the distribution of such amount in
accordance with the prayers of the petition. However, in the case of a
nonresident petitioner the court may in its discretion require a bond before
ordering the distribution. If funds have been deposited with the court pursuant
to § 33.1-120, any interest which has accrued on the funds shall be
payable to the person or persons entitled to receive such funds. If funds are
not then on deposit with the court but are represented by a certificate
pursuant to § 33.1-121, a certified copy of such order shall forthwith be
sent to the Commissioner by the clerk. It shall be the duty of the Commissioner
to deposit such funds with the court within twenty-one days of the date of such
order. Interest at the general account composite rate as set
forth in § 33.1-128 of eight percent annually shall be
payable on such funds from the date of filing of such certificate if the funds
are not deposited with the clerk when the certificate is filed. However, no
interest shall accrue if an injunction is filed against the Department of
Transportation for the taking.
If the Commissioner shows such cause, or if the record in the proceeding discloses any denial or dispute as to the persons entitled to such distribution or to any interest or share therein, the court shall direct such proceedings as are provided by § 25-46.28 for the distribution of awards.
However, the acceptance of such payment shall not limit the amount to be allowed by a commissioner in a condemnation proceeding, nor limit the rights of any party or parties to the proceeding to appeal from any decision therein; nor shall any party to such proceeding be entitled to introduce evidence of any amount deposited with the court or represented by a certificate, nor of any amount which has been accepted by any party entitled thereto pursuant to this section.
§ 33.1-128. Awards in greater or lesser amounts than deposit; interest.
In the event of an award in a condemnation proceeding being of a greater amount
than that deposited by virtue of a certificate, the excess amount, together
with interest accrued on such excess amount at the general account
composite rate, compiled by the Department of the
Treasury of Virginia for the month in which the award is rendered,
computed of eight percent annually from the date of
such deposit to the date of payment into court, shall be paid into court for
the person or persons entitled thereto, except that any interest which accrued
before July 1, 1970, shall be paid at the rate of five percent, and interest
accruing thereafter and prior to July 1, 1981, shall be paid at the rate of six
percent, and any interest accruing thereafter and prior to July 1, 1994,
shall be paid at the rate of eight percent. In no other instance shall
interest be allowed on any award. In the event of an award in a condemnation
proceeding being of a lesser amount than that deposited with the court, the
Commissioner shall recover the amount of such excess and, if any person has
been paid a greater sum than that to which he is entitled as determined by the
award, judgment shall be entered for the Commissioner against such person for
the amount of such excess.