CHAPTER 536

An Act to amend and reenact § 64-123 of the Code of Virginia, relating to
money and personal property belonging to nonresident decedents.

[S 351]
Approved March 30, 1956

Be it enacted by the General Assembly of Virginia:

1. That § 64-123 of the Code of Virginia be amended and reenacted
as follows:

§ 64-123. When any person, at the time of his death domiciled
outside of this State, shall own stocks, bonds or other securities or money
located in this State or shall be entitled to any debts or choses in action
in this State, such stocks, bonds, other securities, money, debts and other
choses in action * shall, for ninety days from the death of such decedent,
be retained in the possession of the person, firm or corporation holding or
owing the same, after which period of time such portion thereof as to
which the person, firm or corporation shall not have received legal notice
of any lien or encumbrance, shall be paid over or delivered on demand to an
executor or an administrator or other personal representative, duly quali-
fied according to the laws of the decedent’s domicile * ; provided, however,
that the value of such stocks, bonds, other securities, money, debts and
other choses in action in this State, to the knowledge of the person holding
or owing the same, is less than one thousand dollars. When the valud of
such stock, bonds, other securities, money, debts and other choses in action
is one thousand dollars or more, such payment or delivery of such stocks,
bonds, other securities, money, debts and other choses in action may be
made upon the expiration of such ninety-day period after the transferor
shall have given public notice of his intention to make such transfer by
publication thereof once a week for four successive weeks in a news-
paper of general circulation in the city, town or county wherein the
transferor resides or has its principal place of business, and after the
lapse of thirty days from the completion of such publication, and pro-
vided, in either case, that at the time of such payment or delivery, the
transferor has no actual notice of the appointment, within this State, of a
personal representative for such decedent.

This section shall be construed as providing, as to the payment of
money and the delivery of personal property belonging to nonresident
decedents or their estates, optional methods of procedure in addition to
those otherwise permitted or provided by law, and shall not as to such
matters add any limitations or restrictions to existing law.