Chap. 252.—An ACT to cause all deposits or accounts in the several banks
and banking corporations or associutions in this Commonwealth, whereof
the depositor is unknown, or the person or persons, to whom such account
or deposit belongs, or belong, is, or are unknown, and against which
deposit or account there has been no check, draft or order for a period
of twenty-one years, by one entitled to check thereon, to escheat to the
Commonwealth; and to direct the manner of reporting same, and the
final disposition thereof. [S B 83]

Approved March 15, 1918.

1. Be it enacted by the general assembly of Virginia, That all
deposits or accounts with the several banks or banking corpora-
tions of this State, whereof the depositor’s whereabouts is unknown
to the bank or banking corporation or association wherein such
deposits or account is kept, or the whereabouts of anyone entitled
to such account or deposit is to it unknown, and against which
such deposit or account there has been no check, draft, or order
for a period of twenty-one years, by one entitled to check thereon,
shall escheat to the Commonwealth of Virginia.

2. That all banks or banking corporations or associations are
hereby required as of August first, in each and every year after
the passage of this act to make full and complete reports under
oath to the auditor of public accounts of all such deposits and ac-
counts. The same to be reported on or before the first day of Sep-
tember of each year and at the time or making such report all
of such deposits and accounts shall be paid into the State treasury
to the credit of the Commonwealth for the benefit of the literary
fund. Such bank or banking corporation or association shal] upon
such payment be relieved of all liability by reason of such pay-
ment. The auditor of public accounts, upon receipt of the reports
as herein provided shall publish twice a week for four successive
weeks in a newspaper published or having general circulation with-
in the county, city or town, in which the bank or banking corpo-
ration or association 1s located, a list showing the names of the de-
positors, the amount of the deposits and the names and addresses
of the banks or banking corporation or associations in which the
deposits or accounts are or were held; provided, however, that de-
posits or accounts of less than two dollars and fifty-cents in amount
shall not be included in the aforesaid published list. The expense
of such publication shall be paid from the funds so escheated, At
any time within ten years after the payment into the State treasury
of any deposit of money under the provisions of this act. the
person or persons who would have been the lawful owner or onwers
thereof, if the same had not been so paid, upon evidence of such
ownership satisfactory to the second auditor of Virginia, shall
be paid the principal amount thereof out of the literary fund upon

-
proper warrant by said second auditor of Virginia; but this pro-
vision for repayment shall in no wise limit or effect the remedy
at law as provided in the following section of this act.

4. If any action or suit shall be brought against any bank or
banking corporation or association for any amount escheated or
transferred to the literary fund under this act, said bank or bank-
ing corporation or association shall immediately notify the attorney
general, whose duty it shall be to defend all such claims; and a
duly certified copy of the final order of court for recovery by
any such claimant, shall be an order on the second auditor for
payment of the amount so recovered to the defendant bank or
banking corporation or association, provided that if any such bank
or banking corporation against which such claim might be asserted
has ceased to do business in this State such action or suit may be
instituted in and determined by the circuit court of the city of
Richmond against the auditor of public accounts, who shall notify
the attorney general to defend the same and the said court may
by order of publication and otherwise as it may deem proper give
notice to other or unknown parties that it may deem proper parties
defendant to such action or suit, and a duly certified copy of the
final order of such court for recovery, or, if appealed from of
the supreme court of appeals shall be an order on the second audi-
tor for payment to the claimant found by such court to be entitled
to the amount so found in such final order.

4