Virginia § 62.1-94 Duration of licenses; acquisition of developments by Commonwealth

Virginia Statutes

§ 62.1-94 — Duration of licenses; acquisition of developments by Commonwealth

Virginia § 62.1-94

Title 62.1WATERS OF THE STATE, PORTS AND HARBORS

Ch. 7WATER-POWER DEVELOPMENT, CONSERVATION OF HYDROELECTRIC POWER DAMS AND WORKS

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Bluebook

Va. Code Ann. § 62.1-94 (2026).

Text

All licenses granted under the provisions of this chapter shall remain in effect for a period of fifty years from and after the date of granting thereof. From and after the expiration of such terms of fifty years the licensee, its successors and assigns, shall hold the property and rights acquired under the authority of this chapter under an indeterminate license, which shall continue until such property and rights have been purchased by the Commonwealth, or until the same have been acquired by the Commonwealth by due process of law; provided that the right of the Commonwealth to take over, maintain and operate any development licensed under this chapter at any time by condemnation proceedings, upon payment of just compensation, is hereby expressly reserved.

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All licenses granted under the provisions of this chapter shall remain in effect for a period of fifty years from and after the date of granting thereof. From and after the expiration of such terms of fifty years the licensee, its successors and assigns, shall hold the property and rights acquired under the authority of this chapter under an indeterminate license, which shall continue until such property and rights have been purchased by the Commonwealth, or until the same have been acquired by the Commonwealth by due process of law; provided that the right of the Commonwealth to take over, maintain and operate any development licensed under this chapter at any time by condemnation proceedings, upon payment of just compensation, is hereby expressly reserved.