West Virginia § 36-8-5 Dormancy charge

West Virginia Statutes

§ 36-8-5 — Dormancy charge

West Virginia·Ch. 36 ESTATES AND PROPERTY·Art. 8 UNIFORM UNCLAIMED PROPERTY ACT

A holder may deduct from property presumed abandoned a charge imposed by reason of the owner's failure to claim the property within a specified time only if there is a valid and enforceable written contract between the holder and the owner under which the holder may impose the charge and the holder regularly imposes the charge, which is not regularly reversed or otherwise canceled. The amount of the deduction is limited to an amount that is not unconscionable.

Free access — add to your briefcase to read the full text and ask questions with AI

A holder may deduct from property presumed abandoned a charge imposed by reason of the owner's failure to claim the property within a specified time only if there is a valid and enforceable written contract between the holder and the owner under which the holder may impose the charge and the holder regularly imposes the charge, which is not regularly reversed or otherwise canceled. The amount of the deduction is limited to an amount that is not unconscionable.

West Virginia § 36-8-5 (Dormancy charge) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.