25.1-310 - Proceedings for distribution of funds.
§ 25.1-310. Proceedings for distribution of funds.
A. Any person shown by a certificate to be entitled to funds deposited withthe court or represented by a certificate of deposit may petition the courtfor the distribution of all or any part of the funds.
B. A copy of such petition shall be served on either (i) the attorney ofrecord for the petitioner, if a condemnation proceeding is pending; or (ii)if such a proceeding is not pending, an officer or agent of the authorizedcondemnor who is authorized to accept service of process in any courtproceeding on behalf of the authorized condemnor.
C. The copy of the petition shall be served with a notice returnable to thecourt not less than 21 days after such service, to show cause, if theauthorized condemnor can, why such amount should not be distributed inaccordance with the petition.
D. If the authorized condemnor does not, on or before the return day of thepetition, show such cause, and if the record in the proceeding does notdisclose any denial or dispute with respect thereto, the court shall enter anorder directing the distribution of such amount in accordance with theprayers of the petition. However, in the case of a nonresident petitioner thecourt may in its discretion require a bond before ordering the distribution.
E. If funds have been deposited with the court pursuant to subdivision A 1 of§ 25.1-305, any interest that has accrued on the funds shall be payable tothe person or persons entitled to receive such funds.
F. If funds are not then on deposit with the court but are represented by acertificate of deposit pursuant to subdivision A 2 of § 25.1-305, a certifiedcopy of such order shall forthwith be sent to the authorized condemnor by theclerk. The authorized condemnor shall deposit such funds with the courtwithin 30 days of the date of such order.
G. Interest shall be payable on funds represented by a certificate of depositfrom the date of filing of the certificate of deposit until the funds arepaid into court at the general account's primary liquidity portfolio rate forthe month in which the order pursuant to this section is entered. However,interest shall not accrue if an injunction is filed against the authorizedcondemnor that enjoins the taking of the property described in thecertificate.
H. If the authorized condemnor shows such cause, or if the record in theproceeding discloses any denial or dispute as to the persons entitled to suchdistribution or to any interest or share therein, the court shall direct suchproceedings as are provided by § 25.1-241 for the distribution of awards.
(2003, c. 940.)