Any person who:
1. Commits larceny from the person of another of money or other thing of value of less than $5, or
2. Commits simple larceny not from the person of another of goods and chattels of the value of less than $500, except as provided in clause (iii) of § 18.2-95 , shall be deemed guilty of petit larceny, which shall be punishable as a Class 1 misdemeanor.
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