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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The administrator shall credit the amount of interest earned to each owner’s account and shall pay the interest earned when a claim is paid on that account.
(b) In no event shall the administrator be required to pay the owner any income or gain realized or accruing on the account after the third anniversary of the payment of the owner’s interest to the administrator.
(c) Nothing in this section shall be construed to entitle an owner to interest on property which did not realize or accrue income or gain while in possession of the administrator.
Cite this article: FindLaw.com - West Virginia Code Chapter 37B. Mineral Development § 37B-2-6. Crediting of interest to owner’s account - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-37b-mineral-development/wv-code-sect-37b-2-6/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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