When there is held by any telephone cooperative, engaged in the business of furnishing telephone service, any patronage capital to the credit of a deceased person, in an amount not exceeding $500, upon whose estate there shall have been no qualification, it shall be lawful for such telephone cooperative, after 120 days from the death of such person, to pay such balance to his or her spouse, and if none, to his or her next of kin, whose receipt therefor shall be a full discharge and acquittance to such telephone cooperative to all persons whomsoever on account of such patronage capital.
1979, c. 442.
Structure Code of Virginia
Title 56 - Public Service Companies
Chapter 16 - Telephone Cooperatives Act
§ 56-486. Who may form cooperative; purpose
§ 56-488. Certificate of incorporation
§ 56-489. Limitation of use of words "telephone cooperative."
§ 56-490. Filing certificate of incorporation
§ 56-491. Board of directors; officers
§ 56-492. Powers of board of directors
§ 56-493. Membership; voting; nonprofit operation
§ 56-494. Service to members; to nonmembers
§ 56-495. Powers granted corporation
§ 56-496. Disposition of property
§ 56-497. Issue of obligations
§ 56-499. Purchase of own obligations
§ 56-500. Consolidation or merger
§ 56-501.1. Payment of certain patronage capital to spouse or next of kin of deceased person
§ 56-502. Regulation by State Corporation Commission
§ 56-506. Construction of chapter; conflicting laws
§ 56-507. Adoption of provisions by existing corporation
§ 56-508. Extension of service to territory not being served