WVC 23 - 3 - 4
§23-3-4. Deposits and disbursements considered abandoned property;
disposition of property.
(a) All disbursements from the Workers' Compensation Fund and
the other funds created pursuant to this chapter including the
advance deposits by employers where there has been no activity for
a period of five years, are presumed abandoned and subject to the
custody of the state as unclaimed property under the provisions of
article eight, chapter thirty-six of this code. The funds shall be
kept in a separate account by the state treasurer, apart from other
unclaimed property funds. Ninety days after the state treasurer
has advertised the accounts and paid any claims, he or she shall
remit the balance of those funds held in the account to the credit
of the Workers' Compensation Fund or to other affected funds. Such
property shall become the property of, and owned exclusively by,
the Workers' Compensation Fund. Effective upon termination of the
Commission, said funds otherwise meeting the requirements of this
section shall be deposited into the old fund as set forth in
article two-c of this chapter.
(b) Notwithstanding any provision of law to the contrary, all
interest and other earnings accruing to the investments and
deposits of the Workers' Compensation Fund and of the other funds
created pursuant to this chapter are credited only to the account
of the Workers' Compensation Fund or to such other affected fund.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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