Virginia § 8.3A-118.1 - Statute of limitations on deposit accounts and certificates of deposit
Full text of Virginia Code of Virginia § 8.3A-118.1 — Statute of limitations on deposit accounts and certificates of deposit, with citation guidance and answers to common questions.
§ 8.3A-118.1. Statute of limitations on deposit accounts and certificates of deposit
A. An action to enforce the obligations of a bank to pay all or part of the balance of a deposit account or certificate of deposit (collectively, a deposit) must be commenced within six years after the earlier of the following:
(1) If the deposit is a certificate of deposit to which subsection (e) of § 8.3A-118 applies, the date the six-year limitations period begins to run under subsection (e) of § 8.3A-118; or
(2) The later of:
(A) The due date of the deposit indicated in the bank's last written notice of renewal;
(B) The date of the last written communication from the bank recognizing the bank's obligation with respect to the deposit; or
(C) The last day of the taxable year for which the owner of the deposit or the bank last reported interest income earned on the deposit for federal or state income tax purposes.
B. This section shall apply to negotiable and non-negotiable certificates of deposit.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 8.3A-118.1
What does Code of Virginia § 8.3A-118.1 cover?
Section 8.3A-118.1 ("Statute of limitations on deposit accounts and certificates of deposit") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 8.3A-118.1?
A common citation format is "Code of Virginia § 8.3A-118.1" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 8.3A-118.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.