2006 Code of Virginia § 46.2-1527.3 - Recovery from Fund, generally

46.2-1527.3. Recovery from Fund, generally.

Except as otherwise provided in this chapter, whenever any person is awardeda final judgment in a court of competent jurisdiction in the Commonwealth for(i) any loss or damage in connection with the purchase or lease of a motorvehicle by reason of any fraud practiced on him or fraudulent representationmade to him by a licensed or registered motor vehicle dealer participating inthe Motor Vehicle Transaction Recovery Fund or one of a dealer's salespersonsacting for the dealer or within the scope of his employment or (ii) any lossor damage by reason of the violation by a dealer or salesperson participatingin the Motor Vehicle Transaction Recovery Fund of any of the provisions ofthis chapter in connection with the purchase of a motor vehicle on or afterJanuary 1, 1989, or the lease of a motor vehicle on or after October 1, 1998,the judgment creditor may file a verified claim with the Board, requestingpayment from the Fund of the amount unpaid on the judgment. The claim shallbe filed with the Board no sooner than 30 days and no later than 12 monthsafter the judgment becomes final.

On or after the effective date of this act, the Board shall consider forpayment claims submitted by retail purchasers of motor vehicles, and forpurchases of motor vehicles by licensed or registered motor vehicle dealerswho contribute to the Fund. The Board shall also consider for payment claimssubmitted by lessees of motor vehicles leased on or after October 1, 1998,from licensed or registered motor vehicle dealers who contribute to the Fund.

(1994, c. 478; 1995, cc. 767, 816; 1998, c. 325; 2003, c. 331.)