60.2-503 - Authority to terminate elections.
§ 60.2-503. Authority to terminate elections.
If any nonprofit organization is delinquent in making payments in lieu oftaxes as required under subsection C of § 60.2-501, the Commission mayterminate such organization's election to make payments in lieu of taxes asof the beginning of the next taxable year, and such termination shall beeffective for that and the next taxable year.
(1974, c. 466, § 60.1-89; 1981, cc. 248, 252; 1986, c. 480.)