§ 54.1-4003. Bond required; private action on bond
A. No person shall be licensed as a pawnbroker or engage in the business of a pawnbroker without having in existence a bond with surety in the minimum amount of $50,000 to secure the payment of any judgment recovered under the provisions of subsection B.
B. Any person who recovers a judgment against a licensed pawnbroker for the pawnbroker's misconduct may maintain an action in his own name upon the bond of the pawnbroker if the execution issued upon such judgment is wholly or partially unsatisfied.
(Code 1950, § 54-845; 1988, c. 765; 1998, c. 848.)
Sections: Previous 54.1-4000 54.1-4001 54.1-4002 54.1-4003 54.1-4004 54.1-4005 54.1-4006 54.1-4008 54.1-4009 54.1-4010 54.1-4011 54.1-4012 54.1-4013 54.1-4014 NextLast modified: April 3, 2009