§ 58.1-2415. Other security in lieu of surety bond
Any rentor may deposit with the Commissioner, in lieu of a surety bond, negotiable bonds which are direct obligations of the United States government or of the Commonwealth of Virginia or a certificate of deposit in some banking institution approved by the Commissioner. The other security shall be in an amount to be determined upon investigation by the Commissioner or to be approximately three times the anticipated average monthly tax to become due by the rentor in the next succeeding three months. In no case shall the amount of other security be less than $500 nor more than $20,000.
(Code 1950, § 58-685.17:4; 1982, c. 141; 1984, c. 675.)
Sections: Previous 58.1-2408 58.1-2409 58.1-2410 58.1-2411 58.1-2412 58.1-2413 58.1-2414 58.1-2415 58.1-2416 58.1-2417 58.1-2418 58.1-2419 58.1-2420 58.1-2421 58.1-2422 NextLast modified: April 3, 2009