§ 3.1-700. (Repealed effective October 1, 2008) Execution and terms of bond; action thereon
The bond herein referred to shall be executed by the applicant as principal and by a surety company qualified and authorized to do business in this Commonwealth as surety or by such personal surety as may be approved by the circuit court of the county or corporation or hustings court, or the judge thereof in vacation, of the county or city in which the applicant resides or has his principal office. The bond shall be conditioned upon compliance with the provisions of this law and upon the faithful and honest handling of farm products in accordance with the terms of this law. The bond shall be to the Commonwealth of Virginia in favor of every consignor of farm products. Any consignor of farm products claiming to be injured by the fraud, deceit or negligence of any commission merchant may bring action therefor upon the bond against either the principal, or the surety, or both in any court of competent jurisdiction to recover the damages caused by such fraud, deceit or negligence, or the failure to comply with the provisions of this article, or to make prompt and accurate settlement with such consignor.
(Code 1950, § 3-542; 1966, c. 702.)Sections: Previous 3.1-694 3.1-695 3.1-696 3.1-697 3.1-698 3.1-699 3.1-699.1 3.1-700 3.1-700.1 3.1-701 3.1-702 3.1-703 3.1-704 3.1-705 3.1-706 Next
Last modified: April 2, 2009