§ 38.2-2406. Requirements deemed met by insurer
Whenever a bond, undertaking, recognizance, guaranty, or similar obligation is required, permitted, authorized or allowed by any law of this Commonwealth, or whenever the performance of any act, duty or obligation, or the refraining from any act, is required, permitted, authorized or allowed to be secured or guaranteed by any law of this Commonwealth, the bond or similar obligation, or the security or guaranty, may be executed by any fidelity and surety insurer licensed to execute such instruments. The execution by any fidelity and surety insurer of a bond, undertaking, recognizance, guaranty or similar obligation by its officer, attorney-in-fact, or other authorized representative shall be accepted as fully complying with every law or other requirement, now or hereafter in force, requiring that the bond, undertaking, recognizance, guaranty or similar obligation be given or accepted or that it be executed by one or more sureties, or that the surety or sureties be residents, householders or freeholders, or possess any other qualifications.
(1952, c. 317, § 38.1-644; 1986, c. 562.)Sections: Previous 38.2-2400 38.2-2401 38.2-2402 38.2-2403 38.2-2404 38.2-2405 38.2-2406 38.2-2407 38.2-2408 38.2-2409 38.2-2410 38.2-2411 38.2-2412 38.2-2412.1 38.2-2412.2 Next
Last modified: April 3, 2009