§ 38.2-4008. Fidelity bond required
As a condition of licensing, each burial society, on behalf of its officers who are charged with the duty of handling its funds, shall obtain, and thereafter for as long as the license remains in effect keep in force, a surety bond with corporate security approved by the Commission. The bond shall be in an amount, not less than $10,000 nor more than $100,000, to be fixed by the Commission. The bond shall secure to the society and its members the faithful performance of its officers' duties and a proper accounting of its funds. The Commission may require the society to provide certification of compliance with the requirements of this section.
(Code 1950, § 38-148; 1952, c. 317, § 38.1-558; 1986, c. 562; 2001, c. 706; 2002, c. 147.)
Sections: Previous 38.2-4001 38.2-4002 38.2-4003 38.2-4004 38.2-4005 38.2-4006 38.2-4007 38.2-4008 38.2-4009 38.2-4010 38.2-4011 38.2-4012 38.2-4013 38.2-4014 38.2-4015 NextLast modified: April 3, 2009