Chap. 453.—An ACT to amend and re-enact section 2699 of the Code of Vir-
ginia, which relates to bonds required of city treasurers. [H B 411]

Approved March 27, 1922.

1. Be it enacted by the general assembly of Virginia, That sec-
tion twenty-six hundred and ninety-nine of the Code of Virginia, which
relates to bonds required of city treasurers, be amended and re-
enacted so as to read as follows:

Section 2699. Bonds required of city treasurers.—Every city treas-
urer, at the time he qualifies, shall in addition to any bond required of
him by his city under its charter and ordinances, give a bond with
sufficient surety, in a penalty of not greater than one-half of the
amount of the State revenue, to be received annually by him, or less
than one-third thereof, payable to the Commonwealth, and with con-
dition for the faithful discharge of his official duties in relation to the
State revenue, and of such other official duties as are, or may be, 1m-
posed upon him by law otherwise than by the charter and ordinances
of his city ; but every such treasurer shall give as surety on his bond,
some guaranty or security company doing business in this State and
deemed sufficient by the court or judge before whom he qualifies.
The form of said bond shall be prescribed by the attorney general,
and such blank forms shall be furnished by the auditor of public ac-
counts to the clerks of the several courts; but nothing herein con-
tained shall be construed as requiring or authorizing the Common-
wealth to pay the cost of said security. No guaranty company do-
ing business in this State shall charge a greater rate of premium on
the bonds given under this section than it does on bomds of like
character of employees and officials generally; but if no guaranty
company doing business in this State will agree to furnish such bond
for such rate of premium, then such treasurer shall give such security
as may be aproved by the corporation court of his city in a penalty
of not less than double the amount to be annually received by him.

2. On and after this section as amended becomes effective each
city treasurer who has heretofore executed bond to secure the Com-
monwealth for the term of office commencing January first, nineteen
hundred and twenty-two, in conformity with provisions of this section.
as contained in the Code of Virginia, nineteen hundred and nineteen,
is authorized and permitted to execute bond in conformity with the
provisions of this section as amended, which bond shall take the place
of and be instead of the bond heretofore executed by any such treas-
urer for the term of office commencing January first, nineteen hundred
and twenty-two, and on and after the date of execution of bond in
conformity with provisions of this section as amended, the bond here-
tofore executed for the term of office commencing January first, nine-
teen hundred and twenty-two shall be void and of no effect except as
to liability thereunder, up to the time of the execution of bond in
accordance with provisions of this section as amended.

3. Any act of assembly of Virginia now in force relative to the
bond of treasurer of any city to secure the collection of funds of the
Commonwealth, the provisions of which are contrary to this act, be
and the same is hereby continued in force.

4. As city treasurers have been required, in order to conform
with the law, to execute bonds in penalties which are excessive for the
protection of the Commonwealth of Virginia, an emergency exists,
therefore, this act shall be in force from its passage.