Chap. 16.—An ACT to amend and re-enact section 5772 of the Code of Virginia,
relating to how securities on bonds of State depositaries relieved; duty of
treasurer. | [S B 18]

Approved February 13, 1932

1. Be it enacted by the general assembly of Virginia, That section
fifty-seven hundred and seventy-two of the Code of Virginia, be
amended and re-enacted so as to read as follows:

Section 5/72. The surety in any bond, required of a depositary by
section twenty-one hundred and fifty-eight, may petition the finance
board to be relieved from the obligation, and the finance board, upon
proof of reasonable notice, which shall not be less than thirty days, to
such depositary, of the said petition, shall require the said depositary
to give a new bond in the same manner as if none had been given.
And the treasurer of the State, upon notice of the said petition, shall
make no further deposits with the said depositary until after such new
bond shall have been given, approved, and accepted. And if said de-
positaries do not give surety bond or approved securities as required
by section twenty-one hundred and fifty-eight of the Code of Virginia,
he shall forthwith withdraw such deposit as may be with such
depositary.

When any such depositary shall petition the finance board that
such depositary be allowed to give a new bond and cancel its existing
bond, the finance board may, when the depositary shall have given a
new bond in the same manner as if none had been given by it, allow
the depositary to cancel its old bond.

Chap. 17—An ACT to amend and re-enact section 2602 of the Code of Virginia,
relating to exchange and transfer of bonds. [S B 21]

Approved February 13, 1932

1, Beit enacted by the general assembly of Virginia, That section
twenty-six hundred and two of the Code of Virginia, be amended and
re-enacted so as to read as follows:

Section 2602. The commissioners of the sinking fund are author-
ized to exchange coupon bonds issued under this chapter into regis-
tered bonds in the denominations hereinbefore provided, and to ar-
range for the transfer of registered bonds. Bonds so taken in ex-
change shall be cancelled in the manner hereinbefore prescribed.