CHAPTER 321

An Act to amend and reenact § 58-785.8, of the Code of Virginia, relating
to the deposit of securities in lieu of bond. ;
[(S 122]

Approved March 30, 1962

Be it enacted by the General Assembly of Virginia:

1. That § 58-735.3 of the Code of Virginia be amended and reenacted as
follows:

§ 58-735.3. Any person, required by the provisions of § 58-735.1 to
file a surety bond, may, in lieu thereof, deposit with the Commissioner
negotiable bonds, which are direct obligations of the United States Govern-
ment or of the Commonwealth of Virginia * or a certificate of deposit in
some banking institution approved by the Commissioner, in an amount to
be determined upon investigation by the Commissioner to be approximately
three times the anticipated average monthly special fuels tax to become
due by such person during the next succeeding three calendar months.
An Act to amend and reenact § 58-726 of the Code of Virginia, relating to
the estimating of motor fuel not properly reported, to provide for giv-
ing notice of the Commissioner’s assessment.

[S 124]

Approved March 30, 1962

Be it enacted by the General Assembly of Virginia:

1. That § 58-726 of the Code of Virginia be amended and reenacted as
follows:

§ 58-726. Whenever any dealer shall neglect or refuse to make and
file any report for any calendar month as required by this chapter or
shall file an incorrect or fraudulent report, the Commissioner shall de-
termine, from any information obtainable, the number of gallons of motor
fuel with respect to which the dealer has incurred liability under the
motor fuel tax laws of the State * and is authorized to make an assessment
therefor against such dealer. The notice of said assessment shall be forth-
with sent to such dealer by registered or certified mail to the address of
such dealer as it appears on the records in the office of the Division of
Motor Vehicles at Richmond, Virginia. Such notice, when sent in accord-
ance with these requirements, shall be sufficient regardless of whether or
not it was ever received.