CHAPTER 358

An Act to amend and reenact § 58-702 of the Code of Virginia, relating to
filing of other security in lieu of surety bond by certain dealers under
the Motor Fuel Taz Act of Virginia. 3 218)

Approved March 30, 1962

Be it enacted by the General Assembly of Virginia:

i That § 58-702 of the Code of Virginia be amended and reenacted as
ollows:

§ 58-702. Any dealer may deposit with the Commissioner, in lieu of
such surety bond required by § 58-695, negotiable bonds, which are direct
obligations of the United States Government or of the State of Virginia or
a certificate of deposit in some banking institution approved by the Com-
missioner, in an amount to be determined upon investigation by the Com-
missioner to be approximately three times the anticipated average monthly
motor fuel tax to become due by such dealer during the next succeeding
three calendar months.