Chap. 26.—An ACT to amend and reenact Chapter 172 of the Acts of Assembly
of 1946, approved March 12, 1946, dealing with bonds that may be required
oi real estate salesmen and brokers, by requiring the Secretary of the Com-
monwealth as obligee. {S 57]

Approved February 20, 1948

Xe it enacted by the General Assembly of Virginia:

1. That chapter one hundred seventy-two of the Acts of
Assembly of nineteen hundred forty-six, approved March twelve,
nineteen hundred forty-six, be amended and reenacted as follows:

The governing body of any. county or city may require any
person who acts as a real estate salesman to post a bond in favor
of the Secretary of the Commonwealth of Virginia with good and
sufficient surety, not exceeding one thousand dollars ($1,000.00), and
1 the case of any person who acts as a real estate broker to post
sich a bond in the amount of not exceeding twenty-five hundred
dollars ($2,500.00) before doing business in such county or city.
For the purpose of this act the terms real estate salesman and real
estate broker shall be the same as those in chapter four hundred
‘ixty-one of the Acts of Assembly of nineteen hundred twenty-four,
as amended. Such bonds shall be filed with the Virginia Real Estate
Commission and the person required to file such bond shall notify
the Commissioner of Revenue of such county or city whether or
not he has complied with such requirement. The governing body
may prescribe such penalties for failure or refusal to file such bond
as are prescribed for violations of other ordinances.

No bond shall be accepted for filing unless it be with a surety
company Authorized to do business in this State, and shall be
conditioned that the principal named therein will not do any of the
acts, meriting suspension or revocation of his license under the
provisions of chapter four hundred sixty-one of the Acts of As-
sembly of nineteen hundred twenty-four, as amended. Any person
aggrieved by any act of the principal named in such bond in viola-
tion of the provisions of such chapter may proceed on such bond
against the principal or surety therein, or both, to recover damages.
All such proceedings shall be instituted in the circuit court of the
county or corporation court of the city where the violation occurred.