CHAPTER 86

AN ACT to amend and reenact § 15-480 of the Code of 1950 re-
lating to bonds of county treasurers so as to decrease the bond
of certain treasurers.

[S 95]

Approved March 3, 1950 |

Be it enacted by the General Assembly of Virginia: |
1. That § 15-480 of the Code of 1950 be amended and reenacted,
as follows:

§ 15-480. County treasurer may give corporate or personal
security; penalty; premium.—The county treasurer may give as
surety on his bond some guaranty or security company doing
business in the State and deemed sufficient by the court, judge or
clerk before whom he qualifies and he may execute such bond on
a form prescribed by the Attorney General, to be furnished by the
Comptroller to the clerks of the several courts, or he may give such
personal surety or security as may be deemed sufficient by the
court or judge before whom he qualifies; provided that upon in-
formation, or upon motion of any taxpayer, after ten days’ notice
to such treasurer, the court, or the judge of such court in vacation,
may at any time require additional surety or sureties, or security,
for good cause shown.

The penalty of the bond shall be such as the court or judge
may require but not less than * fifteen per centum of the amount
to be received annually by the treasurer; provided, that in any
county having a population of more than thirty-five thousand
and adjoining two cities lying wholly within this State each
of which has a population of more than fifty thousand, the bond of
the treasurer may be in such penalty as the court or judge pre-
scribes below thirty per centum but not less than fifteen per cen-
tum of the amount to be received annually by him.

The premium on such bond, if the surety be a corporate
surety, shall be paid in the proportion of one-third by the State
and the remaining two-thirds by the county of which the principal
is a treasurer. *