CHAPTER 441

An Act to amend and reenact § 58-371.2, as amended, of the Code of
Virginia, relating to bondsmen, so as to authorize the governing
bodies of cities and counties to enact ordinances relative to such
bondsmen.

[S 426]

Approved April 1, 1952

Be it enacted by the General Assembly of Virginia:

1. That § 58-371.2, as amended, of the Code of Virginia be amended and
reenacted as follows:

§ 58-371.2. The governing body of any county * or city may by
ordinance require that every person who shall, for compensation, enter
into any bond or bonds for others, whether as a principal or surety, shall
obtain a revenue license the amount of which shall be prescribed in such
ordinance; and no such professional bondsman shall enter into any such
bond or bonds in any such county or city until he shall have obtained such
license. No such license shall be issued by the authorities of any such
county or city for any year unless and until the applicant shall have first
obtained a certificate from the judge of the circuit court that he is a person
of good moral character and entitled to be so licensed. A license granted
to a professional bondsman in any such county or city shall authorize such
person to enter into such bonds in such county or city.

No professional bondsman shall enter into any such bond if the aggre-
gate of the penalty of such bond and all other bonds on which he has not
been released from liability is in excess of the true market value of his real
estate. Each professional bondsman licensed hereunder shall file with the
clerk of the circuit court of the county or city in which he is licensed not
later than the fifth day of each month a list of all outstanding bonds on
which he was obligated as of the last day of the preceding month, together
with the amount of the penalty of each such bond.

Any agent for any professional bondsman qualified under this section
shall not act as such agent until he shall have first obtained a certificate
from the judge of the circuit court that he, the agent, is a person of good
moral character and is entitled to act as agent for such bondsman.

Any ordinance enacted pursuant to the provisions of this section may
provide for revocation of licenses for failure to comply with the terms of
rhe opunane: and may in addition prescribe penalties for violations

ereof.

Nothing in this section shall be construed to apply to guaranty, in-
demnity, fidelity and security companies doing business in Virginia under
the provisions of § 38-331.