CHAPTER 355

An Act to amend and reenact § 15-480, as amended, of the Code of
Virginia, relating to bonds of county treasurers so as to change the

requirements as to payment of premium.
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Be it enacted by the General Assembly of Virginia:

1. That § 15-480, as amended, of the Code of Virginia, be amended and
reenacted as follows:

§ 15-480. 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 information,
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 thou-
sand, the bond of the treasurer may be in such penalty as the court or
judge prescribes below thirty per centum but not less than fifteen per
centum 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-half by the State and the remaining *
one-half by the county of which the principal is a treasurer.

After the effective date of this act, the counties shall be reimbursed
from, the State treasury all amounts paid by such counties in excess of the
requirements of this act for premiums coming due during the year nineteen
hundred fifty-eight.