CHAPTER 521

An Act to amend and reenact § 54-767 of the Code of Virginia, relating
to bond required for real estate salesmen and brokers. (H 488]

Approved March 31, 1960

Be it enacted by the General Assembly of Virginia:
ba That § 54-767 of the Code of Virginia be amended and reenacted as

ollows:

§ 54-767. The governing body of any county * , city or town may
require any person who acts as a real estate salesman to post a bond in
favor of the Secretary of the Commonwealth with good and sufficient
surety, not exceeding * fifteen thousand dollars, and in the case of any
person who acts as a real estate broker to post such a bond in the amount
of not exceeding * thirty thousand dollars before doing business in such
county * , city or town. 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.