CHAPTER 523

An Act to amend and reenact § 58-371.2, as amended, of the Code of
Virginia, relating to licensing and qualifications of professional bonds-

men.
[H 487]
Approved March 31, 1960

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 ordi-
nance 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 or his agent shall enter into
any such bond or bonds in any such county or city until he shall have
obtained such license. With the exception of any bondsman or his agent
who has heretofore obtained a certificate and license under this section and
whose certificate, license and right to act as a bondsman continues to
remain in full force and effect, no such license shall be issued by the
authorities of any such county or city * unless and until the applicant shall
have first obtained a certificate from the judge of the circuit court of the
county, or the judge of the corporation, * or hustings court, or of the circuit
court if there be no corporation or hustings court of the city, in which he
desires to carry on the business of professional bondsman, * approving
the issuance of the license and certifying that the applicant is of good
moral character, that his past conduct before the courts of said county or
city has not been unsatisfactory and is suitable to be so licensed, and pro-
vided further that before the issuance of such certificate the judge of the
corporation, hustings or circuit court, as the case may be, may confer with
the judge or judges of those courts in which such bondsman seeks to act.
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
aggregate 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 a county or the corporation, circuit
or hustings court of the 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 professional bondsman or agent for any professional bondsman,
qualified under this section, shall be subject to and governed by any rea-
sonable rules of conduct or procedure set up by the judge or justice of the
court in which he is acting as a bondsman which may include a requirement
that such bondsman or agent place a reasonable amount of cash or negotia-
ble bonds in escrow with the clerk of said court to be held during the time
such bondsman or agent is acting as a bondsman in said court, provided
that said clerk is acting under a bond of sufficient amount and coverage
to insure protection against loss, theft, or misappropriation. Upon his vio-
lation of such rules, he may, after hearing upon a charge of such viola-
tion, be suspended from entering into further bonds in said court by the
judge or justice thereof. If such bondsman or agent fails to have in escrow
with the clerk of said court a sum sufficient to cover any forfeiture of
bond against him and fails or refuses to pay such forfeiture after notice
and demand by the judge or justice of the court he may be suspended by
such judge or justice from entering into further bonds in said court until
the forfeiture is paid or it is adjudicated that he is not liable thereon.

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

ereof.

Nothing in this section shall be construed to apply to guaranty,
indemnity, fidelity and security companies doing business in Virginia
under the provisions of §§ 38.1-269 to 38.1-657.