CHAPTER 317

An Act to amend the Code of Virginia by adding a section numbered
58-735.4, relating to giving of assignment of securities deposited in
lieu of surety bond.

[(S 118]

Approved March 30, 1962

Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia be amended by adding a section numbered
58-735.4 as follows:

§ 58-735.4. Any person who shall so deposit with the Commissioner
bonds of the United States Government or of the State of Virginia, or a
certificate of deposit, in lieu of filing a surety bond, shall at the time
deliver to the Commissioner an assignment authorizing him to use the
bonds or any part thereof, or to receive payment of the certificate of de-
posit as the case may be, for the purpose of paying any liability of the per-
son to the State for special fuels tax due and payable by him, including any
and all penalties and interest accrued thereon and any damages for which
he may be liable by reason of his failure to comply with any of the other
provisions of this chapter.