CHAPTER 586

An Act to amend and reenact § 58-629.1 of the Code of Virginia, relating
to bonds given by and refunds to certain motor carriers. rH 684)

Approved March 31, 1962

Be it enacted by the General Assembly of Virginia:

1. That § 58-629.1 of the Code of Virginia be amended and reenacted
as follows:

§ 58-629.1. A motor carrier may give a surety company bond in the
amount of * not less than two thousand dollars nor more than ten thousand
dollars, as shall appear sufficient in the discretion of the Commission,
payable to the Commonwealth and conditioned that the carrier will pay all
taxes due and to become due under this article from the date of the bond
to the date when either the carrier or the bonding company notifies the
Commission that the bond has been cancelled. The surety shall be a cor-
poration authorized to write surety bonds in Virginia. So long as the
bond remains in force the Commission may order refunds to the motor
carrier in the amounts appearing to be due on applications duly filed by
the carrier under § 58-629 without first auditing the records of the carrier.
The surety shall be liable for all omitted taxes assessed pursuant to
§ 58-1162 against the carrier, including the penalties and interest provided
in said section, even though the assessment is made after cancellation of the
bond, but only for taxes due and payable while the bond was in force and
penalties and interest on said taxes.