§ 54.1-4003 Bond required; private action on bond
A. No natural person shall be licensed as a pawnbroker or engage in the business of a pawnbroker without having in existence a bond with surety in the minimum amount of $50,000 to secure the payment of any judgment recovered under the provisions of subsection B.
B. Any person who recovers a judgment against a licensed pawnbroker for the pawnbroker’s misconduct may maintain an action in his own name upon the bond of the pawnbroker if the execution issued upon such judgment is wholly or partially unsatisfied.
History
The record of this law’s original creation isn’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1988, chapter 765; in 1998, chapter 848; in 2019, chapter 238.
Code 1950, § 54-845; 1988, c. 765; 1998, c. 848; 2019, c. 238.