{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.01-588.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.01-588.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.01-588.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.01-588.1.html"}],"law_id":75269,"edition_id":1,"section_id":75269,"structure_id":16117,"section_number":"8.01-588.1","catch_line":"Bonds apportioned to funds under control; annual reports","history":"1988, c. 841; 2000, cc. 618, 632.","full_text":"The general receiver shall obtain bond through the Department of the Treasury’s Division of Risk Management. No later than October 1 of each year, he shall report to the Division the amount of moneys under his control pursuant to \u00a7 8.01-582 as of June 30 of the current year and shall report the amount he expects to come under his control for the year ending on June 30 of the following year. He shall also report any other information reasonably required by the Division concerning bond coverage of moneys under his control. The cost of the bond shall be apportioned among the funds under his control as of the billing date based on the amount of each owner’s or beneficiary’s moneys. This section shall not apply to any financial institution fulfilling the requirements set out in \u00a7 6.2-1003 or \u00a7 6.2-1085.","order_by":null,"text":{"0":{"id":270278,"text":"The general receiver shall obtain bond through the Department of the Treasury’s Division of Risk Management. No later than October 1 of each year, he shall report to the Division the amount of moneys under his control pursuant to \u00a7 8.01-582 as of June 30 of the current year and shall report the amount he expects to come under his control for the year ending on June 30 of the following year. He shall also report any other information reasonably required by the Division concerning bond coverage of moneys under his control. The cost of the bond shall be apportioned among the funds under his control as of the billing date based on the amount of each owner’s or beneficiary’s moneys. This section shall not apply to any financial institution fulfilling the requirements set out in \u00a7 6.2-1003 or \u00a7 6.2-1085.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":16117,"edition_id":1,"name":"General Receivers","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":14702,"metadata":{},"date_created":"2026-06-26 04:06:26","date_modified":"2026-06-26 04:06:26","permalink":{"id":279053,"object_type":"structure","relational_id":16117,"identifier":"1","token":"8.01\/22\/1","url":"\/8.01\/22\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14702,"edition_id":1,"name":"Receivers, General and Special","identifier":"22","label":"chapter","depth":2,"order_by":1,"parent_id":12747,"metadata":{},"date_created":"2026-06-26 03:49:25","date_modified":"2026-06-26 03:49:25","permalink":{"id":279051,"object_type":"structure","relational_id":14702,"identifier":"22","token":"8.01\/22","url":"\/8.01\/22\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12747,"edition_id":1,"name":"Civil Remedies and Procedure","identifier":"8.01","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":277029,"object_type":"structure","relational_id":12747,"identifier":"8.01","token":"8.01","url":"\/8.01\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":63701,"structure_id":16117,"section_number":"8.01-582","catch_line":"Appointment of general receivers; their duties; audit of funds","url":"\/8.01-582\/","token":"8.01\/22\/1\/8.01-582","metadata":false},{"id":73240,"structure_id":16117,"section_number":"8.01-583","catch_line":"How securities taken and kept; power of receivers over same","url":"\/8.01-583\/","token":"8.01\/22\/1\/8.01-583","metadata":false},{"id":77860,"structure_id":16117,"section_number":"8.01-584","catch_line":"How dividends and interest collected and invested","url":"\/8.01-584\/","token":"8.01\/22\/1\/8.01-584","metadata":false},{"id":76376,"structure_id":16117,"section_number":"8.01-585","catch_line":"How accounts kept by receivers","url":"\/8.01-585\/","token":"8.01\/22\/1\/8.01-585","metadata":false},{"id":75298,"structure_id":16117,"section_number":"8.01-586","catch_line":"Inquiry as to unknown owners of funds","url":"\/8.01-586\/","token":"8.01\/22\/1\/8.01-586","metadata":false},{"id":69775,"structure_id":16117,"section_number":"8.01-587","catch_line":"Liability of general receivers","url":"\/8.01-587\/","token":"8.01\/22\/1\/8.01-587","metadata":false},{"id":72633,"structure_id":16117,"section_number":"8.01-588","catch_line":"Bonds generally","url":"\/8.01-588\/","token":"8.01\/22\/1\/8.01-588","metadata":false},{"id":75269,"structure_id":16117,"section_number":"8.01-588.1","catch_line":"Bonds apportioned to funds under control; annual reports","url":"\/8.01-588.1\/","token":"8.01\/22\/1\/8.01-588.1","metadata":false},{"id":80014,"structure_id":16117,"section_number":"8.01-589","catch_line":"Compensation and fees; when none allowed","url":"\/8.01-589\/","token":"8.01\/22\/1\/8.01-589","metadata":false},{"id":73365,"structure_id":16117,"section_number":"8.01-590","catch_line":"Penalty for failure of duty","url":"\/8.01-590\/","token":"8.01\/22\/1\/8.01-590","metadata":false}],"previous_section":{"id":72633,"structure_id":16117,"section_number":"8.01-588","catch_line":"Bonds generally","url":"\/8.01-588\/","token":"8.01\/22\/1\/8.01-588","metadata":false},"next_section":{"id":80014,"structure_id":16117,"section_number":"8.01-589","catch_line":"Compensation and fees; when none allowed","url":"\/8.01-589\/","token":"8.01\/22\/1\/8.01-589","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.01-588.1\/","history_text":"

This law was first created in 1988. The record of its establishment is cataloged in chapter 841 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1988 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2000, chapters 618<\/a> and 632<\/a>.<\/p>","references":false,"refers_to":[{"id":75287,"section_number":"6.2-1003","catch_line":"When security not required; payment of probate taxes and fees","order_by":null,"url":"\/6.2-1003\/"},{"id":79631,"section_number":"6.2-1085","catch_line":"When security not required","order_by":null,"url":"\/6.2-1085\/"},{"id":63701,"section_number":"8.01-582","catch_line":"Appointment of general receivers; their duties; audit of funds","order_by":null,"url":"\/8.01-582\/"}],"permalink":{"id":279083,"object_type":"law","relational_id":75269,"identifier":"8.01-588.1","token":"8.01\/22\/1\/8.01-588.1","url":"\/8.01-588.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.01-588.1\/","token":"8.01\/22\/1\/8.01-588.1","dublin_core":{"Title":"Bonds apportioned to funds under control; annual reports","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.01-588.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The general receiver shall obtain bond<\/span> through the Department of the Treasury’s Division of Risk Management. No later than October 1 of each year, he shall report to the Division the amount of moneys under his control pursuant to \u00a7 8.01-582<\/a> as of June 30 of the current year and shall report the amount he expects to come under his control for the year ending on June 30 of the following year. He shall also report any other information reasonably required by the Division concerning bond<\/span> coverage of moneys under his control. The cost of the bond<\/span> shall be apportioned among the funds under his control as of the billing date based on the amount of each owner’s or beneficiary’s moneys. This section shall not apply to any financial institution fulfilling the requirements set out in \u00a7 6.2-1003<\/a> or \u00a7 6.2-1085<\/a>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nBONDS APPORTIONED TO FUNDS UNDER CONTROL; ANNUAL REPORTS (\u00a7 8.01-588.1)\n\nThe general receiver shall obtain bond through the Department of the\nTreasury’s Division of Risk Management. No later than October 1 of each\nyear, he shall report to the Division the amount of moneys under his control\npursuant to \u00a7 8.01-582 as of June 30 of the current year and shall report the\namount he expects to come under his control for the year ending on June 30 of\nthe following year. He shall also report any other information reasonably\nrequired by the Division concerning bond coverage of moneys under his control.\nThe cost of the bond shall be apportioned among the funds under his control as\nof the billing date based on the amount of each owner’s or\nbeneficiary’s moneys. This section shall not apply to any financial\ninstitution fulfilling the requirements set out in \u00a7 6.2-1003 or \u00a7 6.2-1085.\n\nHISTORY: 1988, c. 841; 2000, cc. 618, 632.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}