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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>75269</law_id><section_number>8.01-588.1</section_number><catch_line>Bonds apportioned to funds under control; annual reports</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="8.01">Civil Remedies and Procedure</unit><unit label="chapter" level="2" order_by="1" identifier="22">Receivers, General and Special</unit><unit label="article" level="3" order_by="1" identifier="1">General Receivers</unit></structure><text>
						<section><p>The general receiver shall obtain <span class="dictionary">bond</span> through the Department of the Treasury&#x2019;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 &#xA7;&#xA0;<a class="law" title="Appointment of general receivers; their duties; audit of funds" href="/8.01-582/">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 <span class="dictionary">bond</span> coverage of moneys under his control. The cost of the <span class="dictionary">bond</span> shall be apportioned among the funds under his control as of the billing date based on the amount of each owner&#x2019;s or beneficiary&#x2019;s moneys. This section shall not apply to any financial institution fulfilling the requirements set out in &#xA7;&#xA0;<a class="law" title="When security not required; payment of probate taxes and fees" href="/6.2-1003/">6.2-1003</a> or &#xA7;&#xA0;<a class="law" title="When security not required" href="/6.2-1085/">6.2-1085</a>.</p></section></text><history>1988, c. 841; 2000, cc. 618, 632.</history><metadata></metadata></law>
