                                 CODE OF VIRGINIA

BOND OF APPLICANTS (§ 46.2-1701.1)

The applicant shall file a surety bond in the amount of $100,000 for a Class A
licensee and $5,000 for a Class B licensee. The bond shall be payable to the
Commonwealth of Virginia and conditioned to protect the contractual rights of
students. The bonding requirement for a Class A license may be reduced, at the
discretion of the Department, on a showing by the school that no course of study
for which tuition is collected lasts longer than thirty days or that the school
collects no advance tuition other than equal monthly installments based on the
length of the course of study. The minimum bond for any school shall be $5,000.
The Department may collect against this bond in the case that the driver
training school violates applicable state or federal law or regulation.

HISTORY: 1991, c. 214; 2019, c. 750.