                                 CODE OF VIRGINIA

SURETY ON BOND GIVEN UNDER DECREE OF COURT FOR PAYMENT OF MONEY (§ 49-23)

A surety, or his committee, or personal representative, in a bond, other than
the bond of a commissioner or receiver, given under a decree or order of a court
for the payment of money, if no suit be pending for the recovery thereof, may
file his petition in the court which rendered or made the decree or order, or to
which the case has been removed, for a bond of indemnity. The petition shall
state that the petitioner has reason to believe that he, or the estate he
represents, is likely to suffer pecuniary loss in consequence of such suretyship
and the grounds of such belief and shall be verified by affidavit. Upon the
filing of the petition and proof of reasonable notice to the principal in the
bond and all the parties in interest, the court may require such indemnifying
bond, with satisfactory sureties, to be given within a time to be prescribed. If
such bond be given, it shall be with condition and shall bind the obligors
therein to indemnify the sureties in the former bond against all loss or damage
in consequence of such former bond. If such bond be not given, the court, on the
request of such surety, personal representative or committee, if the money be
due and payable, or whenever the same becomes due and payable, shall order suit
to be brought for its recovery and prosecuted to judgment and by execution.

HISTORY: Code 1919, § 5776.