                                 CODE OF VIRGINIA

BOND REQUIRED; PRIVATE ACTION ON BOND (§ 54.1-4003)

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&#8217;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: Code 1950, § 54-845; 1988, c. 765; 1998, c. 848; 2019, c. 238.