19.2-39 - Bond. - Virginia Statutes

§ 19.2-39. Bond.

Every magistrate appointed under the provisions of this chapter shall enterinto bond in the sum of $5,000, made payable to the Commonwealth, before aclerk of a circuit court, for the faithful performance of his duties. Thepremium for such bond shall be paid by the Commonwealth. Provided, however,that in lieu of specific bonds, the Committee on District Courts may in itsdiscretion procure faithful performance of duty blanket bonds for allmagistrates and for the penalty contained in this section, unless in thediscretion of the Committee, bonds with a larger penalty should be obtained.Such blanket bonds shall be made payable to the Commonwealth and shall coverall funds handled by a magistrate whether such funds belong to theCommonwealth or any political subdivision thereof. Provided further, that inthose instances where specific bonds for magistrates are in effect, theCommittee on District Courts may, whenever it deems it advisable, terminatesuch specific bonds upon obtaining a blanket bond covering such magistrateswith appropriate refunds or credit being made for the unearned premiums onthe specific bonds terminated. A copy of any such blanket bond so procuredshall be filed with the State Comptroller and with the clerk of therespective circuit courts. The premiums for such blanket bonds shall be paidby the Commonwealth.

(Code 1950, § 19.1-387; 1973, c. 545; 1974, c. 484; 1975, c. 495; 2008, cc.551, 691.)