2.2-2810 - Premiums on such bonds. - Virginia Statutes

§ 2.2-2810. Premiums on such bonds.

The Comptroller may pay out of the state treasury the premiums on the suretybonds of all state officials who are required to be bonded, for a period ofmore than one year when a discount for advanced payment of the premiums maybe obtained under the rates, and regulations adopted by the State CorporationCommission according to law.

If any such surety bond is cancelled prior to its expiration, the portion ofthe premium to be returned shall be calculated on the basis of the regularannual rate of premiums for the duration of the bond as such refunds areprescribed by the rates, and regulations adopted by the State CorporationCommission according to law.

(Code 1950, § 2-8; 1966, c. 677, § 2.1-12; 2001, c. 844.)