3.2-4717 - Agreements with U.S. Department of Agriculture; powers and duties of Commissioner as to bonds filed with U.S. Department of Agriculture. - Virginia Statutes

§ 3.2-4717. Agreements with U.S. Department of Agriculture; powers and dutiesof Commissioner as to bonds filed with U.S. Department of Agriculture.

The Commissioner may enter into agreements with the U.S. Department ofAgriculture as are necessary to effectuate the purposes of the Packers andStockyards Act of 1921 (42 Stat. 159), as amended. The Commissioner may actas trustee of the bonds or other security filed with the U.S. Department ofAgriculture, and in such capacity the Commissioner may: (i) settle, allow orreject claims arising against the bonds or other security; (ii) rely on theinvestigative reports and recommendations of the U.S. Department ofAgriculture; and (iii) use the administrative powers and processes of thisarticle to settle claims. The Commissioner may institute and prosecute suitsor actions in the name of the Commonwealth on behalf of claimants known andapproved by the Commissioner in any appropriate court. The Commissioner mayappeal a decision of any court that is contrary to any distributionrecommended or authorized by him.

(1976, c. 44, § 3.1-699.1; 1985, c. 354; 2008, c. 860.)