46.2-456 - Additional security if fund impaired by any legal process, or otherwise. - Virginia Statutes

§ 46.2-456. Additional security if fund impaired by any legal process, orotherwise.

Whenever the moneys or securities are subjected to attachment, garnishment,execution, or other legal process or are otherwise depleted or threatenedwith depletion or impairment in amount or value the depositor mustimmediately furnish additional moneys or securities, free from lien, claim,or threat of impairment, in sufficient amount or value fully to comply withthe requirements of this chapter.

The Treasurer shall notify the Commissioner promptly of any depletion,impairment, or decrease or of any legal threat of depletion, impairment, ordecrease in the value of the securities or in the moneys on deposit with himunder the provisions of this chapter.

(Code 1950, § 46-476; 1958, c. 541, § 46.1-487; 1989, c. 727.)