58.1-2413 - Waiver of requirement for surety bond or other security; release. - Virginia Statutes

§ 58.1-2413. Waiver of requirement for surety bond or other security; release.

The Commissioner may, upon request from the rentor, waive the requirement fordepositing surety bonds or other security after timely filing of returns andpayment of tax on rental vehicles as required by this chapter for a period oftwo fiscal years. The fiscal year shall be July 1 to June 30.

Upon approval of the waiver, the Commissioner shall notify the rentor inwriting and release the surety on such bond deposited or return any othersecurity that was deposited in lieu of a bond.

(Code 1950, § 58-685.17:7; 1982, c. 141; 1984, c. 675.)