8.01-588.1 - Bonds apportioned to funds under control; annual reports. - Virginia Statutes

§ 8.01-588.1. Bonds apportioned to funds under control; annual reports.

The general receiver shall obtain bond through the Department of theTreasury's Division of Risk Management. No later than October 1 of each year,he shall report to the Division the amount of moneys under his controlpursuant to § 8.01-582 as of June 30 of the current year and shall report theamount he expects to come under his control for the year ending on June 30 ofthe following year. He shall also report any other information reasonablyrequired by the Division concerning bond coverage of moneys under hiscontrol. The cost of the bond shall be apportioned among the funds under hiscontrol as of the billing date based on the amount of each owner's orbeneficiary's moneys. This section shall not apply to any financialinstitution fulfilling the requirements set out in § 6.1-18 or § 6.1-195.82.

(1988, c. 841; 2000, cc. 618, 632.)