Section 50. Surety bond amount

Latest version.

The surety bond amount required to be filed and maintained by or on behalf of the licensee shall be set and adjusted as necessary annually by the bureau in accordance with the following scale based upon residential mortgage loans originated during the preceding calendar year:

LOANS	BOND AMOUNT
$0 - $5,000,000	$25,000
$5,000,001 - $20,000,000	$50,000
$20,000,001 - $50,000,000	$75,000
$50,000,001 - $100,000,000	$100,000
over $100,000,000	$150,000

Historical Notes

Derived from Volume 25, Issue 25, eff. August 17, 2009.

Statutory Authority

§ 6.2-1720 of the Code of Virginia.

                    
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