Section 60. Required bond for escheators

Each escheator shall give bond for the judicial circuit for which he is appointed in the circuit court for the locality in which he resides. The bond in the amount of $3,000 must be obtained within 60 days of confirmation of the appointment and a copy of such bond should be provided to the Treasurer of Virginia. This bond shall remain in force as long as the escheator shall continue in office until removed or until a successor is duly appointed and qualified.

If property in another locality within the judicial circuit escheats to the Commonwealth at the inquest hearing, the escheator shall give additional bond pursuant to the requirements in § 55-169 of the Code of Virginia.

Historical Notes

Derived from VR640-04-1 § 6, eff. July 1, 1992; amended, Volume 14, Issue 25, eff. September 30, 1998.

Statutory Authority

§ 55-200.1 of the Code of Virginia.