Section 310. Amount of the bond

Latest version.

The amount of bond shall be determined upon investigation by the commissioner or is to be approximately three times the anticipated average monthly rental taxes and fees due by the rentor in the next succeeding three month period. In no case can the bond be less than $500 or more than $20,000.

Historical Notes

Derived from VR485-60-8701 § 6.2, eff. January 1, 1987; amended, Volume 20, Issue 21, eff. July 1, 2004.

Statutory Authority

§ 58.1-2421 of the Code of Virginia.

                    
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