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Virginia Administrative Code (Last Updated: January 10, 2017) |
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Title 3. Alcoholic Beverages |
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Agency 5. Alcoholic Beverage Control Board |
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Chapter 60. Manufacturers and Wholesalers Operations |
Section 40. Indemnifying bond required of wholesale wine licenses
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No wholesale wine license shall be issued unless there shall be on file with the board an indemnifying bond running to the Commonwealth in the penalty of $2,500, with the licensee as principal and some good and responsible surety company authorized to transact business in the Commonwealth as surety, conditioned upon the faithful compliance with requirements of Title 4.1 of the Code of Virginia and the regulations of the board.
A wholesale wine licensee may request in writing a waiver of the surety and the bond by the board. If the waiver is granted, the board may withdraw such waiver of surety and bond at any time for good cause.
Historical Notes
Derived from VR125-01-6 § 4, eff. December 12, 1985; amended, Volume 03, Issue 01, eff. November 12, 1986; Volume 04, Issue 06, January 21, 1988; Volume 05, Issue 02, eff. November 24, 1988; Volume 07, Issue 04, eff. December 19, 1990; Volume 08, Issue 06, eff. January 15, 1992; Volume 10, Issue 11, eff. March 23, 1994; Volume 23, Issue 13, eff. May 19, 2007.