Section 800.12. Form of the performance bond

The division shall prescribe the form of the performance bond and may allow:

(a) A surety bond;

(b) A collateral bond;

(c) An escrow account; or

(d) A combined surety/escrow account;

(e) A combination of any of the bonding methods listed in (a) through (d); or

(f) A self bond in accordance with 4VAC25-130-801.13.

Historical Notes

Derived from VR480-03-19 § 800.12, eff. December 15, 1981; amended, eff. June 28, 1982; October 28, 1982; December 14, 1982; October 11, 1983; December 27, 1983; May 8, 1984; June 22, 1984; August 2, 1984; October 16, 1985; January 7, 1987; July 22, 1987; November 25, 1987; October 12, 1988; December 26, 1990; July 1, 1991; July 17, 1991; November 20, 1991; July 7, 1992; May 5, 1993; October 19, 1994.

Statutory Authority

§§ 45.1-161.3 and 45.1-230 of the Code of Virginia.