State Codes and Statutes
Statutes > Virginia > Title-3-2 > Chapter-47 > 3-2-4718§ 3.2-4718. Execution and terms of bond; action thereon.
The bond shall be executed by the applicant as principal and by a suretycompany qualified and authorized to do business in the Commonwealth as suretyor by such personal surety as may be approved by the circuit court of thelocality where the applicant resides or has his principal office. The bondshall be conditioned upon compliance with the provisions of this article andupon the faithful and honest handling of farm products in accordance with theterms of this article. The bond shall be to the Commonwealth in favor ofevery consignor of farm products. Any consignor of farm products claiming tobe injured by the fraud, deceit or negligence of any commission merchant maybring action upon the bond against either the principal, or the surety, orboth in an appropriate court to recover the damages caused by such fraud,deceit or negligence, or the failure to comply with the provisions of thisarticle, or to make prompt and accurate settlement with the consignor.
(Code 1950, § 3-542; 1966, c. 702, § 3.1-700; 2008, c. 860.)
