State Codes and Statutes
Statutes > Virginia > Title-3-2 > Chapter-47 > 3-2-4768§ 3.2-4768. Duties and powers of Commissioner with respect to bonds.
The Commissioner may accept the proceeds from any bond on which he is trusteeand deposit the proceeds in the state treasury with interest in favor of thebond claimants. The Commissioner may institute and prosecute suits foractions in the name of the Commonwealth on behalf of the claimants known andapproved by him in any appropriate court for any purpose in connection withthe collection or distribution of the bond or its proceeds. It shall be theduty of any person having a claim against a cotton handler to notify theCommissioner of his claim. The Commissioner shall have no duty to prosecuteany claim unless he has received notice and believes the claim is valid. Ifthe Commissioner believes the claim is invalid, he shall notify the claimant.The Commissioner may appeal a decision of any court that is contrary to anydistribution recommended or authorized by him.
(2000, c. 584, § 3.1-722.36; 2008, c. 860.)
