State Codes and Statutes
Statutes > Virginia > Title-58-1 > Chapter-6 > 58-1-630§ 58.1-630. Bond.
The Tax Commissioner may, when in his judgment it is necessary and advisableso to do in order to secure the collection of the tax levied by this chapter,require any person subject to such tax to file with him a bond, with suchsurety as the Tax Commissioner determines is necessary to secure the paymentof any tax, penalty or interest due or which may become due from such person.In lieu of such bond, securities approved by the Tax Commissioner may bedeposited with the State Treasurer, which securities shall be kept in thecustody of the State Treasurer, and shall be sold by him, at the request ofthe Tax Commissioner, at public or private sale if it becomes necessary so todo in order to recover any tax, penalty or interest due the Commonwealthunder this chapter. Upon any such sale, the surplus, if any, above theamounts due under this chapter shall be returned to the person who depositedthe securities.
(Code 1950, § 58-441.31; 1966, c. 151; 1984, c. 675.)
