54.1-305 - Bond of Director.
§ 54.1-305. Bond of Director.
Before entering upon the discharge of his duties, the Director shall givebond payable to the Commonwealth of Virginia conditioned upon the faithfuldischarge of his duties in a form approved by the Attorney General, in suchpenalty as shall be fixed by the Governor, with a surety or guaranty companyauthorized to do business in this Commonwealth. The premium required for thebond shall be paid out of the administrative fund appropriated to theDepartment, and the bond shall be filed with and preserved by the Comptroller.
(1979, c. 408, § 54-1.34; 1988, c. 765.)