3 Va. Admin. Code § 5-60-40

Current through Register Vol. 40, No. 22, June 17, 2024

Section 3VAC5-60-40 - Indemnifying bond required of wholesale wine licenses

No wholesale wine license shall be issued unless there shall be on file with the board an indemnifying bond running to the Commonwealth in the penalty of $2,500, with the licensee as principal and some good and responsible surety company authorized to transact business in the Commonwealth as surety, conditioned upon the faithful compliance with requirements of Title 4.1 of the Code of Virginia and the regulations of the board.

A wholesale wine licensee may request in writing a waiver of the surety and the bond by the board. If the waiver is granted, the board may withdraw such waiver of surety and bond at any time for good cause.

3 Va. Admin. Code § 5-60-40

Derived from VR125-01-6 § 4, eff. December 12, 1985; amended, Virginia Register Volume 3, Issue 1, eff. November 12, 1986; Volume 4, Issue 6, January 21, 1988; Volume 5, Issue 2, eff. November 24, 1988; Volume 7, Issue 4, eff. December 19, 1990; Volume 8, Issue 6, eff. January 15, 1992; Volume 10, Issue 11, eff. March 23, 1994; Volume 23, Issue 13, eff. May 19, 2007.

Statutory Authority

§§ 4.1-103 and 4.1-111 of the Code of Virginia.