Section 55.1-803 - Errors and omissions insurance; cash or letters of creditA. An exchange facilitator at all times shall:1. Maintain a policy of errors and omissions insurance in an amount not less than $250,000 executed by an insurer authorized to do business in the Commonwealth; or2. Deposit an amount of cash or provide irrevocable letters of credit equivalent to the sum of not less than $250,000.B. The exchange facilitator may maintain errors and omissions insurance, cash, or irrevocable letters of credit in excess of the amounts required in this section. 2010, c. 409, § 55-525.4; 2019, c. 712.Added by Acts 2019 c. 712, § 1, eff. 10/1/2019.