2006 Code of Virginia § 55-169 - Their bond; their removal

55-169. Their bond; their removal.

Each escheator shall give bond for the judicial circuit for which he isappointed in the circuit court for the locality in which he resides, in thepenalty of $3,000, and may continue in office until removed or until asuccessor is duly appointed and qualified. If property in another localitywithin the appointed judicial circuit escheats to the Commonwealth at theinquest hearing, the escheator shall give bond within that locality asdetermined by the clerk of the circuit court in the locality and in a penaltyof a percentage of the assessed value of the property according to therecords of the commissioner of the revenue. The bond must be obtained withinten days following the inquest hearing.

(Code 1919, 490; 1977, c. 583; 1982, c. 437; 1998, c. 215.)