2006 Code of Virginia § 55-170 - Increase or reduction of penalty of their bonds; its effect

55-170. Increase or reduction of penalty of their bonds; its effect.

The court may, at any time, on reasonable notice to the escheator, increaseor reduce the penalty of the bond; provided that in no case shall suchpenalty be reduced to less than $1,000. If an escheator be required to give abond with increased penalty and he fail to give it within a reasonable timeto be prescribed by the court, such failure shall be deemed a neglect ofofficial duty within the meaning of 55-169. Upon bond being given under anorder increasing or reducing the penalty of a former bond, the sureties insuch former bond and their estates shall be discharged from all liability forany breach of official duty committed by such escheator after that time.

(Code 1919, 491.)

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