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Current as of January 01, 2025 | Updated by Findlaw Staff
If any bond is mutilated, destroyed or lost, the governing body of the locality obligated to pay the bond may cause a new bond of like date, number and tenor to be executed and delivered in exchange and substitution for and upon the cancellation of the mutilated bond, or in lieu of and in substitution for the bond destroyed or lost, upon the owner paying the reasonable expense and charges in connection therewith. In the case of a bond destroyed or lost, its owner may be required to file with the person having custody of the funds from which the bond is to be paid evidence satisfactory to that person that the bond was destroyed or lost, and evidence of the ownership of the bond and may be required to furnish indemnity satisfactory to that person.
Cite this article: FindLaw.com - Virginia Code Title 15.2. Counties, Cities and Towns § 15.2-2621. Bonds mutilated, lost or destroyed - last updated January 01, 2025 | https://codes.findlaw.com/va/title-15-2-counties-cities-and-towns/va-code-sect-15-2-2621/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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