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Current as of January 01, 2025 | Updated by Findlaw Staff
The court may, at any time, with reasonable notice to the escheator, increase or reduce the penalty of the bond, provided that in no case shall such penalty be reduced to less than $1,000. Upon bond being given under an order increasing or reducing the penalty of a former bond, the sureties in such former bond and their estates shall be discharged from all liability for any breach of official duty committed by such escheator after that time.
Cite this article: FindLaw.com - Virginia Code Title 55.1. Property and Conveyances § 55.1-2403. Increase or reduction of penalty of escheator's bond; effect - last updated January 01, 2025 | https://codes.findlaw.com/va/title-55-1-property-and-conveyances/va-code-sect-55-1-2403/
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