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1998 SESSION
988814809Be it enacted by the General Assembly of Virginia:
1. That § 55-169 of the Code of Virginia is amended and reenacted as follows:
§ 55-169. Their bond; their removal.
Each escheator shall give bond before the circuit court of the
county or the city for the judicial circuit for which he is
appointed in the circuit
court for the locality in which he
resides, in the penalty of $3,000, and may continue in office until
removed or until a successor is duly appointed and qualified. If property
in another locality within the appointed judicial circuit escheats to the
Commonwealth at the inquest hearing, the escheator
shall give bond within that locality as
determined by the clerk of the
circuit court in the
locality and in a penalty of a
percentage of the assessed value of the property
according to the records of the commissioner of the
revenue. The bond must be obtained within ten
days following the inquest hearing.