Virginia § 3.2-4757 - Duties and powers of Commissioner with respect to bonds
Full text of Virginia Code of Virginia § 3.2-4757 — Duties and powers of Commissioner with respect to bonds, with citation guidance and answers to common questions.
§ 3.2-4757. Duties and powers of Commissioner with respect to bonds
The Commissioner may accept the proceeds from any bond on which he is trustee or any letter of credit on which he is beneficiary, and deposit the proceeds in the state treasury at interest in favor of the claimants. The Commissioner may institute and prosecute suits or action in the name of the Commonwealth on behalf of claimants known and approved by him in any appropriate court for any purpose in connection with the collection or distribution of the proceeds. It shall be the duty of any person having a claim against a grain dealer to notify the Commissioner of his claim. The Commissioner shall have no duty to prosecute any claim unless he has received such notice and believes the claim is valid. If the Commissioner believes the claim to be invalid, he shall notify the claimant. The claimant shall then have his remedy pursuant to § 3.2-4756. The Commissioner may appeal a decision of any court that is contrary to any distribution recommended or authorized by him.
1982, c. 187, § 3.1-722.20:1; 1985, c. 354; 2008, c. 860.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 3.2-4757
What does Code of Virginia § 3.2-4757 cover?
Section 3.2-4757 ("Duties and powers of Commissioner with respect to bonds") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 3.2-4757?
A common citation format is "Code of Virginia § 3.2-4757" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 3.2-4757 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.