Virginia § 8.01-588.1 - Bonds apportioned to funds under control; annual reports
Full text of Virginia Code of Virginia § 8.01-588.1 — Bonds apportioned to funds under control; annual reports, with citation guidance and answers to common questions.
§ 8.01-588.1. Bonds apportioned to funds under control; annual reports
The general receiver shall obtain bond through the Department of the Treasury's Division of Risk Management. No later than October 1 of each year, he shall report to the Division the amount of moneys under his control pursuant to § 8.01-582 as of June 30 of the current year and shall report the amount he expects to come under his control for the year ending on June 30 of the following year. He shall also report any other information reasonably required by the Division concerning bond coverage of moneys under his control. The cost of the bond shall be apportioned among the funds under his control as of the billing date based on the amount of each owner's or beneficiary's moneys. This section shall not apply to any financial institution fulfilling the requirements set out in § 6.2-1003 or § 6.2-1085.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 8.01-588.1
What does Code of Virginia § 8.01-588.1 cover?
Section 8.01-588.1 ("Bonds apportioned to funds under control; annual reports") 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 § 8.01-588.1?
A common citation format is "Code of Virginia § 8.01-588.1" (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 § 8.01-588.1 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.