Code of Virginia

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Code of Virginia
Title 54.1. Professions and Occupations
Chapter 40. Pawnbrokers
10/28/2020

§ 54.1-4003. Bond required; private action on bond.

A. No natural person shall be licensed as a pawnbroker or engage in the business of a pawnbroker without having in existence a bond with surety in the minimum amount of $50,000 to secure the payment of any judgment recovered under the provisions of subsection B.

B. Any person who recovers a judgment against a licensed pawnbroker for the pawnbroker's misconduct may maintain an action in his own name upon the bond of the pawnbroker if the execution issued upon such judgment is wholly or partially unsatisfied.

Code 1950, § 54-845; 1988, c. 765; 1998, c. 848; 2019, c. 238.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.