Virginia has enacted a new law named SB 505 for public officials. The new law modifies the town charter for Bowling Green. The new modification authorizes the town council to accept a surety bond from an elected or appointed officer; the council will approve and establish the bond amount. The bond is conditioned on the dependable performance of the office that the bond was posted for. SB 505 became effective immediately after enactment under emergency declarations.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.