- A. The declarant shall report the extension, cancellation, amendment, expiration, termination, or any other change of any bond or letter of credit submitted in accordance with §§ 55.1-1921, 55.1-1968, and 55.1-1983 of the Code of Virginia within five days of the change.
- B. The board at any time may request verification from the declarant of the status of a bond or letter of credit on file with the board. Such verification shall comply with the provisions of subdivision B 12 of 18VAC48-30-540.
- C. Failure to report a change in the bond or letter of credit in accordance with this section shall result in further action by the board pursuant to Chapter 19 (§ 55.1-1900 et seq.) of Title 55.1 of the Code of Virginia.
Statutory Authority
§ 54.1-2349 of the Code of Virginia.
Historical Notes
Derived from Virginia Register Volume 31, Issue 20, eff. August 1, 2015; amended, Virginia Register Volume 36, Issue 6, eff. December 31, 2019.