{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/38.2-2406.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/38.2-2406.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/38.2-2406.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/38.2-2406.html"}],"law_id":361856,"edition_id":2,"section_id":361856,"structure_id":51715,"section_number":"38.2-2406","catch_line":"Requirements deemed met by insurer","history":"1952, c. 317, \u00a7 38.1-644; 1986, c. 562.","full_text":"Whenever a bond, undertaking, recognizance, guaranty, or similar obligation is required, permitted, authorized or allowed by any law of this Commonwealth, or whenever the performance of any act, duty or obligation, or the refraining from any act, is required, permitted, authorized or allowed to be secured or guaranteed by any law of this Commonwealth, the bond or similar obligation, or the security or guaranty, may be executed by any fidelity and surety insurer licensed to execute such instruments. The execution by any fidelity and surety insurer of a bond, undertaking, recognizance, guaranty or similar obligation by its officer, attorney-in-fact, or other authorized representative shall be accepted as fully complying with every law or other requirement, now or hereafter in force, requiring that the bond, undertaking, recognizance, guaranty or similar obligation be given or accepted or that it be executed by one or more sureties, or that the surety or sureties be residents, householders or freeholders, or possess any other qualifications.\n\n","order_by":null,"text":{"0":{"id":1347243,"text":"Whenever a bond, undertaking, recognizance, guaranty, or similar obligation is required, permitted, authorized or allowed by any law of this Commonwealth, or whenever the performance of any act, duty or obligation, or the refraining from any act, is required, permitted, authorized or allowed to be secured or guaranteed by any law of this Commonwealth, the bond or similar obligation, or the security or guaranty, may be executed by any fidelity and surety insurer licensed to execute such instruments. The execution by any fidelity and surety insurer of a bond, undertaking, recognizance, guaranty or similar obligation by its officer, attorney-in-fact, or other authorized representative shall be accepted as fully complying with every law or other requirement, now or hereafter in force, requiring that the bond, undertaking, recognizance, guaranty or similar obligation be given or accepted or that it be executed by one or more sureties, or that the surety or sureties be residents, householders or freeholders, or possess any other qualifications.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":51715,"edition_id":2,"name":"General Provisions","identifier":"1","label":"article","depth":3,"order_by":1,"parent_id":51714,"metadata":{"child_laws":17,"child_structures":0},"date_created":"2026-08-02 02:47:09","date_modified":"2026-08-02 12:33:07","permalink":{"id":1440721,"object_type":"structure","relational_id":51715,"identifier":"1","token":"38.2\/24\/1","url":"\/38.2\/24\/1\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51714,"edition_id":2,"name":"Fidelity and Surety Insurance","identifier":"24","label":"chapter","depth":2,"order_by":24,"parent_id":51644,"metadata":{"child_laws":22,"child_structures":2},"date_created":"2026-08-02 02:47:09","date_modified":"2026-08-02 12:33:07","permalink":{"id":1440719,"object_type":"structure","relational_id":51714,"identifier":"24","token":"38.2\/24","url":"\/38.2\/24\/","edition_id":2,"permalink":0,"preferred":1}},{"id":51644,"edition_id":2,"name":"Insurance","identifier":"38.2","label":"title","depth":1,"order_by":88,"parent_id":null,"metadata":{"child_laws":1890,"child_structures":173},"date_created":"2026-08-02 02:45:30","date_modified":"2026-08-02 12:32:55","permalink":{"id":1437663,"object_type":"structure","relational_id":51644,"identifier":"38.2","token":"38.2","url":"\/38.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":361850,"structure_id":51715,"section_number":"38.2-2400","catch_line":"Class of insurance to which chapter applies","url":"\/38.2-2400\/","token":"38.2\/24\/1\/38.2-2400","metadata":{"court_decisions":""}},{"id":361851,"structure_id":51715,"section_number":"38.2-2401","catch_line":"Fidelity and surety insurer defined","url":"\/38.2-2401\/","token":"38.2\/24\/1\/38.2-2401","metadata":{"court_decisions":""}},{"id":361852,"structure_id":51715,"section_number":"38.2-2402","catch_line":"Fidelity and surety insurer not to transact insurance without appropriate license","url":"\/38.2-2402\/","token":"38.2\/24\/1\/38.2-2402","metadata":{"court_decisions":""}},{"id":361853,"structure_id":51715,"section_number":"38.2-2403","catch_line":"Limitation of liability on risks","url":"\/38.2-2403\/","token":"38.2\/24\/1\/38.2-2403","metadata":{"court_decisions":""}},{"id":361854,"structure_id":51715,"section_number":"38.2-2404","catch_line":"Limit when penalty of bond exceeds actual exposure to risk","url":"\/38.2-2404\/","token":"38.2\/24\/1\/38.2-2404","metadata":false},{"id":361855,"structure_id":51715,"section_number":"38.2-2405","catch_line":"When insurer accepted as surety","url":"\/38.2-2405\/","token":"38.2\/24\/1\/38.2-2405","metadata":{"court_decisions":{"0":{"name":"REVI, LLC v. Chicago Title Insurance Co.","case_number":"Record 141562.","citation":"776 S.E.2d 808","date":"2015-09-17","url":"https:\/\/www.courtlistener.com\/opinion\/2959680\/revi-llc-v-chicago-title-insurance-co\/","abstract":" .\u202f.\u202f. Justice KELSEY, dissenting. .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},{"id":361856,"structure_id":51715,"section_number":"38.2-2406","catch_line":"Requirements deemed met by insurer","url":"\/38.2-2406\/","token":"38.2\/24\/1\/38.2-2406","metadata":{"court_decisions":{"0":{"name":"Whitlinger v. Continental Casualty Co.","case_number":"Civ.A. 2:00CV579","citation":"129 F. Supp. 2d 924","date":"2001-01-22","url":"https:\/\/www.courtlistener.com\/opinion\/2471561\/whitlinger-v-continental-casualty-co\/","abstract":" .\u202f.\u202f. 129 F.Supp.2d 924 (2001) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"}}}},{"id":361857,"structure_id":51715,"section_number":"38.2-2407","catch_line":"Repealed","url":"\/38.2-2407\/","token":"38.2\/24\/1\/38.2-2407","metadata":{"court_decisions":""}},{"id":361858,"structure_id":51715,"section_number":"38.2-2409","catch_line":"Agreement for joint control of money and assets","url":"\/38.2-2409\/","token":"38.2\/24\/1\/38.2-2409","metadata":{"court_decisions":{"0":{"name":"REVI, LLC v. Chicago Title Insurance Co.","case_number":"Record 141562.","citation":"776 S.E.2d 808","date":"2015-09-17","url":"https:\/\/www.courtlistener.com\/opinion\/2959680\/revi-llc-v-chicago-title-insurance-co\/","abstract":" .\u202f.\u202f. Justice KELSEY, dissenting. .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},{"id":361859,"structure_id":51715,"section_number":"38.2-2410","catch_line":"Expense of securing bond to be allowed in settlements; exceptions","url":"\/38.2-2410\/","token":"38.2\/24\/1\/38.2-2410","metadata":{"court_decisions":{"0":{"name":"REVI, LLC v. Chicago Title Insurance Co.","case_number":"Record 141562.","citation":"776 S.E.2d 808","date":"2015-09-17","url":"https:\/\/www.courtlistener.com\/opinion\/2959680\/revi-llc-v-chicago-title-insurance-co\/","abstract":" .\u202f.\u202f. Justice KELSEY, dissenting. .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},{"id":361860,"structure_id":51715,"section_number":"38.2-2411","catch_line":"Repealed","url":"\/38.2-2411\/","token":"38.2\/24\/1\/38.2-2411","metadata":{"court_decisions":""}},{"id":361863,"structure_id":51715,"section_number":"38.2-2412","catch_line":"Notice to clerks of revocation of licenses","url":"\/38.2-2412\/","token":"38.2\/24\/1\/38.2-2412","metadata":false},{"id":361861,"structure_id":51715,"section_number":"38.2-2412.1","catch_line":"Notice to Department of Criminal Justice Services of revocation of property and casualty insurance license","url":"\/38.2-2412.1\/","token":"38.2\/24\/1\/38.2-2412.1","metadata":{"court_decisions":""}},{"id":361862,"structure_id":51715,"section_number":"38.2-2412.2","catch_line":"Surety bail bondsman; notice to Department of Criminal Justice Services of violations","url":"\/38.2-2412.2\/","token":"38.2\/24\/1\/38.2-2412.2","metadata":false},{"id":361864,"structure_id":51715,"section_number":"38.2-2413","catch_line":"Release of insurers from liability; rights and remedies","url":"\/38.2-2413\/","token":"38.2\/24\/1\/38.2-2413","metadata":{"court_decisions":""}},{"id":361865,"structure_id":51715,"section_number":"38.2-2414","catch_line":"Insurer estopped to deny power to assume liability","url":"\/38.2-2414\/","token":"38.2\/24\/1\/38.2-2414","metadata":false},{"id":361866,"structure_id":51715,"section_number":"38.2-2415","catch_line":"Where civil proceedings may be instituted","url":"\/38.2-2415\/","token":"38.2\/24\/1\/38.2-2415","metadata":false}],"previous_section":{"id":361855,"structure_id":51715,"section_number":"38.2-2405","catch_line":"When insurer accepted as surety","url":"\/38.2-2405\/","token":"38.2\/24\/1\/38.2-2405","metadata":{"court_decisions":{"0":{"name":"REVI, LLC v. Chicago Title Insurance Co.","case_number":"Record 141562.","citation":"776 S.E.2d 808","date":"2015-09-17","url":"https:\/\/www.courtlistener.com\/opinion\/2959680\/revi-llc-v-chicago-title-insurance-co\/","abstract":" .\u202f.\u202f. Justice KELSEY, dissenting. .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},"next_section":{"id":361857,"structure_id":51715,"section_number":"38.2-2407","catch_line":"Repealed","url":"\/38.2-2407\/","token":"38.2\/24\/1\/38.2-2407","metadata":{"court_decisions":""}},"metadata":{"court_decisions":{"0":{"name":"Whitlinger v. Continental Casualty Co.","case_number":"Civ.A. 2:00CV579","citation":"129 F. Supp. 2d 924","date":"2001-01-22","url":"https:\/\/www.courtlistener.com\/opinion\/2471561\/whitlinger-v-continental-casualty-co\/","abstract":" .\u202f.\u202f. 129 F.Supp.2d 924 (2001) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"}}},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-2406\/","history_text":"<p>This law was first created in 1952. The record of its establishment is cataloged in chapter 317 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1952 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1986, chapter 562.<\/p>","references":false,"refers_to":false,"permalink":{"id":1440747,"object_type":"law","relational_id":361856,"identifier":"38.2-2406","token":"38.2\/24\/1\/38.2-2406","url":"\/38.2-2406\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/38.2-2406\/","token":"38.2\/24\/1\/38.2-2406","dublin_core":{"Title":"Requirements deemed met by insurer","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2406","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Whenever a <span class=\"dictionary\">bond<\/span>, undertaking, <span class=\"dictionary\">recognizance<\/span>, guaranty, or similar obligation is required, permitted, authorized or allowed by any <span class=\"dictionary\">law<\/span> of this Commonwealth, or whenever the performance of any act, duty or obligation, or the refraining from any act, is required, permitted, authorized or allowed to be secured or guaranteed by any <span class=\"dictionary\">law<\/span> of this Commonwealth, the <span class=\"dictionary\">bond<\/span> or similar obligation, or the security or guaranty, may be executed by any fidelity and <span class=\"dictionary\">surety<\/span> <span class=\"dictionary\">insurer<\/span> licensed to execute such instruments. The execution by any fidelity and <span class=\"dictionary\">surety<\/span> <span class=\"dictionary\">insurer<\/span> of a <span class=\"dictionary\">bond<\/span>, undertaking, <span class=\"dictionary\">recognizance<\/span>, guaranty or similar obligation by its officer, <span class=\"dictionary\">attorney-in-<span class=\"dictionary\">fact<\/span><\/span>, or other authorized representative shall be accepted as fully complying with every <span class=\"dictionary\">law<\/span> or other requirement, now or hereafter in force, requiring that the <span class=\"dictionary\">bond<\/span>, undertaking, <span class=\"dictionary\">recognizance<\/span>, guaranty or similar obligation be given or accepted or that it be executed by one or more sureties, or that the <span class=\"dictionary\">surety<\/span> or sureties be residents, householders or <span class=\"dictionary\">freeholders<\/span>, or possess any other qualifications.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nREQUIREMENTS DEEMED MET BY INSURER (\u00a7 38.2-2406)\n\nWhenever a bond, undertaking, recognizance, guaranty, or similar obligation is\nrequired, permitted, authorized or allowed by any law of this Commonwealth, or\nwhenever the performance of any act, duty or obligation, or the refraining from\nany act, is required, permitted, authorized or allowed to be secured or\nguaranteed by any law of this Commonwealth, the bond or similar obligation, or\nthe security or guaranty, may be executed by any fidelity and surety insurer\nlicensed to execute such instruments. The execution by any fidelity and surety\ninsurer of a bond, undertaking, recognizance, guaranty or similar obligation by\nits officer, attorney-in-fact, or other authorized representative shall be\naccepted as fully complying with every law or other requirement, now or\nhereafter in force, requiring that the bond, undertaking, recognizance, guaranty\nor similar obligation be given or accepted or that it be executed by one or more\nsureties, or that the surety or sureties be residents, householders or\nfreeholders, or possess any other qualifications.\n\nHISTORY: 1952, c. 317, \u00a7 38.1-644; 1986, c. 562.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}