{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/38.2-2409.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/38.2-2409.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/38.2-2409.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/38.2-2409.html"}],"law_id":361858,"edition_id":2,"section_id":361858,"structure_id":51715,"section_number":"38.2-2409","catch_line":"Agreement for joint control of money and assets","history":"Code 1950, \u00a7 38-345; 1952, c. 317, \u00a7 38.1-645; 1986, c. 562.","full_text":"Any person required to execute a bond, undertaking or other obligation may agree with his surety to deposit any or all assets for which he and his surety may be held responsible. The deposit shall be with a bank, savings bank, safe deposit company, or trust company authorized by law to do business as such, or with any other depository approved by the court or a judge of the court, if the deposit is otherwise proper. Assets shall be deposited for safekeeping and held in a manner that prevents the withdrawal of the whole or any part of the deposit without the written consent of the surety, or without an order of a court or a judge, made on any notice to the surety which the court or judge directs. The agreement shall not in any manner release or change the liability of the principal or sureties as established by the terms of the bond.\n\n","order_by":null,"text":{"0":{"id":1347245,"text":"Any person required to execute a bond, undertaking or other obligation may agree with his surety to deposit any or all assets for which he and his surety may be held responsible. The deposit shall be with a bank, savings bank, safe deposit company, or trust company authorized by law to do business as such, or with any other depository approved by the court or a judge of the court, if the deposit is otherwise proper. Assets shall be deposited for safekeeping and held in a manner that prevents the withdrawal of the whole or any part of the deposit without the written consent of the surety, or without an order of a court or a judge, made on any notice to the surety which the court or judge directs. The agreement shall not in any manner release or change the liability of the principal or sureties as established by the terms of the bond.","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":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":""}},"next_section":{"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>"}}}},"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>"}}},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/38.2-2409\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. 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. Those modifications are as follows: in 1952, chapter 317; in 1986, chapter 562.<\/p>","references":false,"refers_to":false,"permalink":{"id":1440755,"object_type":"law","relational_id":361858,"identifier":"38.2-2409","token":"38.2\/24\/1\/38.2-2409","url":"\/38.2-2409\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/38.2-2409\/","token":"38.2\/24\/1\/38.2-2409","dublin_core":{"Title":"Agreement for joint control of money and assets","Type":"Text","Format":"text\/html","Identifier":"\u00a7 38.2-2409","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Any <span class=\"dictionary\">person<\/span> required to execute a <span class=\"dictionary\">bond<\/span>, undertaking or other obligation may agree with his <span class=\"dictionary\">surety<\/span> to deposit any or all <span class=\"dictionary\">assets<\/span> for which he and his <span class=\"dictionary\">surety<\/span> may be held responsible. The deposit shall be with a bank, savings bank, safe deposit <span class=\"dictionary\">company<\/span>, or trust <span class=\"dictionary\">company<\/span> authorized by <span class=\"dictionary\">law<\/span> to do business as such, or with any other depository approved by the <span class=\"dictionary\">court<\/span> or a <span class=\"dictionary\">judge<\/span> of the <span class=\"dictionary\">court<\/span>, if the deposit is otherwise proper. <span class=\"dictionary\">Assets<\/span> shall be deposited for safekeeping and held in a manner that prevents the withdrawal of the whole or any part of the deposit without the written consent of the <span class=\"dictionary\">surety<\/span>, or without an <span class=\"dictionary\">order<\/span> of a <span class=\"dictionary\">court<\/span> or a <span class=\"dictionary\">judge<\/span>, made on any notice to the <span class=\"dictionary\">surety<\/span> which the <span class=\"dictionary\">court<\/span> or <span class=\"dictionary\">judge<\/span> directs. The agreement shall not in any manner release or change the liability of the principal or sureties as established by the terms of the <span class=\"dictionary\">bond<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nAGREEMENT FOR JOINT CONTROL OF MONEY AND ASSETS (\u00a7 38.2-2409)\n\nAny person required to execute a bond, undertaking or other obligation may agree\nwith his surety to deposit any or all assets for which he and his surety may be\nheld responsible. The deposit shall be with a bank, savings bank, safe deposit\ncompany, or trust company authorized by law to do business as such, or with any\nother depository approved by the court or a judge of the court, if the deposit\nis otherwise proper. Assets shall be deposited for safekeeping and held in a\nmanner that prevents the withdrawal of the whole or any part of the deposit\nwithout the written consent of the surety, or without an order of a court or a\njudge, made on any notice to the surety which the court or judge directs. The\nagreement shall not in any manner release or change the liability of the\nprincipal or sureties as established by the terms of the bond.\n\nHISTORY: Code 1950, \u00a7 38-345; 1952, c. 317, \u00a7 38.1-645; 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"}}