3VAC5-60-40: Indemnifying bond required of wholesale wine licenses

No wholesale wine license shall be issued unless there shall be on file with the Virginia Alcoholic Beverage Control Authority (authority) an indemnifying bond running to the Commonwealth in the penalty of $10,000, with the licensee as principal and some good and responsible surety company authorized to transact business in the Commonwealth as surety, conditioned upon the faithful compliance with requirements of the Alcoholic Beverage Control Act (§ 4.1-100 et seq. of the Code of Virginia) and the regulations of the authority.

A wholesale wine licensee may request in writing a waiver of the surety and the bond by the authority for good cause shown. If the waiver is granted, the authority may withdraw such waiver of surety and bond at any time for good cause.