Statutes > Virginia Statutes > Title 38.2 - INSURANCE. > Chapter 10 - Organization, Admission and Licensing of Insurers (38.2-1000 thru 38.2-1058) > 38.2-1056 - Treasurer to receipt for deposits; responsibility of Commonwealth; taxation of deposited bonds.

38.2-1056 - Treasurer to receipt for deposits; responsibility of Commonwealth; taxation of deposited bonds.

§ 38.2-1056. Treasurer to receipt for deposits; responsibility ofCommonwealth; taxation of deposited bonds.

The State Treasurer shall provide receipts to the insurer for all securitiesdeposited with him under the provisions of this title. The Commonwealthshall be responsible for the safekeeping of the securities. If some or allof the securities are lost, destroyed or misappropriated, the Commonwealthshall pay or satisfy the loss to the insurer making the deposit. Securitiesdeposited with the State Treasurer shall not be subject to taxation.

(Code 1950, §§ 38-42, 38-46; 1952, c. 317, § 38.1-120; 1986, c. 562.)