46.2-446 - Notice to Commissioner prerequisite to cancellation of bond; cancellation not to affect rights arising prior thereto.
§ 46.2-446. Notice to Commissioner prerequisite to cancellation of bond;cancellation not to affect rights arising prior thereto.
No bond shall be cancelled unless twenty days' prior written notice ofcancellation is given the Commissioner, but cancellation of the bond shallnot prevent recovery thereon with respect to any right or cause of actionarising prior to the date of cancellation.
(Code 1950, § 46-467; 1958, c. 541, § 46.1-478; 1989, c. 727.)