Virginia Money Order Sales and Money Transmission Bond
Virginia Money Order Sales and Money Transmission Bond Information
A Surety Bond is required for Money Order Sales and Money Transmission businesses having applied for or in the application process with the Virginia State Corporation Commission for a license to engage in business under the Code of Virginia, Title 6.2, Chapter 19. The conditions of the surety bond include strict compliance with the provisions of the Code and satisfaction of all obligations to customers purchasing or holding money orders or initiating or receiving money transmissions as defined in Chapter 19 of Title 6.2 of the Code of Virginia. Furthermore, the bonded principal must satisfy all losses or damages suffered by the Virginia Corporation Commission or anyone financially harmed due to actions described above while dealing with the principal.