Virginia Professional Solicitor Bond
Virginia Professional Solicitor Bond Information
A Professional Solicitor's Bond is a type of surety bond required for those planning to conduct business activities as professional solicitors within the Commonwealth of Virginia as defined in §57-48 of the Code of Virginia (1950), as amended. The surety bond is written to Commissioner of the Virginia Department of Agriculture and Consumer Services and must be in a coverage amount of $20,000. The purpose of surety bond is to reimburse the Commonwealth of Virginia and its citizens for any penalties or losses resulting from malfeasance, nonfeasance, or misfeasance while conducting charitable solicitation activities. The bond covers the bonded principal, agents, and its employees.