Virginia Code 46.2-1701.1: Bond of applicants.
The applicant shall file a surety bond in the amount of $100,000 for a Class A licensee and $5,000 for a Class B licensee. The bond shall be payable to the Commonwealth of Virginia and conditioned to protect the contractual rights of students. The bonding requirement for a Class A license may be reduced, at the discretion of the Department, on a showing by the school that no course of study for which tuition is collected lasts longer than thirty days or that the school collects no advance tuition other than equal monthly installments based on the length of the course of study. The minimum bond for any school shall be $5,000. The Department may collect against this bond in the case that the driver training school violates applicable state or federal law or regulation.
Terms Used In Virginia Code 46.2-1701.1
- Class A licensee: means a driver training school that provides entry-level driver training in the operation of commercial motor vehicles as defined in § Virginia Code 46.2-1700
- Class B licensee: means a driver training school that provides training in the operation of any type of motor vehicle other than motorcycles and commercial motor vehicles as defined in § Virginia Code 46.2-1700
- school: means a business enterprise conducted by an individual, association, partnership, or corporation, for the education and training of persons, either practically or theoretically or both, to operate or drive motor vehicles, and charging a consideration or tuition for such services. See Virginia Code 46.2-1700
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
1991, c. 214; 2019, c. 750.