Bill Text: VA HB2326 | 2011 | Regular Session | Chaptered
Bill Title: Waterworks systems; regulation.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2011-03-24 - Governor: Acts of Assembly Chapter text (CHAP0502) [HB2326 Detail]
Download: Virginia-2011-HB2326-Chaptered.html
Be it enacted by the General Assembly of Virginia: 1. That § 32.1-174.1 of the Code of Virginia is amended and reenacted as follows: § 32.1-174.1. Bonds of permit holders. A. The Board may by regulation require owners holding or issued permits for waterworks pursuant to this article, to post bonds or deposit funds to be placed in escrow. B. The Board or the governing body of a county, city or town
in which a waterworks is located may request the circuit court having
jurisdiction where the waterworks is located to order forfeiture of the owner's
bond or escrow account
C. In addition to ordering such forfeiture, the court may, with the concurrence of the governing body of the county, city or town in which the waterworks is located, place the waterworks in receivership naming the county, city, or town, or any public service authority created by the county, city or town, as receiver. D. E. The Board may adopt regulations for determining the amount of the bond or funds to be placed in escrow based upon the number of persons served, the number of connections served, the age and condition of the waterworks system infrastructure, the cost of maintaining, repairing, or replacing the waterworks system infrastructure, and the water supply capacity of the permit holder. F. No state, local or other governmental agency shall be required to post a bond or deposit funds. The Board may, by regulation, exempt classes of permit holders from such requirements if the Board determines such classes present no significant risks to public health and safety. G. An acceptable bond for the purposes of this section shall be a bond issued by a fidelity or surety company authorized to do business in Virginia, a personal bond secured by such collateral as the Board may require or a cash bond. |