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Wholesale Wine Distributors Bond (Individual Or Partnership) Form. This is a Virginia form and can be use in Department Of Alcoholic Beverage Control Statewide.
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Tags: Wholesale Wine Distributors Bond (Individual Or Partnership), Virginia Statewide, Department Of Alcoholic Beverage Control
COMMONWEALTH OF VIRGINIA
DEPARTMENT OF ALCOHOLIC BEVERAGE CONTROL
ALCOHOLIC BEVERAGE CONTROL BOARD
RICHMOND, VIRGINIA
License No.
Individual or
Partnership Form
WHOLESALE WINE DISTRIBUTORS’ BOND
KNOW ALL MEN BY THESE PRESENTS:
I or
That we
, Principal,
of
and
are held and firmly bound unto the Commonwealth of Virginia in the just and full sum of
($
, Surety,
),
to the payment whereof well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and
assigns, jointly and severally, firmly by these presents:
WHEREAS, It is provided by law that no license shall be granted under the Alcoholic Beverage Control Act to any
wholesale wine distributor, until such applicant has filed with the Board a bond running to the Commonwealth, in a penal
sum not exceeding TEN THOUSAND DOLLARS ($lO,OOO.OO), upon a form approved by the Board, signed by the applicant
or licensee, and a surety company authorized to do business in this Commonwealth as surety; or, in lieu of furnishing a
surety upon such, the applicant or licensee may deposit with the Board as security for the performance of the conditions of
the bond, United States Government bonds, Commonwealth of Virginia bonds, or the bonds of any municipality or county
in the State of Virginia, conditioned upon such person securing wine only in a manner provided by law; and that such person
shall not fail to remit to the Board the proper mark-up thereon; shall keep such records as may be required by law, or the
regulations of this Board; and shall abide by such other laws or regulations of the Board as may be from time to time
adopted relative to the handling of wine by wholesale wine distributors.
NOW, THEREFORE, The conditions of this obligation is such, that in the event the wholesale wine distributor, the
above named principal, shall secure wine only in a manner provided by law; and that such wholesale wine distributor shall
remit to the Board the proper mark-up thereon, shall keep such records as may be required by law or regulations of the
Board; and shall abide by such other laws or regulations of the Board as may be from time to time adopted relative to the
handling of wine by wholesale wine distributors, then this obligation shall be null and void; otherwise to remain in full force
and effect, subject, however, to the following conditions:
1. That this bond shall be continuous in form and shall remain in full force and effect until canceled as hereafter
provided.
2. This bond may be canceled at any time by the Principal or the Surety upon giving thirty (30) days written notice
to the Virginia Alcoholic Beverage Control Board, at Richmond, Virginia, of its intention so to do, it being understood that
the Surety shall be liable for any violation of the terms of this bond of the principal accruing during the life of this bond
3. Before the provisions of any regulation of the Virginia Alcoholic Beverage Control Board adopted after the
execution of this bond, shall become a condition of this bond, forty-five (45) days notice in writing to the Surety that such
regulation has been adopted and is to be covered by the terms of this bond, shall be given to the Surety herein.
4. It is further understood and agreed that this bond may be declared forfeited by the Virginia Alcoholic Beverage
Control Board for any violation of the conditions of this bond. Such forfeiture shall be declared only after a hearing before
the Board, after ten (10) days notice in writing to the Principal in the bond, giving the time and place of such hearing; and
the decision of the Board after such hearing shall be final and binding upon the parties to this obligation; and if the bond
shall be declared forfeited, the full amount of this bond shall become immediately due and payable to the Commonwealth
of Virginia. Notice of such hearing shall be served in the same manner as notices for the revocation of a license under the
Alcoholic Beverage Control Act.
IN WITNESS WHEREOF, The said
Principal(s), has hereunto affixed his or their signature and seals; and the Surety has caused these presents to be executed)
by
,
its duly authorized Attorney-in-Fact, this
day of
, 20
(SEAL)
(SEAL)
SURETY
BY:
(SEAL)
Attorney-in-Fact.
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Acknowledgment of Principal
STATE OF VIRGINIA,
, to-wit:
of
, a Notary Public in and for the
I
aforesaid, in the State of Virginia, do certify that
, President
Whose name is signed to the above bond, bearing date on the
20
day of
,
aforesaid, and acknowledged the same.
, personally appeared before me in my
Given under my hand this
,20
day of
day of
.
,20
I further certify that my term of office expires on the
.
Notary Public.
Affidavit and Acknowledgment of Surety
STATE OF
,
of
I,
aforesaid, in the State aforesaid, do certify that
, to-wit:
, Notary Public in and for the
aforesaid and made oath that he is
personally appeared before me in my
that he is duly authorized to execute the foregoing bond by virtue of a certain power of attorney of said company, dated
and recorded in the Clerk’s Office of the
of
, in Deed Book No.
,
, Page
that said power of attorney has not been revoked; that the said company has complied with all the requirements of law
regulating the admission of such companies to transact business in the State of Virginia; that the said company holds the
certificate of the Commissioner of Insurance authorizing it to do business in the State of Virginia; that it has a paid-up
cash capital of not less than $250,000; that the paid-up capital plus the surplus and undivided profits of said company, is
$
; that the penalty of the foregoing bond is not in excess of ten per centum of said sum; that the said
company is not by said bond incurring in the aggregate, on behalf of or on account of the principal named in said bond,
a liability for an amount larger than one-tenth of its paid-up capital, plus its surplus and undivided profits; that the said
company is solvent and fully able to meet promptly all its obligations, and the said
thereupon, in the name and on behalf of the said company, acknowledged the foregoing writing as its act and deed.
My term of office expires
Given under my hand this
, 20
day of
,20
Notary Public.
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