Any fidelity and surety insurer shall be released from its liability on the same terms and conditions as are prescribed by law for the release of individuals. Any fidelity and surety insurer shall have all the rights, remedies and relief to which an individual guarantor, indemnitor, or surety is entitled.
Code 1950, § 38-333; 1952, c. 317, § 38.1-649; 1986, c. 562.
Structure Code of Virginia
Chapter 24 - Fidelity and Surety Insurance
§ 38.2-2400. Class of insurance to which chapter applies
§ 38.2-2401. Fidelity and surety insurer defined
§ 38.2-2402. Fidelity and surety insurer not to transact insurance without appropriate license
§ 38.2-2403. Limitation of liability on risks
§ 38.2-2404. Limit when penalty of bond exceeds actual exposure to risk
§ 38.2-2405. When insurer accepted as surety
§ 38.2-2406. Requirements deemed met by insurer
§ 38.2-2409. Agreement for joint control of money and assets
§ 38.2-2410. Expense of securing bond to be allowed in settlements; exceptions
§ 38.2-2412. Notice to clerks of revocation of licenses
§ 38.2-2412.2. Surety bail bondsman; notice to Department of Criminal Justice Services of violations
§ 38.2-2413. Release of insurers from liability; rights and remedies
§ 38.2-2414. Insurer estopped to deny power to assume liability
§ 38.2-2415. Where civil proceedings may be instituted
§ 38.2-2417. Continuance of power; revocation
§ 38.2-2418. Recordation of instrument of revocation
§ 38.2-2419. Notation of revocation; indexing
§ 38.2-2420. Bonds executed under power of attorney binding on insurer