9 Va. Admin. Code § 25-770-60
The new permittee must submit proof of mitigation bank credit purchase or in-lieu fee fund donation or evidence of financial responsibility to the department in accordance with this chapter within 60 days of the transfer of the permit from the existing permittee to the new permittee. If the old permittee has completed mitigation activities by filing proof of mitigation bank credit purchase or in-lieu fee fund donation before the transfer of the permit, the new permittee is not required to do so or to provide any additional evidence of financial responsibility. When a transfer of the permit occurs, the old permittee shall continue to comply with the requirements of this chapter until the new permittee has demonstrated that he is complying with the requirements of this chapter. The new permittee shall demonstrate compliance with this chapter within 60 days of the date of the transfer of the permit. Upon demonstration to the department by the new permittee of compliance with this chapter, the department shall notify the old permittee that he or she no longer needs to comply with this chapter as of the date of demonstration.
9 Va. Admin. Code § 25-770-60
Statutory Authority: § 62.1-44.15 of the Code of Virginia.