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Each licensed discount medical plan organization shall maintain in force a surety bond in its own name, in an amount not less than thirty-five thousand dollars, in favor of the commissioner for the benefit of any person who is damaged by any violation of this article. The bond shall cover any violation occurring during the time period during which the bond is in effect and shall be issued by an insurance company licensed to do business in this state. A copy of the bond or a statement identifying the depository, trustee, and account number of the surety account, and thereafter proof of annual renewal of the bond or maintenance of the surety account, shall be filed with the commissioner.
Cite this article: FindLaw.com - West Virginia Code Chapter 33. Insurance § 33-15E-6. Surety bond requirements - last updated January 01, 2020 | https://codes.findlaw.com/wv/chapter-33-insurance/wv-code-sect-33-15e-6/
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