W. Va. Code R. § 114-103-12

Current through Register Vol. XLI, No. 50, December 13, 2024
Section 114-103-12 - Notice of Bankruptcy or Receivership

Upon the filing for protection under the United States Bankruptcy Code or any state receivership law by any licensed bail bondsman or by any bail bond business in which the bail bondsman holds a position of management or ownership, the bail bondsman shall notify the Commissioner of the filing for protection within five working days after the filing. Failure to notify the Commissioner within five working days after the filing for bankruptcy protection shall cause the bail bondsman's license to be immediately suspended pending further investigation and hearing. The Commissioner will notify all detention facilities and courts in this State of a bail bondsman's suspension pursuant to this section within five working days thereof. Notification under this section may be made electronically. The Commissioner shall not be liable for any of the incurred liabilities of a bondsman who files for bankruptcy.

W. Va. Code R. § 114-103-12