West Virginia has a new enactment for medical discount providers referred to as HB 4404. The law requires a surety bond equal to or more than $35,000 to be posted by discount medical establishments. The bond attained by the discount medical organizations must be in favor of the Insurance Commissioner for the advantage of individuals that may be damaged by the organization’s breach of the new law; it is mandatory that the insurance company who wrote the bond is licensed in the state.

There is a new depository bond law in the state of West Virginia called HB 4692. The law provides an alternative to the depository bond requirements for public funds belonging to the state. Existing law requires a $10,000 bond to be posted by eligible depositories. The new law allows such banking establishments to position deposits in certificates of deposit. The certificates of deposit requirements are outlined by the new law; this will make banking establishments qualified to use them in lieu of bonds.

On 03/27/2008, the state of West Virginia enacted SB 292. The new law authorizes the Commissioner of Banking to make a claim for an unpaid civil administrative penalty or an unpaid assessment invoice against a mortgage lender’s license bond. The law in place allows claims against the bond directly from consumers. The new law became active on June 7, 2008.