Surety bonds are required by law for many circumstances in which a company or person does business with the State or with private citizens. In some cases alternative forms of surety, such as deposit accounts, are authorized. However, most surety bonds are issued by insurance or surety companies authorized to do business in West Virginia.
The bond usually consists of two parts: first, the bond form containing the information about and signature of the bonded person or company and the signature of the bonding company's agent; and second, a power-of-attorney provided by the surety company giving the agent authority to issue the bond and bind the surety company to the amount of the bond.
The bond provides assurance that some assets (up to the cash amount of the bond) will be available in case of a proven claim against the bonded person relating to the services covered by the bond. For example, if a private investigator accepted payment in advance and then never provided the services, the customer could file a claim against the bond to get some of the payment back.
Several licenses, commissions and registrations handled by the Secretary of State are subject to bonding requirements, including:
Copies of the executed bond forms are normally filed with the registrations of these entities.
Surety bonds are required for many other licenses and registrations within the State of West Virginia. However, most of those bonds are filed in the agency that handles the particular registration. The Attorney General approves the form of any surety bond filed with the State.
Textbook and Instructional Materials Bonds
One bond that is specifically required to be filed with the Board of Public Works, for which the Secretary of State serves as Secretary, is the bond for vendors who contract with the State to sell textbooks and instructional materials to the fifty-five county school systems. Statewide selection of textbooks is conducted through the State Board of Education and selected vendors enter into contracts and execute a surety bond to assure the terms of the contract are met.
West Virginia Code §18-2A-4 specifies the requirements for textbook and instructional materials bonds To search other parts of the Code, visit the Legislature's web site and select WV Code.
Requesting Information and Copies of Textbook Bonds
These documents are public information and copies may be ordered. To order a copy, please specify the vendors name and the year of the bond.
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