An application for a license certificate must be accompanied by a bond in the penal sum of $25,000 and have a corporate surety authorized to do business in this state, to ensure that the applicant will not, in the conduct of his or her business, make any fraudulent representation which causes a financial loss to any purchaser, seller, financial institution, agency or the State of West Virginia. The bond shall be effective on the date the license certificate is issued.
A licensee shall keep the bond in full force and effect at all times. The surety on the bond may cancel the bond upon giving thirty days' notice to the commissioner and, after notice of cancellation, the surety is relieved of liability for any breach or condition occurring after the effective date of the cancellation.
Structure West Virginia Code
Article 6D. Daily Passenger Rental Car Business
§17A-6D-1. License Certificate Required; Application
§17A-6D-2. Collection of Daily Passenger Car Rental Tax Imposed
§17A-6D-3. Liability of Officers of Corporation, etc.
§17A-6D-4. Annual Return; Extension of Time
§17A-6D-5. Applicant Must Be Bonded
§17A-6D-6. Fee Required for License Certificate
§17A-6D-7. Investigation Prior to Issuance of License Certificate; Information Confidential
§17A-6D-8. Refusal of License Certificate
§17A-6D-9. When Application to Be Made; Expiration of License Certificate; Renewal
§17A-6D-10. Form and Display of License Certificate; Certified Copies of License
§17A-6D-11. Changes in Business; Action Required
§17A-6D-13. Inspections; Violations and Penalties
§17A-6D-15. Promulgation of Rules
§17A-6D-16. Vehicle License Cost Recovery Fee Charged by Daily Passenger Rental Car Company