(a) Upon approval by the commissioner for a license to transact insurance in this state, the company may issue nonassessable policies of performance bonds.
(b) Operators may procure nonassessable policies of performance bonds from the company or other allowable providers to satisfy the requirements of 22-3-11 of this code.
(c) Nothing in this article shall require compulsory participation in purchasing bonds from the company by operators.
Structure West Virginia Code
Article 61. Mining Mutual Insurance Company
§33-61-2. Findings and Purpose
§33-61-4. Authorization for Creation of Company; Requirements and Limitations
§33-61-5. Governance and Organization
§33-61-6. Management and Administration of the Company
§33-61-7. Application for License; Authority of Commissioner
§33-61-8. Initial Capital and Surplus
§33-61-9. Types of Coverage Authorized; Discretionary Participation