(a) Upon approval by the commissioner for a license to transact insurance in this state, the company may issue nonassessable policies of performance bonds.

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Terms Used In West Virginia Code 33-61-9

  • State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10

(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.