Terms Used In West Virginia Code 51-10-1

• Approved securities: means cash, irrevocable letter of credit, bond issued by an insurance company licensed and in good standing in this state, or qualified power of attorney issued by an insurer pursuant to a producer underwriting agreement, or real estate located in this state that is unencumbered in, at least, the amount of minimum financial responsibility required as set forth by the insurance commissioner: Provided, That a pledge of real estate by a bondsman as an approved security is not permitted after July 1, 2024: Provided, however, That a bondsman who is licensed by the commissioner as of July 1, 2024, and has pledged real estate as security to conduct bonding business may continue to pledge real estate to operate as a bondsman until his or her license is voluntarily surrendered or revoked by the commissioner. See West Virginia Code 51-10-1
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Bonding business: means the business of becoming surety for compensation upon bonds in criminal cases in the State of West Virginia. See West Virginia Code 51-10-1
• Bondsman: means any person engaged in the bonding business who is approved and licensed under the provisions of this article who pledges cash or approved securities with the commissioner as security for bail bonds written in connection with a judicial proceeding and receives or is promised money or other things of value for the pledge. See West Virginia Code 51-10-1
• Commissioner: means the Insurance Commissioner of West Virginia, as defined in §. See West Virginia Code 51-10-1
• Insurer: means any domestic, foreign, or alien person, including a surety company, which has been qualified generally to transact surety business in the State of West Virginia. See West Virginia Code 51-10-1
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• 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