Section 110. License termination

A. Any surety bail bondsman license issued pursuant to this part shall terminate immediately upon the termination of the licensee's property and casualty insurance agent license, and may not be applied for again until the person has been issued a new property and casualty insurance agent license.

B. Any property bail bondsman license or agent bail bondsman license pursuant to this article shall terminate immediately if the collateral requirements are not maintained and may not be applied for again until the person has met the collateral requirements pursuant to 6VAC20-250-40.

C. A bail bondsman may apply for reinstatement of the terminated license no more than 120 days from termination with the appropriate reinstatement application and nonrefundable fees. After 120 days application for a bail bondsman license shall be subject to the initial bail bondsman license application requirements pursuant to 6VAC20-250-40.

Historical Notes

Derived from Volume 24, Issue 23, eff. August 20, 2008.

Statutory Authority

§ 9.1-185.2 of the Code of Virginia.