                                 CODE OF VIRGINIA

REPORTING STANDARDS AND REQUIREMENTS (§ 9.1-185.14)

A. Each licensed bail bondsman shall report within 10 calendar days to the
Department any change in his residence, name, business name or business address,
and ensure that the Department has the names and all fictitious names of all
companies under which he carries out his bail bonding business.

B. Each licensed bail bondsman arrested for or convicted of a felony shall
report within 10 calendar days to the Department the facts and circumstances
regarding the criminal arrest or conviction.

C. Each licensed bail bondsman shall report to the Department within 10 calendar
days of the final disposition of the matter any administrative action taken
against him by another governmental agency in the Commonwealth or in another
jurisdiction. Such report shall include a copy of the order, consent to order or
other relevant legal documents.

D. Each licensed property bail bondsman shall submit to the Department, on a
prescribed form, not later than the fifth day of each month, a list of all
outstanding bonds on which he was obligated as of the last day of the preceding
month, together with the amount of the penalty of each such bond.

E. Each licensed property bail bondsman shall report to the Department any
change in the number of agents in his employ within seven days of such change
and concurrently provide proof of collateral of $200,000 for each new agent, in
accordance with subsection C of &#xA7; 9.1-185.5.

F. Each licensed surety bail bondsman shall report to the Department within 30
days any change in his employment or agency status with a licensed insurance
company. If the surety bail bondsman receives a new qualifying power of attorney
from an insurance company, he shall forward a copy thereof within 30 days to the
Department, in accordance with subdivision D 2 of &#xA7; 9.1-185.5.

G. Each licensed property bail bondsman shall report to the Department within
five business days if any new lien, encumbrance, or deed of trust is placed on
any real estate that is being used as collateral on his or his agents&#8217;
bonds as well as the amount it is securing. The reporting requirement deadline
is deemed to begin as soon as the licensed property bail bondsman learns of the
new lien, encumbrance, or deed of trust, or should have reasonably known that
such a lien, encumbrance, or deed of trust had been recorded.

HISTORY: 2004, c. 460; 2015, c. 600.