West Virginia Litigation Financier Bond Guide
If you’re applying for a litigation financier registration in West Virginia, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure legal and ethical litigation funding activities
- Who Needs It: Investors funding legal cases in West Virginia
- Regulating Body: The West Virginia Secretary of State
- Required Coverage: $50,000
- Premium Rate: 1–10% based on credit score
Learn all about the bond requirements and process in this guide.
What Is a West Virginia Litigation Financier Bond?
A West Virginia litigation financier bond financially enforces legal and ethical litigation funding practices.
The West Virginia Secretary of State requires this bond as part of the licensing process for legal funding providers in the state.
How Much Do Litigation Financier Bonds Cost in West Virginia?
West Virginia litigation financier bonds cost a small percentage of the bond amount, typically 1–10%. For example, you could pay as low as $500 for the $50,000 bond.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Litigation Financier Bond?
The West Virginia Secretary of State requires a registration and this $50,000 bond for any person performing litigation funding transactions.
Alternatively, you can file a $50,000 letter of credit. However, a surety bond is typically the most affordable and efficient financial security option.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a West Virginia litigation financier bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file the bond with the West Virginia Secretary of State as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a West Virginia Litigation Financier Bond Work?
As with all surety bonds, a litigation financier bond creates a legal contract between three parties:
- Principal: You, the legal funding provider filing the bond
- Obligee: The West Virginia Secretary of State requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding West Virginia Code § 46A-6N-2.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your litigation financier bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
After renewing, you’ll receive a continuation certificate to file with the West Virginia Secretary of State as proof of ongoing coverage.
