Virginia Law

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 a felony shall submit a copy of the warrant of arrest within seven days to the department.

C. 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.

D. 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.

E. Each licensed bail bondsman shall report to the department within 24 hours any event in which he discharges a firearm during the course of his duties.

F. 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.

G. 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 § 9.1-185.5 of the Code of Virginia.

H. Each licensed agent bail bondsman shall report to the department termination of his employment within seven days of such termination.

I. Each licensed property bail bondsman shall report to the department within five business days any change in legal ownership or 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' 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 any change in legal ownership or of the new lien, encumbrance, or deed of trust, or should have reasonably known of the change in legal ownership or that such a lien, encumbrance, or deed of trust had been recorded.

J. 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 § 9.1-185.5 of the Code of Virginia.