West Virginia Nursing Homes that handle Patients’ Funds are required by the provisions of Chapter 16, Article 5C, Section 7(b) of the Code of West Virginia to file a West Virginia Nursing Home (Residents Funds) Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The West Virginia Nursing Home (Residents Funds) Bond holds you accountable for your business decisions.
By possessing a West Virginia Nursing Home (Residents Funds) Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.