Health spas or health clubs operating in West Virginia are licensed and regulated by the West Virginia Secretary of State who requires that health clubs furnish evidence of a $50,000 surety bond as a prerequisite for licensing.
Qualifying for the $50,000 West Virginia health club bond involves completing an application – which we can begin with you over the phone --- but which will require your signature before review.
Once completed, the application is submitted to an underwriter. There is also a credit review as part of the underwriting process. Surety agencies utilize “soft pulls” which do not adversely affect your FICO score.
Good credit is required, and upon approval your annual premium is 1%, $500.
Once the premium is paid, the bond is issued to you immediately. The original bond will be sent to you by the following business day, which either the President or Vice President of your company must sign as Principal before filing with the Secretary.
The $500 premium for your $50,000 Virginia health spa bond renews annually on the anniversary of its issuance. An active surety bond must remain on file for West Virginia health spas and clubs.
The option also exists to prepay your bond for up to 3 years thereby offering you a savings over year to year premium renewals.
The premium prepayment options and savings are as follows:
In addition to serving as a financial guarantee of your compliance with all laws involved in operating a health club entity, the bond is required pursuant to Chapter 46A, Article 1, Section 101, and the sections which follow (which go into relevant detail).
AmeriPro Surety Bonds is a surety bonds-only agency. We provide health spa and health club bonds in West Virginia and anywhere required nationwide.
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