Florida Regulations 69B-221.140: Indemnity Agreement; Form
Current as of: 2024 | Check for updates
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No indemnity agreement shall be entered into between a principal and surety or any agent of the surety, and no application shall be accepted by a bail bond agent, engaged in the bail bond business, or a surety company, for a bail bond in which an indemnity agreement is required between a principal and a surety, or any agent of such surety, unless the indemnity agreement reads as follows:
“”For good and valuable consideration, the undersigned principal hereby agrees to indemnify and hold harmless, the surety company or its agent for all losses not otherwise prohibited by law, or rules of the Department of Financial Services.””
Rulemaking Authority 648.26 FS. Law Implemented Florida Statutes § 648.442. History-Repromulgated 12-24-74, Formerly 4-1.15, 4-1.015, Amended 4-14-97, 1-22-03, Formerly 4-221.140.
“”For good and valuable consideration, the undersigned principal hereby agrees to indemnify and hold harmless, the surety company or its agent for all losses not otherwise prohibited by law, or rules of the Department of Financial Services.””
Rulemaking Authority 648.26 FS. Law Implemented Florida Statutes § 648.442. History-Repromulgated 12-24-74, Formerly 4-1.15, 4-1.015, Amended 4-14-97, 1-22-03, Formerly 4-221.140.
Terms Used In Florida Regulations 69B-221.140
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.