(a) Any person charged with a bailable offense may, before a magistrate authorized to admit the person to bail, be ordered released pending trial on the person’s personal recognizance or upon the execution of an unsecured appearance bond in an amount specified by the magistrate.

(b) In determining whether or not a person shall be released as provided in this section and that a release will reasonably assure the appearance of the person as required, the magistrate shall take into account:

(1) The defendant’s length of residence in the community;

(2) The defendant’s employment status and history, and financial condition;

(3) The defendant’s family ties and relationships;

(4) The defendant’s reputation, character and mental condition;

(5) The defendant’s prior criminal record, including prior releases on recognizance or bail;

(6) The identity of responsible members of the community who will vouch for defendant’s reliability;

(7) The nature of the offense and the apparent probability of conviction and the likely sentence, insofar as these factors are relevant to the risk of nonappearance; and

(8) Any other factors indicating the defendant’s ties to the community or bearing on the risk of willful failure to appear.

[Acts 1978, ch. 506, § 15; T.C.A., § 40-1215.]