Texas Insurance Code 3503.204 – Disclosure Requirements
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Terms Used In Texas Insurance Code 3503.204
- 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.
A surety company that executes or delivers in this state a bail bond as defined by § 1704.001, Occupations Code, shall disclose in the company’s financial statement filed with the department the aggregate amount of:
(1) gross premium for bail bond business reported in the company’s surety line of business;
(2) premium or service fees retained by the bail bond surety or agent; and
(3) premium for bail bond business received by the company, net of amounts retained by the bail bond surety or agent.