Indiana Code 27-10-2-14. Collateral securities; receipts; records
(b) A bail agent or an insurer shall maintain in the bail agent’s or insurer’s office records of bail bonds executed or countersigned by the bail agent or insurer for at least one (1) year after the liability of the surety has been terminated. Salient details of the bonds shall be a part of the records required by this subsection.
Terms Used In Indiana Code 27-10-2-14
- 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.
- Fiduciary: A trustee, executor, or administrator.
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) a list of every outstanding or unpaid late surrender fee and judgment;
(2) the name of the court in which each outstanding or unpaid late surrender fee and judgment is recorded; and
(3) all other information determined by the commissioner to be pertinent.
(d) The commissioner may:
(1) deny;
(2) suspend;
(3) revoke; or
(4) refuse to renew;
a license issued under this article for failure of the licensee to comply with subsection (c).
(e) The commissioner may impose a civil penalty of not more than ten thousand dollars ($10,000) against:
(1) an insurer;
(2) a bail agent; or
(3) a firm or an agency;
for failure to comply with subsection (c).
(f) A civil penalty imposed under subsection (e) may be enforced in the same manner as a civil judgment.
As added by P.L.261-1985, SEC.1. Amended by P.L.355-1989(ss), SEC.5; P.L.224-1993, SEC.11; P.L.86-2011, SEC.1.