Indiana Code 27-10-3-12. Deposits in accounts of insurers or agents; reports
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Terms Used In Indiana Code 27-10-3-12
- 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.
Sec. 12. All insurers or general agents requiring bail bond agents to post deposits pursuant to their bail bond writing authority must maintain those deposits in a bank, savings association, or credit union in this state. Each insurer or general agent shall report to the commissioner the location of each agent’s account at the time of the agent’s license issuance or renewal. Any change in the location of an agent’s account shall be reported by the insurer or general agent to the commissioner within thirty (30) days of the change of location.
As added by P.L.261-1985, SEC.1. Amended by P.L.79-1998, SEC.33.