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.
Bail bond: means a bail bond insurance product for a specified monetary amount that is:
(a)
executed by a bail bond producer licensed in accordance with Section 31A-35-401; and
(b)
issued to a court, magistrate, or authorized officer to secure:
(i)
the release of a person from incarceration; and
(ii)
the appearance of the released person at court hearings the person is required to attend. See Utah Code 31A-35-102
a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;
(ii)
a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and
(iii)
a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
Member: means a person having membership rights in an insurance corporation. See Utah Code 31A-1-301
Oversight: Committee review of the activities of a Federal agency or program.
Quorum: The number of legislators that must be present to do business.
Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(a)
the following seven voting members who shall be appointed by the commissioner:
(i)
one representative each from four licensed bail bond agencies;
(ii)
two members of the general public who do not have any financial interest in or professional affiliation with any bail bond agency; and
(iii)
one attorney in good standing licensed to practice law in Utah; and
(b)
a nonvoting member who is a staff member of the insurance department appointed by the commissioner.
(2)
(a)
The appointments are for terms of four years. A board member may not serve more than two consecutive terms.
(b)
The commissioner shall, at the time of appointment or reappointment of a board member described in Subsection (1)(a), adjust the length of terms to ensure that the terms of board members are staggered so approximately half of the board is appointed every two years.
(3)
A board member serves until:
(a)
removed by the commissioner;
(b)
the member’s resignation; or
(c)
for a member described in Subsection (1)(a), the expiration of the member’s term and the appointment of a successor.
(4)
When a vacancy occurs in the membership of a board member described in Subsection (1)(a) for any reason, the replacement shall be appointed for the remainder of the unexpired term.
(5)
The board shall annually elect one of its members as chair.
(6)
Four voting members constitute a quorum for the transaction of business.
(7)
A member may not receive compensation or benefits for the member’s service, but may receive per diem and travel expenses in accordance with:
rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.
(8)
(a)
The commissioner, with a majority vote of the board, may remove any member of the board described in Subsection (1)(a) for misconduct, incompetency, or neglect of duty.
(b)
The board shall conduct a hearing if requested by the board member described in Subsection (1)(a) that is to be removed.
(9)
Members of the board are immune from suit with respect to all acts done and actions taken in good faith in carrying out the purposes of this chapter.
