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
Bail bond agency: means any sole proprietor or entity that:
is the agent of a surety insurer that sells a bail bond in connection with judicial proceedings;
(ii)
pledges the assets of a letter of credit from a Utah depository institution for a bail bond in connection with judicial proceedings; or
(iii)
pledges personal or real property, or both, as security for a bail bond in connection with judicial proceedings; and
(c)
receives or is promised money or other things of value for a service described in Subsection (2)(b). See Utah Code 31A-35-102
Bail bond insurance: means a guarantee that a person will attend court when required, up to and including surrender of the person in execution of a sentence imposed under Subsection 77-20-501(1), as a condition to the release of that person from confinement. See Utah Code 31A-1-301
Certificate: means a certificate of authority issued under this chapter to allow an insurer to operate as a surety insurer. See Utah Code 31A-35-102
Insurance: includes :
(i)
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
License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
(a)
meet:
(i)
at least quarterly; and
(ii)
at the call of the chair;
(b)
make written recommendations to the commissioner for rules governing the following aspects of the bail bond insurance business:
(i)
qualifications, applications, and fees for obtaining:
procedures for hearing and resolving allegations of unprofessional conduct; and
(v)
sanctions for unprofessional conduct;
(c)
screen:
(i)
bail bond agency license applications; and
(ii)
persons applying for a bail bond agency license; and
(d)
recommend to the commissioner action regarding the granting, renewing, suspending, revoking, and reinstating of bail bond agency license.
(2)
The board may:
(a)
conduct investigations of allegations of unprofessional conduct on the part of persons or bail bond agencies involved in the business of bail bond insurance; and
(b)
provide the results of the investigations described in Subsection (2)(a) to the commissioner with recommendations for:
