completed by an applicant to provide information about the risk to be insured; and
(ii)
that contains information that is used by the insurer to evaluate risk and decide whether to:
(A)
insure the risk under:
(I)
the coverage as originally offered; or
(II)
a modification of the coverage as originally offered; or
(B)
decline to insure the risk; or
(b)
used by the insurer to gather information from the applicant before issuance of an annuity contract. See Utah Code 31A-1-301
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
License: includes a certificate of authority issued to an insurer. See Utah Code 31A-1-301
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(a)
A bail bond agency shall have and maintain in this state a place of business:
(i)
accessible to the public; and
(ii)
where the bail bond agency principally conducts transactions authorized by its bail bond agencylicense.
(b)
The address of the place of business described in Subsection (1)(a) shall appear upon:
(i)
the application for a bail bond agency license; and
(ii)
a bail bond agency license issued under this chapter.
(c)
In addition to complying with Subsection (1)(b), a bail bond agency shall register and maintain with the commissioner the following at which the commissioner may contact the bail bond agency:
(i)
a telephone number; and
(ii)
a business email address.
(d)
A bail bond agency shall notify the commissioner within 20 days of a change in the bail bond agency’s:
(i)
place of business address;
(ii)
telephone number; and
(iii)
business email address.
(e)
This section does not prohibit a bail bond agency from maintaining the place of business required under this section in the licensee’s residence, if the residence is in Utah.
(2)
The bail bond agency shall keep at the place of business described in Subsection (1)(a) the records required under Section 31A-35-604.
