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 producer: means an individual who:
(a)
is appointed by:
(i)
a surety insurer that sells bail bonds; or
(ii)
a bail bond agency licensed under this chapter;
(b)
is appointed to execute or countersign undertakings of bail in connection with judicial proceedings; and
(c)
receives or is promised money or other things of value for engaging in an act described in Subsection (3)(b). See Utah Code 31A-35-102
producer: means a person licensed or required to be licensed under the laws of this state to sell, solicit, or negotiate insurance. See Utah Code 31A-1-301
sells bail bonds in connection with judicial proceedings. See Utah Code 31A-35-102
(a)
records of all bail bonds the bail bond producer executes or countersigns, so the public may obtain all necessary information concerning those bail bonds for not less than the current calendar year plus the three prior years after the liability of the bail bond agency or surety insurer has been terminated; and
(b)
any additional information the commissioner may reasonably require by rule.
(2)
Records required to be maintained under Subsection (1) shall be available for examination by the commissioner or the commissioner’s representatives during regular business hours.
(3)
The bail bond agency shall maintain for not less than the current calendar year and the three years after receipt all records of any bail bond executed or countersigned by a bail bond producer appointed by the bail bond agency.
