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:
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
Personal property: All property that is not real property.
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)
In accordance with Section 31A-21-201, a bail bond agency that meets the financial capacity requirements through the use of a letter of credit, personal property, real property, or a surety insurer shall file with the commissioner a copy of each form the bail bond agency or surety insurer uses in the bail bond insurance business.
(b)
A surety insurer filing shall comply with the following:
(i)
a form shall be identified by a unique form number;
(ii)
a form shall include the address, telephone number, and business email address of the bail bond agency and the surety insurer;
(iii)
the surety insurer shall file a form on behalf of each bail bond agency appointed to write on behalf of the surety insurer;
(iv)
once a filing is filed with the commissioner, it is the responsibility of the surety insurer to verify that the bail bond agency and its producers are using the correct form;
(v)
a bail bond agency and its bail bond producers are prohibited from using a form that has not been filed by the surety insurer; and
(vi)
a bail bond agency and its bail bond producers are prohibited from making changes to a form that is filed by the surety insurer.
(c)
A bail bond agency filing, for a bail bond agency that meets the financial capacity requirements through the use of a letter of credit, personal property, or real estate, shall comply with the following:
(i)
a form shall be identified by a unique form number;
(ii)
a form shall include the address, telephone number, and business email address of the bail bond agency;
(iii)
once a filing is filed with the commissioner, it is the responsibility of the bail bond agency to verify that its bail bond producers are using the correct form;
(iv)
a bail bond producer is prohibited from using a form that has not been filed by the bail bond agency; and
(v)
a bail bond producer is prohibited from making changes to a form that is filed by the bail bond agency.
(2)
A form described in Subsection (1) shall be filed 30 days before the form:
(a)
is first used by the bail bond agency or surety insurer; and
(b)
is changed after it is filed under Subsection (2)(a).
(3)
(a)
The commissioner shall maintain and make available for public inspection a file regarding each bail bond agency and each surety insurer.
(b)
A bail bond agency and surety insurer shall maintain a form required to be filed under this section in the office of the bail bond agency or surety insurer.
