For purposes of this chapter, the following definitions shall apply:
(1)“Bail agent” or “bail producer” means a surety bail agent or a property bail agent. The term “bail agent” does not include the term “bail enforcement agent” as the same is used in Chapter 55 of Title 24. A surety bail agent may also act as a property bail agent, provided the surety bail agent complies with all provisions of this subchapter applicable to property bail agents.
(2)“Bail agent business entity” shall mean a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity that advertises or acts as a bail agent.
(3)“Bail funder” means, unless expressly exempted pursuant to this subchapter, any person who provides or loans the funds to property bail
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For purposes of this chapter, the following definitions shall apply:
(1) “Bail agent” or “bail producer” means a surety bail agent or a property bail agent. The term “bail agent” does not include the term “bail enforcement agent” as the same is used in Chapter 55 of Title 24. A surety bail agent may also act as a property bail agent, provided the surety bail agent complies with all provisions of this subchapter applicable to property bail agents.
(2) “Bail agent business entity” shall mean a corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity that advertises or acts as a bail agent.
(3) “Bail funder” means, unless expressly exempted pursuant to this subchapter, any person who provides or loans the funds to property bail agents or bail agent business entities that are used or may be used for purposes of furnishing property bail in court proceedings, regardless of whether the provision of funds is classified as a personal or business loan (or whether such loan is secured or unsecured) or gift.
(4) “Collateral” means United States currency, United States postal money orders or cashier’s checks or other property pledged as security or surety for a bail bond in connection with a judicial proceeding.
(5) “Commissioner” shall have the meaning ascribed to it in § 102 of this title.
(6) “Court” means any court of this State that has the power to set bail to enforce the appearance of a defendant in a criminal or civil proceeding.
(7) “Department” shall have the meaning ascribed to it in § 102 of this title.
(8) “Designated bail agent” or “designated responsible licensed producer” means the licensed bail agent who is the head or manager of a bail agent business entity that employs 1 or more licensed bail agents.
(9) “License” shall mean a document issued by the Commissioner authorizing a person to act as a bail agent. The license itself does not create any authority, actual, apparent or inherent, in the holder to represent or commit an insurance carrier.
(10) “Negotiate” shall mean the act of conferring directly with or offering advice directly to a purchaser or prospective purchaser of a surety or property bail bond concerning any of the substantive benefits, terms or conditions of the surety or property bail bond.
(11) “Person” shall mean an individual or a business entity.
(12) “Premium” is the consideration for a surety or property bail bond by whatever name called.
(13) “Property bail” means United States currency, United States postal money orders or cashier’s checks, real property or other property.
(14) “Property bail agent” means any person who pledges property bail as security or surety for a bail bond in connection with a judicial proceeding and receives or is promised therefor money or other things of value. All of the following are deemed property bail agents and are subject to the provisions of this subchapter:
a. Any person who charges or accepts a fee or anything of value for or makes a business of furnishing property bail in any court proceeding.
b. Any person who furnishes property bail in 4 or more court cases in any 1 year whether for compensation or otherwise.
c. Any person who is acting as a bail funder.
(15) “Revocation” shall mean recalling or taking back a license or licenses for a minimum period of 12 months. Any insurer appointments of such license shall likewise be revoked. No individual whose license is revoked shall be issued another license without first complying with all requirements for issuance of a new license under this subchapter.
(16) “Sell” means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company, a person or business entity.
(17) “Solicit” shall mean attempting to sell a surety or property bail bond or asking or urging a person to apply for a surety or bail bond bail bond.
(18) “Surety bail agent” means a person required to be licensed under the laws of this State to sell, solicit or negotiate contracts of surety bail bond insurance and appointed by a surety insurer that is authorized to transact business in this State to sell, solicit or negotiate contracts of surety bail bond insurance.
(19) “Surety insurer” shall mean an insurer having a certificate of authority from the Department to issue surety contracts or bonds to guarantee the performance of any person licensed under this subchapter.
(20) “Suspension” shall mean to bar temporarily the privileges of a bail agent. A suspension shall also include a suspension of the appointment of a surety bail agent by the surety insurer. Upon the expiration of the suspension period and upon satisfactory completion of such terms and conditions as the Commissioner has imposed pursuant to the suspension, all licenses and appointments shall be reinstated.
(21) “Termination” shall mean the cancellation of the relationship between a surety insurer and the surety bail agent or the termination of a surety bail agent’s authority to transact surety insurance.
(22) “Uniform Application” shall mean the current version of the NAIC Uniform Application for resident producer licensing.
(23) “Uniform Business Entity Application” shall mean the current version of the NAIC Uniform Business Entity Application for resident business entities.