Md. Code Regs. 31.03.05.07

Current through Register Vol. 51, No. 22, November 1, 2024

Section 31.03.05.07 - Rates

A. A bail bondsman shall issue a bail bond that complies with Insurance Article, § 27-216, Annotated Code of Maryland.

B. Except as provided in §C of this regulation, it shall be an unfair trade practice and a violation of the Insurance Article, § 27-216, Annotated Code of Maryland, for a bail bondsman to sell, solicit, procure, or negotiate a bail bond if:

(1) A surety insurer has an approved premium rate for both cash bail bonds and corporate surety bail bonds;

(2) The premium rates differ for cash bail bonds and corporate surety bail bonds; and

(3) A defendant is sold a bail bond with the higher premium rate.

C. If a surety insurer has approved premium rates for cash bail bonds and corporate surety bail bonds, a bail bondsman may sell a defendant a bail bond regardless of the approved premium rate if the court specifies a type of bail bond.

Md. Code Regs. 31.03.05.07

Amended effective 43:2 Md. R. 128, eff.2/1/2016