Md. Code Regs. 31.03.05.10

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

Section 31.03.05.10 - Records

A. A bail bondsman shall maintain for a period of 5 years after termination of the surety liability all documentation collected, prepared, and produced by the bail bondsman in the course of providing bail bondsman services, which shall include, but is not limited to, the following:

(1) Evidence of the return of any security or collateral, including a receipt evidencing the return or repayment of the security or collateral;

(2) Copies of the affidavit made in connection with posting a bond or an indemnity agreement or collateral received; and

(3) Copies of all written representations made to any court or to any public official for the purpose of avoiding a forfeiture of bail, setting aside a forfeiture of bail, or causing a defendant to be released on the defendant's own recognizance.

B. In addition to the records set forth in §A of this regulation, a bail bondsman's records shall include the following information:

(1) A copy of the power of attorney form;

(2) The date the bond was executed;

(3) The name of the person who signed the indemnity agreement;

(4) The amount of the bond;

(5) The premium charged;

(6) The premium reported to the surety insurer and the date reported;

(7) A description, including the date and amount, of any collateral received;

(8) A description, including the date and amount, of any collateral returned;

(9) The indemnity agreement;

(10) The disposition of the bond, including the date of disposition;

(11) A copy of any receipt for payment made to obtain an indemnity agreement or for an installment agreement;

(12) The bail bond application;

(13) A copy of the bail bond;

(14) The installment agreement, if any; and

(15) The information required under Regulation .09D of this chapter.

C. Records required by this regulation shall be maintained in writing or by electronic means, provided that the records:

(1) Are clear and legible;

(2) Accurately reproduce an original document in its entirety, including any attachments to the document; and

(3) Preserve any signature contained on the document.

D. The certification required pursuant to Insurance Article, § 10-309(e)(3), Annotated Code of Maryland, shall be submitted by December 31 on a form made available by the Commissioner.

Md. Code Regs. 31.03.05.10

Amended and recodified from .08 effective 43:2 Md. R. 128, eff.2/1/2016