§ 31A-35-401. Requirement for license or certificate of authority -- Process -- Fees -- Limitations.

(1)

(a) A person may not engage in the bail bond surety insurance business unless that person:

(i) is a bail bond surety company licensed under this chapter;

(ii) is a surety insurer that is granted a certificate under this section in the same manner as other insurers doing business in this state are granted certificates of authority under this title; or

(iii) is a bail bond producer licensed in accordance with this section.

(b) A bail bond surety company shall be licensed under this chapter as an agency.

(c) A bail bond producer shall be licensed under Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries, as a limited lines producer.

(2) A person applying for a bail bond surety company license under this chapter shall submit to the commissioner:

(a) a completed application form as prescribed by the commissioner;

(b) a fee as determined by the commissioner in accordance with Section 31A-3-103; and

(c) any additional information required by rule.

(3) A fee required under this section is not refundable.

(4) A fee collected from a bail bond surety company shall be deposited in a restricted account created in Section 31A-35-407.

(5)

(a) A bail bond surety company shall be domiciled in Utah.

(b) A bail bond producer shall be a resident of Utah.

(c) A foreign surety insurer that is granted a certificate to issue bail bonds may only issue bail bonds through a bail bond surety company licensed under this chapter.

Amended by Chapter 10, 2010 General Session