TITLE 41

INSURANCE

CHAPTER 10

PRODUCER LICENSING

41-1038.  Definitions. As used in sections 41-1037 through 41-1045, Idaho Code:

(1)  "Bail" means a monetary amount required by the court to release the defendant from custody and to ensure his appearance in court as ordered.

(2)  "Bail agent" means a person who is a licensed producer in the line of surety insurance that is authorized by an insurer to execute or countersign undertakings of bail in connection with judicial proceedings.

(3)  "Bail bond" means a financial guarantee, posted by a bail agent and underwritten by a surety insurance company, that the defendant will appear as ordered.

(4)  "Collateral" means property of any kind given as security to obtain a bail bond.

(5)  "Department" means the department of insurance.

(6)  "Director" means the director of the department of insurance.

(7)  "Person" means an individual or a business entity.

(8)  "Retail consumers of bail bonds" means a defendant and any person who provides collateral to obtain any portion of a bail bond.

(9)  "Surety" or "surety insurance company" means an admitted insurer authorized in the line of surety pursuant to title 41, Idaho Code.

History:

[41-1038, added 2003, ch. 104, sec. 2, p. 329; am. 2010, ch. 86, sec. 2, p. 165.]