TITLE 41

INSURANCE

CHAPTER 10

PRODUCER LICENSING

41-1040.  Bond required. After January 1, 2004, a producer shall not act as a bail agent unless the producer first files with the department and thereafter maintains in force a surety performance bond, executed by an authorized surety insurer, in favor of the director in the amount of fifteen thousand dollars ($15,000). Such bond shall be held in trust for the benefit and protection of the public against a judicial or administrative determination by the department of loss by acts of fraud or dishonesty by the bail agent.

History:

[41-1040, added 2003, ch. 104, sec. 4, p. 329; am. 2010, ch. 86, sec. 5, p. 167.]