TITLE 41

INSURANCE

CHAPTER 10

PRODUCER LICENSING

41-1042.  Collections and charges permitted. (1) Notwithstanding any other provision of this chapter, a bail agent in any bail transaction shall not, directly or indirectly, charge or collect money or other valuable consideration from any person except for the following:

(a)  To pay premiums at the rates established by the insurer;

(b)  To provide collateral;

(c)  To reimburse the bail agent for actual expenses incurred in connection with the bail transaction, limited to the following:

(i)   Expenditures actually and reasonably incurred to verify underwriting information or to pay for notary public fees, recording fees, or necessary long distance telephone or telegram fees; provided however, that the total of all such expenditures reimbursed shall not exceed fifty dollars ($50.00); and

(ii)  Travel expenses incurred more than twenty-five (25) miles from a bail agent’s place of business, which includes any city or locality in which the bail agent advertises or engages in bail business, up to the amount allowed by the internal revenue service for business travel for the year in which the travel occurs.

(2)  Except as permitted under this section, a bail agent shall not make any charge for his service in a bail transaction and the bail agent shall fully document all expenses for which the bail agent seeks reimbursement.

History:

[41-1042, added 2003, ch. 104, sec. 6, p. 330.]