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235.09.1-44. Bail Bond Recovery Fund

AR ADC 235.09.1-44Arkansas Administrative CodeEffective: July 1, 2020

West's Arkansas Administrative Code
Title 235. Arkansas Department of Labor and Licensing
Division 9. Professional Bail Bondsman Licensing Board
Rule 1. Rules of Bail Bond Business
Effective: July 1, 2020
Ark. Admin. Code 235.09.1-44
Formerly cited as AR ADC 164.00.1-42
235.09.1-44. Bail Bond Recovery Fund
Currentness
Arkansas Code Ann. § 19-6-826 created the Bail Bond Recovery Fund. The fees collected under the provisions of Ark. Code Ann. § 17-19-301(g)(1)(A) are designated as the Bail Bond Recovery Fund, which shall be administered by the Board.
A. The Board will pay a claim against the Recovery Fund for an unpaid bond forfeiture judgment in accordance with the following process:
(1) Pursuant to Ark. Code Ann. § 17-19-208, a Court sends the Board the statutorily-required documentation regarding an unpaid bond forfeiture;
(2) The bail bond company's security deposit(s) is seized by the Board pursuant to Ark. Code Ann. § 17-19-112 and paid to the Court;
(3) The Board disperses the amount payable, which is calculated under subsection B. below, from the Recovery Fund to the Court.
B. The maximum fund available for disbursement under this section is fifty percent (50%) of the amount of the bond that is left unpaid after deducting the amount of the security deposit under A.(2) above. The maximum amount payable from the Recovery Fund is ten thousand dollars ($10,000) per bond forfeiture judgment.
C. Failure of an entity subject to these rules to remit or pay fees as required under Arkansas Code Ann. § 17-19-301, or to file the quarterly reports required under that section, may result in discipline pursuant to Ark. Code Ann. § 17-19-210.

Credits

Amended July 1, 2020.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 235.09.1-44, AR ADC 235.09.1-44
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