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§ 10-309. Acceptance of payments for premium in installments

West's Annotated Code of MarylandInsuranceEffective: October 1, 2017

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 10. Regulation of Insurance Professions
Subtitle 3. Bail Bondsmen (Refs & Annos)
Effective: October 1, 2017
MD Code, Insurance, § 10-309
§ 10-309. Acceptance of payments for premium in installments
Currentness
Application of section
(a) This section applies to bail bondsmen licensed under this subtitle and to bail bondsmen that provide bail bondsman services under § 5-203 of the Criminal Procedure Article.
In general
(b) A bail bondsman may arrange to accept payment for the premium charged for a bail bond in installments.
Installment agreements
(c) If a bail bondsman arranges to accept payment for the premium charged for a bail bond in installments, the installment agreement:
(1) shall be in a form adopted by the Commissioner;
(2) shall include:
(i) the total amount of the premium owed;
(ii) the amount of any down payment made;
(iii) the balance amount owed to the bail bondsman or the bail bondsman's insurer;
(iv) the amount and due date of each installment payment; and
(v) the total number of installment payments required to pay the amount due; and
(3) may not include a confessed judgment clause that waives a consumer's right to assert a legal defense to an action.
Duties of bail bondsman
(d) If a bail bondsman arranges to accept payment of the premium charged for a bail bond in installments, the bail bondsman shall:
(1) secure a signed affidavit of surety by the defendant or the insurer containing the information required under subsection (c) of this section and provide the affidavit of surety to the court;
(2) take all necessary steps to collect the total amount owed by the insured, including seeking remedies provided by law for the collection of debts; and
(3) keep and maintain records of all collection attempts, installment agreements, and affidavits of surety.
Records made available to Commissioner or public
(e)(1) The bail bondsman shall keep and maintain the records required under this section in an office that is generally accessible to the public during normal business hours.
(2) The bail bondsman shall make the records required under this section available to the Commissioner for inspection.
(3) Each year, each bail bondsman shall certify to the Commissioner that the records required to be kept and maintained under this section are accurate and true.
Actions taken upon violation of section
(f) If a bail bondsman violates any provision of this section, the Commissioner may take any actions authorized under § 10-126 of this title.

Credits

Added by Acts 2012, c. 243, § 1, eff. Oct. 1, 2012; Acts 2012, c. 244, § 1, eff. Oct. 1, 2012. Amended by Acts 2017, c. 807, § 1, eff. Oct. 1, 2017.
MD Code, Insurance, § 10-309, MD INSURANCE § 10-309
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document