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§ 10-301. Definitions

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 10. Regulation of Insurance Professions
Subtitle 3. Bail Bondsmen (Refs & Annos)
MD Code, Insurance, § 10-301
§ 10-301. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Bail bond
(b) “Bail bond” means a written obligation of a defendant, with or without a surety or collateral security, that:
(1) is conditioned on the appearance of the defendant as required; and
(2) provides for the payment of a penal sum according to its terms.
Bail bondsman
(c) “Bail bondsman” means an authorized insurance producer of a surety insurer.
Collateral security
(d) “Collateral security” means any property deposited, pledged, or encumbered to secure the performance of a bail bond.
License
(e) “License” means a license issued by the Commissioner to provide bail bondsman services.
Provide bail bondsman services
(f) “Provide bail bondsman services” means to provide any service in the bail bondsman trade.
Surety
(g)(1) “Surety” means a person, other than the defendant, that guarantees the appearance of the defendant by executing a bail bond.
(2) “Surety” includes an uncompensated or accommodation surety.
Surety insurer
(h) “Surety insurer” means a person that, for compensation, directly or through an authorized insurance producer, acts as a surety on a bail bond.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997. Amended by Acts 2001, c. 731, § 1, eff. July 2, 2001.
Formerly Art. 48A, § 676.
MD Code, Insurance, § 10-301, MD INSURANCE § 10-301
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.
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