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AR HB1244

Bill

Official Source

Status

Passed

3/18/2011

Primary Sponsor

Henry Wilkins

Click for details

Origin

House of Representatives

88th General Assembly (2011 Regular)

AI Summary

  • Repeals Arkansas Code § 17-19-304, which established maximum unsecured bond limits for professional bail bond companies
  • Eliminates the formula limiting unsecured bonds to $100,000 for each $25,000 in letters of credit or certificates of deposit filed with the Professional Bail Bond Company and Professional Bail Bondsman Licensing Board
  • Removes the provision capping unsecured bonds at 10 times the net worth of the professional bail bond company as reported in financial statements
  • Eliminates the requirement that financial statements be prepared in accordance with American Institute of Certified Public Accountants standards

Legislative Description

To Repeal Arkansas Code 17-19-304.

Last Action

House Notification that HB1244 is now Act 343

3/18/2011

Committee Referrals

Insurance & Commerce2/21/2011
Judiciary1/27/2011

Full Bill Text

No bill text available