SB 1284 Summary

• Requires bail bond agents to maintain separate accounts for cash collateral and provide fee disclosure statements to potential indemnitors in advance of transactions.

• Establishes that bail bond agent premiums are valid for one year from posting date, with renewal fees prorated accordingly.

• Prohibits bail bond agents from charging fees or expenses not disclosed in the fee agreement if they solely benefit the agent, and requires signed bail bond contracts and fee agreements before posting secured appearance bonds.

• Clarifies that bail bond agents holding collateral in a fiduciary capacity must maintain adequate insurance and are responsible for insurance deductibles when property is damaged or lost, with weather damage remaining the indemnitor's responsibility.

• Authorizes the director to suspend or revoke a bail bond agent license for charging fees exceeding maximum allowable amounts or violating any provision of law or rule in conducting business.