HB 5147 Summary

• Establishes comprehensive licensing and regulatory requirements for surety bail bond agents under the Insurance Commissioner, including background checks, criminal history records checks, written examinations, and biennial license renewal on January 31st of even-numbered years.

• Prohibits persons engaged in law enforcement or vested with police powers from being licensed as surety bail bond agents, and makes violation of licensing requirements a Class D felony.

• Creates restrictions on surety bail bond agent conduct including prohibitions on soliciting business in detention facilities or courthouses, recommending specific attorneys, and paying rebates to law enforcement or judicial officials.

• Establishes requirements for build-up funds (held in trust accounts at up to 40% of premium), collateral security handling, and premium financing arrangements with minimum 35% down payments and 15-month repayment terms.

• Requires surety bail bond agents and insurers to maintain detailed records, submit monthly premium certifications and semiannual audits to the Insurance Commissioner, and report suspensions, revocations, and criminal activity within five days.

• Extends similar ethical restrictions and collateral security protections to professional bondsmen under the Commissioner of Public Safety.

• Establishes an annual $450 examination fee for surety bail bond agents dedicated to a separate non-lapsing account within the Insurance Fund.