CT SB00028

Establishes comprehensive licensing requirements for surety bail bond agents under the Insurance Commissioner, including applicant age (18+), U.S. citizenship, background checks, and prohibition on convictions for disqualifying offenses (felonies or specific misdemeanors involving dishonesty or drug-related crimes).

Requires surety bail bond agents to charge only commissioner-approved premium rates, file monthly certifications of compliance, and maintain detailed records of bail bonds executed; prohibits deduction of fees from premiums owed to principals except as authorized.

Creates regulations for handling collateral security and indemnity, including 35% minimum down payment requirements for premium financing, 21-day return deadlines upon bond termination, and limits on conversion expenses (maximum 10% of bail bond face value).

Prohibits bail bond agents and professional bondsmen from soliciting in courthouses/detention facilities, paying bribes to officials, recommending attorneys for consideration, or executing bonds without written authorization; establishes penalties including suspension/revocation of licenses and larceny charges for misappropriation of funds.

Adds new fee structure: $150 filing fee and $100 annual renewal fee for surety bail bond agent licenses, plus $450 annual examination fee; establishes dedicated examination account within the Insurance Fund.