CT HB06393

Surety bail bond agents must pay an annual fee of $450 to the Insurance Commissioner by January 31st to cover examination costs.

Licenses automatically expire on February 1st if the annual fee is not paid by January 31st, but the Commissioner must reinstate the license if payment is received within 30 days of expiration.

The Commissioner must notify all licensed surety bail bond agents by December 15th each year about the automatic expiration provision.

A separate "surety bail bond agent examination account" is established within the Insurance Fund to hold examination fees, with any remaining balance transferred to the General Fund at the end of each calendar year.

The Commissioner may adopt regulations to implement surety bail bond agent licensing provisions and establish continuing education requirements for licensed agents.