House Bill 363 Summary

• Requires all bail agents to be Delaware residents; nonresident agents must establish residency and pass the Delaware examination to renew licenses after 2013.

• Mandates disclosure to the Commissioner of any person acquiring 10% or greater financial interest in a bail agent's business or bail bond, and requires such persons to be licensed as bail agents; makes unlicensed persons acting as bail agents guilty of a Class F felony.

• Establishes minimum charges for bail bonds: 7% for surety bonds and 20% for cash bails, with mandatory written agreements before posting bonds; prohibits "discounting" practices.

• Requires criminal background checks from both FBI and Delaware State Police for initial applications and biennial renewals, and mandates specific record-keeping standards including daily bond registers and individual principal files.

• Establishes clearer standards for collateral return within 20 days of bond termination, restricts bail agents to two trade names maximum, and authorizes the Commissioner to impose sanctions consistent with other insurance producers under Title 18, Section 1712.