MN SF4579

Creates new Minnesota Statutes chapter 60M to regulate surety bail bond producers, supervising bail bond agencies, and bail bond enforcement agents under the Commissioner of Commerce.

Requires surety bail bond producers to be licensed, pass a prelicense examination, maintain trust accounts, and comply with annual audits by insurers covering premium collection, collateral security, and collection efforts.

Establishes premium financing requirements limiting credit arrangements to bail bonds with $3,000+ penal sum, requiring 50% down payment and 360-day repayment with maximum 6% annual interest.

Prohibits multiple activities including unsolicited solicitation at detention facilities, paying fees to law enforcement or inmates, recommending attorneys, and requires collateral security compliance with specific receipt and return procedures within 21 days of bond discharge.

Requires bail bond enforcement agents to obtain a license, prohibits law enforcement from holding either surety bail bond producer or enforcement agent licenses, and makes violations of licensure requirements a gross misdemeanor.