MS HB843

Amends Mississippi Code Section 83-39-7 to require personal sureties acting as bail agents to maintain a deposit of securities equal to one-tenth of all bonds or undertakings written in the state on which they are liable, with a minimum of $30,000.

Replaces the fixed $30,000 qualification bond requirement with a variable deposit amount that adjusts based on the bail agent's outstanding liability.

Requires the Insurance Department to submit a report to legislative committees by December 1, 2017, detailing bond amounts written by each bail bondsman and compliance issues with the Bail Bond Database.

Allows the commissioner discretionary authority to release a portion of the deposit based on review of a bail agent's specific financial circumstances and history on a case-by-case basis.

Takes effect July 1, 2018.