SB 1921 Summary

• Creates a new "multi-county agent bondsman" license category for professional bondsmen who have been continuously licensed for at least 2 years and meet enhanced financial requirements of $250,000 net worth and a $100,000 deposit with the Insurance Commissioner.

• Multi-county agent bondsmen may write bail bonds in multiple counties without the bond limitation restrictions that apply to other professional bondsmen, allowing them to conduct statewide business.

• Establishes higher licensing fees for multi-county agent bondsmen ($750.00 in addition to standard fees) and renewal fees ($1,000.00 biennially) compared to other bail bondsmen.

• Requires professional bondsmen and multi-county agent bondsmen to submit annual financial statements prepared by certified accountants and monthly electronic reports to the Insurance Commissioner detailing bonds written, liabilities, and collateral.

• Makes license transferable to a spouse or designated beneficiary upon death or legal incapacity of a multi-county agent bondsman, with transferee permitted to operate for 180 days if holding a valid surety bondsman license and maintaining required assets.