Louisiana Administrative Code
Title 37 - INSURANCE Part
Part XIII - Regulations
Chapter 187 - Regulation 123-Producer Responsibility for Bail Bond Collateral
Section XIII-18711 - Necessity of a Written Agreement for Collateral

A. All agreements concerning collateral must be in writing.

B. Written collateral agreements shall not contain any provision that is contrary to the requirements of this regulation or to those set forth in any law in Louisiana regarding bail bonds.

C. Written collateral agreements must include the full name of the person pledging the collateral, the full name of the defendant to be released, an accurate and sufficiently detailed description of the collateral, the bond amount, the power of attorney number, and such other information as necessary to specify the bail bond related to the collateral agreement.

D. A copy of the written collateral agreement and a written receipt for the collateral shall be provided to the person offering the collateral at the time of the transaction.

E. Written collateral agreements must also contain assurances that the collateral will not be used by the bail bond producer or surety for personal benefit or gain and that the collateral will be returned in the same condition as pledged.