Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 03 - INSURANCE PRODUCERS AND OTHER INSURANCE PROFESSIONALS
Chapter 31.03.05 - Bail Bonds
Section 31.03.05.07 - Rates
Universal Citation: MD Code Reg 31.03.05.07
Current through Register Vol. 51, No. 19, September 20, 2024
A. A bail bondsman shall issue a bail bond that complies with Insurance Article, § 27-216, Annotated Code of Maryland.
B. Except as provided in §C of this regulation, it shall be an unfair trade practice and a violation of the Insurance Article, § 27-216, Annotated Code of Maryland, for a bail bondsman to sell, solicit, procure, or negotiate a bail bond if:
(1) A surety insurer has an approved premium rate for both cash bail bonds and corporate surety bail bonds;
(2) The premium rates differ for cash bail bonds and corporate surety bail bonds; and
(3) A defendant is sold a bail bond with the higher premium rate.
C. If a surety insurer has approved premium rates for cash bail bonds and corporate surety bail bonds, a bail bondsman may sell a defendant a bail bond regardless of the approved premium rate if the court specifies a type of bail bond.
Disclaimer: These regulations may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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