Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 03 - INSURANCE PRODUCERS AND OTHER INSURANCE PROFESSIONALS
Chapter 31.03.05 - Bail Bonds
Section 31.03.05.08 - Indemnity Agreement

Universal Citation: MD Code Reg 31.03.05.08

Current through Register Vol. 51, No. 19, September 20, 2024

An indemnity agreement shall:

A. Contain the signatures of the bail bondsman providing the bail bondsman services and the person signing the indemnity agreement;

B. Be executed prior to the issuance of a bail bond;

C. Contain the printed name and insurance producer license number of the bail bondsman providing the bail bondsman services;

D. Require the person signing the indemnity agreement to pay, and the bail bondsman to collect, the premium for the bail bond that is issued:

(1) At the time the indemnity agreement for the bail bond is executed by the bail bondsman and the person signing the indemnity agreement; or

(2) Through installment payments pursuant to a written installment agreement that complies with the requirements set forth in Regulation .09 of this chapter; and

E. Contain the following statement on the first page in capital and bold letters of at least 12-point font: "THE PERSON SIGNING THIS INDEMNITY AGREEMENT IS ENTITLED TO A REFUND OF 100% OF THE PREMIUM PAID IF THIS BAIL BOND IS NOT POSTED."

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