Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 03 - INSURANCE PRODUCERS AND OTHER INSURANCE PROFESSIONALS
Chapter 31.03.05 - Bail Bonds
Section 31.03.05.11 - Premium Receipts
Universal Citation: MD Code Reg 31.03.05.11
Current through Register Vol. 51, No. 19, September 20, 2024
A. A bail bondsman who collects a premium shall provide a numbered receipt to the person paying the premium. A copy of the receipt shall be retained by the bail bondsman and maintained in accordance with Regulation .10 of this chapter.
B. A receipt shall contain the following information:
(1) The name, place of business, address, and telephone number of the bail bondsman who collected the premium;
(2) An itemized statement of the amount of bail and the jurisdiction for which the bond is being written;
(3) An itemized statement of the premium charged;
(4) The amount collected by the surety insurance producer;
(5) The unpaid balance, if any;
(6) The amount, value, and description of any collateral received;
(7) The following statement, in capital and bold letters of at least 12-point font, at the bottom of the receipt: THE PERSON PAYING THE PREMIUM MUST RECEIVE A COPY OF THIS RECEIPT AT THE TIME OF MAKING A PAYMENT; and
(8) The insurance producer license number and the printed and signed name of the bail bondsman collecting the premium.
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