Md. Code Regs. 31.03.05.02

Current through Register Vol. 51, No. 22, November 1, 2024

Section 31.03.05.02 - Definitions

A. (text unchanged)

B. Terms Defined.

(1) "Affidavit" means a dated written or printed statement of facts, made voluntarily, and confirmed by oath or affirmation of the person making it, taken before an individual having authority to administer such oath or affirmation in connection with posting a bail bond pursuant to Maryland Rule 4-217.

(2) "Appointment" has the meaning set forth in Insurance Article, § 1-101, Annotated Code of Maryland.

(3) "Authorized insurer" has the meaning set forth in Insurance Article, § 1-101, Annotated Code of Maryland.

(4) "Bail bond" has the meaning set forth in Insurance Article, § 10-301, Annotated Code of Maryland.

(5) "Bail bond application" means a written request to a surety insurer for a bail bond that sets forth the required information to purchase a policy of surety insurance.

(6) "Bail bondsman" means a surety insurance producer who is appointed by a surety insurer to solicit, negotiate, or procure bail bonds on behalf of that surety insurer.

(7) "Bail bondsman services" means any conduct relating to the sale, solicitation, negotiation, or procurement of a bail bond, and includes the posting of a bail bond.

(8) "Balance amount" means the amount of premium owed by a person under an installment agreement after subtracting the down payment from the premium.

(9) "Commissioner" means the Maryland Insurance Commissioner.

(10) "Indemnity agreement" means a written surety agreement that is entered into by a bail bondsman and a person who agrees to indemnify a bail bondsman or surety insurer.

(11) "Installment agreement" means a written agreement between a bail bondsman and a person in which the person agrees to pay, and the bail bondsman agrees to accept, the payment of a premium for a bail bond using installment payments.

(12) "Insurance producer" has the meaning set forth in Insurance Article, § 1-101, Annotated Code of Maryland.

(13) "Licensed insurance producer" has the meaning set forth in Insurance Article, § 1-101, Annotated Code of Maryland.

(14) "Property bail bondsman" has the meaning set forth in Criminal Procedure Article, § 5-209, Annotated Code of Maryland.

(15) "Surety insurance" has the meaning set forth in Insurance Article, § 1-101, Annotated Code of Maryland.

(16) "Surety insurance producer" means a licensed insurance producer who, for compensation, sells, solicits, negotiates, or procures surety insurance contracts and is appointed by an authorized surety insurer to act as an insurance producer.

(17) "Surety insurer" has the meaning set forth in Insurance Article, § 10-301, Annotated Code of Maryland.

Md. Code Regs. 31.03.05.02

Amended effective 43:2 Md. R. 128, eff.2/1/2016