Md. Code Regs. 31.03.05.11

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

Section 31.03.05.11 - Premium Receipts

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.

Md. Code Regs. 31.03.05.11

Amended and recodified from .09 effective 43:2 Md. R. 128, eff.2/1/2016