N.M. Code R. § 13.20.2.21

Current through Register Vol. 35, No. 11, June 11, 2024

Section 13.20.2.21 - RECORDS OF OPERATIONS

Every bail bondsman shall keep the records required by Subsections A and B of 13.20.2.22 NMAC for at least three years after final termination of liability on the bond and the records required by Subsection C of 13.20.2.22 NMAC for at least five years after final termination of liability on the bond.

A.Bail bond transactions. The record of bail bond transactions shall show:

(1) the name of the solicitor or bondsman involved in the transaction, if any;

(2) the name and address of the defendant;

(3) the name and address of the person paying the premium for the bail bond;

(4) the court in which the bail bond was posted;

(5) the type of bail bond;

(6) the amount of the premium; and

(7) whether the bond was forfeited.

B.Receipt and return of collateral security in the form of property. The record of property received and returned shall show:

(1) the date the property was received;

(2) the name and address of the person from whom the property was received;

(3) a description of the collateral;

(4) the estimated value of the collateral; and

(5) the date the property was returned.

C.Receipt and return of collateral security in the form of cash or negotiable instruments. Cash and negotiable instruments received as collateral security shall be deposited in one or more trust accounts maintained for that purpose. The record of trust accounts shall show:

(1) the date the cash or negotiable instrument was received;

(2) the amount of the cash or negotiable instrument received;

(3) the name and address of the person from whom the cash or negotiable instrument was received;

(4) the name and address of the financial institution maintaining the trust account;

(5) the date of each disbursement;

(6) the amount of each disbursement;

(7) the name of the person to whom the disbursement was made; and

(8) the reason for the disbursement.

N.M. Code R. § 13.20.2.21

1/1/00; Recompiled 11/30/01, Adopted by New Mexico Register, Volume XXVIII, Issue 13, July 11, 2017, eff. 7/11/2017