Okla. Admin. Code § 365:25-5-51

Current through Vol. 41, No. 19, June 17, 2024

Section 365:25-5-51 - Specific financial circumstances enumerated

(a) For purposes of Section 1306(A)(5) of Title 59 of the laws of this state, the specific financial circumstances warranting release of a professional deposit are:

(1) Fire that damages or destroys either the office or residence of the bondsman;

(2) Flood that damages or destroys either the office or residence of the bondsman;

(3) Other natural disaster that damages or destroys either office or residence of the bondsman;

(4) Medical problem or illness sustained by either the bondsman or a member of the immediate family of the bondsman.

(5) The bondsman has unused bail writing capacity of at least forty percent (40%) of their liability limit, and has at least twelve (12) consecutive months of being at sixty percent (60%) or below this writing limit.

(b) The bondsman shall have the burden of showing the Commissioner by clear and convincing evidence the existence or occurrence of the circumstances, as well as providing to the Commissioner any necessary supporting documentation or other evidence the Commissioner requires.

(c) A bondsman whose license is suspended or has been revoked shall not be allowed to apply for a partial return of a deposit.

Okla. Admin. Code § 365:25-5-51

Added at 27 Ok Reg 165, eff 11-1-09 (emergency) ; Added at 27 Ok Reg 1551, eff 7-14-10 ; Amended at 30 Ok Reg 1800, eff 7-14-13