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Utah Code Title 31A. Insurance Code § 31A-35-401. Requirement for license or certificate of authority--Process--Fees--Limitations

Current as of January 01, 2025 | Updated by Findlaw Staff

(1)(a) A person may not engage in the bail bond insurance business unless that person:

(i) is a bail bond agency licensed under this chapter;

(ii) is a surety insurer that is granted a certificate under this section in the same manner as other insurers doing business in this state are granted certificates of authority under this title; or

(iii) is a bail bond producer licensed in accordance with this section.

(b) A bail bond agency shall be licensed under this chapter as an agency.

(c) A bail bond producer shall be licensed under Chapter 23a, Insurance Marketing--Licensing Producers, Consultants, and Reinsurance Intermediaries, as a limited lines producer.

(2) A person applying for a bail bond agency license under this chapter shall submit to the commissioner:

(a) a completed application form as prescribed by the commissioner;

(b) a fee as determined by the commissioner in accordance with Section 31A-3-103; and

(c) any additional information required by rule.

(3) A fee required under this section is not refundable.

(4) A fee collected from a bail bond agency shall be deposited into a restricted account created in Section 31A-35-407.

(5)(a) A bail bond agency shall be domiciled in Utah.

(b) A bail bond producer shall be a resident of Utah.

(c) A foreign surety insurer that is granted a certificate to sell bail bonds may only sell bail bonds through a bail bond agency licensed under this chapter.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-35-401. Requirement for license or certificate of authority--Process--Fees--Limitations - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-35-401/

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