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Utah Code Title 31A. Insurance Code § 31A-35-407. Restricted account

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

(1) There is created within the General Fund a restricted account known as the “Bail Bond Administration Account.”

(2)(a) The account shall be funded from the fees imposed under this chapter.

(b) The department shall deposit all fees collected under this part into the account.

(c) The funds in the account shall be used by the department to administer this chapter.

(d) The account shall earn interest, which shall be deposited into the account.

(3) The department shall, at the end of each quarter, provide to the board an itemized accounting that includes the balances at the beginning and the end of the quarter. The department shall provide the report no later than the 30th day of the month subsequent to the last month of the required quarterly report.

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Cite this article: FindLaw.com - Utah Code Title 31A. Insurance Code § 31A-35-407. Restricted account - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-31a-insurance-code/ut-code-sect-31a-35-407/

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