LegalFix
Sign In

§ 10-301. Definitions

MD Ins Code § 10-301 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a)    In this subtitle the following words have the meanings indicated.

(b)    “Bail bond” means a written obligation of a defendant, with or without a surety or collateral security, that:

(1)    is conditioned on the appearance of the defendant as required; and

(2)    provides for the payment of a penal sum according to its terms.

(c)    “Bail bondsman” means an authorized insurance producer of a surety insurer.

(d)    “Collateral security” means any property deposited, pledged, or encumbered to secure the performance of a bail bond.

(e)    “License” means a license issued by the Commissioner to provide bail bondsman services.

(f)    “Provide bail bondsman services” means to provide any service in the bail bondsman trade.

(g)    (1)    “Surety” means a person, other than the defendant, that guarantees the appearance of the defendant by executing a bail bond.

(2)    “Surety” includes an uncompensated or accommodation surety.

(h)    “Surety insurer” means a person that, for compensation, directly or through an authorized insurance producer, acts as a surety on a bail bond.

No previous sections
Next Section
§ 10-302. Scope of subtitle