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Ch. 586 2006 LAWS OF MARYLAND
Enacted May 26, 2006.
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CHAPTER 586
(House Bill 833)
AN ACT concerning
Surety Insurance - Failure to Pay Bail Bond Judgment - Penalties
FOR the purpose of providing that a certain surety insurer that is removed by the
District Court from a certain list due to failure to timely resolve or satisfy
certain bail bond forfeitures shall be subject to certain penalties; requiring the
District Court clerk to notify the Maryland Insurance Commissioner of the name
of a certain surety insurer and a certain bond forfeiture at a certain time; and
generally relating to failure of a surety insurer to pay bail bond judgments.
BY adding to
Article - Insurance
Section 21-103
Annotated Code of Maryland
(2002 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Insurance
21-103.
(A) A SURETY INSURER THAT IS REMOVED BY THE DISTRICT COURT FROM
THE LIST OF SURETY INSURERS ELIGIBLE TO POST BONDS IN THE STATE WITH THE
COURT BECAUSE THAT SURETY INSURER FAILED TO TIMELY RESOLVE OR SATISFY
ONE OR MORE BAIL BOND FORFEITURES APPEARING ON THE DISTRICT COURT'S
QUARTERLY LIST OF ABSOLUTE BOND FORFEITURES IN DEFAULT SHALL BE
SUBJECT TO:
(1) A FINE IMPOSED BY THE COMMISSIONER OF NOT LESS THAN $5,000
AND NOT EXCEEDING $10,000 PER UNSATISFIED BOND FORFEITURE; AND
(2) SUSPENSION OR REVOCATION OF THE SURETY INSURER'S
CERTIFICATE OF AUTHORITY THE PENALTIES UNDER § 4-113 OF THIS ARTICLE.
(B) WITHIN 7 14 DAYS AFTER THE FAILURE OF A SURETY INSURER TO
RESOLVE OR SATISFY ALL BOND FORFEITURES IN DEFAULT BY THE DISTRICT
COURT'S DEADLINE, THE DISTRICT COURT CLERK SHALL NOTIFY THE
COMMISSIONER, IN WRITING, OF THE NAME OF THAT SURETY INSURER AND EACH
BOND FORFEITURE THAT WAS NOT RESOLVED OR SATISFIED BY THE DISTRICT
COURT DEADLINE.
- 2786 -
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