41-1043. COLLATERAL. (1) A bail agent may accept collateral in connection with the bail bond transaction if the collateral is not excessive in relation to the face amount of the bond.
(2) All collateral received by a bail agent is received in a fiduciary capacity.
(a) Collateral received in the form of cash must be deposited and maintained in a trust account that is separate and apart from any other funds or assets of the bail agent.
(b) Collateral other than cash must be maintained in a separate and secure location apart from the assets of the bail agent.
(3) Collateral received must be returned to the person who deposited the collateral with the bail agent within fourteen (14) days of the date notice is received that the obligation, the satisfaction of which was secured by collateral, is discharged.
(4) A copy of the order of the court wherein the bail or undertaking was ordered exonerated shall be deemed prima facie evidence of exoneration or termination of the liability.
(5) If a bail agent accepts collateral, the bail agent shall give a written receipt for the collateral to the person from whom the collateral was received. The receipt shall include a full and detailed accounting of the collateral received.
History:
[41-1043, added 2003, ch. 104, sec. 7, p. 330.]
Structure Idaho Code
Chapter 10 - PRODUCER LICENSING
Section 41-1001 - PURPOSE AND SCOPE.
Section 41-1002 - TERMS CONSTRUED.
Section 41-1003 - DEFINITIONS.
Section 41-1004 - LICENSE REQUIRED.
Section 41-1005 - EXCEPTIONS TO LICENSING.
Section 41-1006 - APPLICATION FOR EXAMINATION.
Section 41-1007 - APPLICATION FOR PRODUCER LICENSE.
Section 41-1008 - PRODUCER LICENSE.
Section 41-1009 - NONRESIDENT PRODUCER LICENSE.
Section 41-1010 - NONRESIDENT PRODUCERS — SERVICE OF PROCESS.
Section 41-1011 - ISSUANCE — REFUSAL OF LICENSE.
Section 41-1012 - EXEMPTION FROM EXAMINATION.
Section 41-1013 - CONTINUATION — EXPIRATION OF LICENSES — CONTINUING EDUCATION STATEMENT.
Section 41-1014 - ASSUMED NAMES.
Section 41-1015 - TEMPORARY LICENSING.
Section 41-1016 - ADMINISTRATIVE PENALTY — SUSPENSION, REVOCATION, REFUSAL OF LICENSE.
Section 41-1017 - COMMISSIONS.
Section 41-1018 - APPOINTMENTS.
Section 41-1019 - NOTIFICATION TO DIRECTOR OF TERMINATION.
Section 41-1020 - RECIPROCITY.
Section 41-1021 - REPORTING OF ACTIONS.
Section 41-1022 - INSURERS MUST ACCEPT BUSINESS THROUGH LICENSED PRODUCERS ONLY.
Section 41-1023 - COUNTERSIGNATURE OF POLICIES — POWER OF ATTORNEY.
Section 41-1024 - REPORTING AND ACCOUNTING FOR PREMIUMS.
Section 41-1026 - PROCEDURE FOLLOWING SUSPENSION, REVOCATION, DENIAL — REINSTATEMENT.
Section 41-1028 - INACTIVE STATUS.
Section 41-1029 - SEVERABILITY.
Section 41-1030 - PRODUCER COMPENSATION.
Section 41-1037 - REQUIREMENTS FOR BAIL AGENTS — FINDINGS — PURPOSE.
Section 41-1038 - DEFINITIONS.
Section 41-1039 - LICENSE REQUIRED.
Section 41-1040 - BOND REQUIRED.
Section 41-1042 - COLLECTIONS AND CHARGES PERMITTED.
Section 41-1044 - EARLY SURRENDER OF DEFENDANT TO CUSTODY — RETURN OF PREMIUM.
Section 41-1045 - RESPONSIBILITY FOR ACTIONS OF OTHERS.
Section 41-1081 - REQUIREMENTS FOR SALE OF PORTABLE ELECTRONICS INSURANCE — FINDINGS — PURPOSE.
Section 41-1082 - DEFINITIONS.
Section 41-1083 - LICENSURE OF VENDORS.
Section 41-1084 - REQUIREMENTS FOR SALE OF PORTABLE ELECTRONICS INSURANCE.
Section 41-1085 - AUTHORITY OF VENDORS OF PORTABLE ELECTRONICS.
Section 41-1086 - RESPONSIBILITY FOR ACTIONS OF OTHERS.
Section 41-1087 - SUSPENSION OR REVOCATION OF LICENSE.
Section 41-1088 - TERMINATION OF PORTABLE ELECTRONICS INSURANCE.
Section 41-1089 - APPLICATION FOR LICENSE AND FEES.
Section 41-1090 - SHORT TITLE.
Section 41-1091 - DEFINITIONS.
Section 41-1092 - REQUIREMENTS FOR LIMITED LINES TRAVEL INSURANCE PRODUCERS.
Section 41-1093 - REGISTRATION REQUIRED.
Section 41-1094 - TYPE OF POLICY.
Section 41-1095 - RESPONSIBILITY OF LIMITED LINES TRAVEL INSURANCE PRODUCERS.