58-71-122. Transfer of business by bail bondsman.
A licensed professional bondsman may contract to transfer, convey, or assign the professional bondsman's business to another professional bondsman licensed under this Article. The contract shall include a list of the transferring professional bondsman's pending outstanding bail bond obligations and shall be filed with the Commissioner. The contract shall allow for the transferring professional bondsman to transfer, convey, or assign assets to the purchasing professional bondsman that include, but are not limited to, any pledged cash or any pledged approved securities with the Commissioner as security for bail bonds. Notwithstanding the filing of the contract with the Commissioner, the transferor remains responsible for all outstanding bond obligations until relieved from an individual obligation pursuant to G.S. 15A-534(h), by a substitution of surety pursuant to G.S. 15A-538, or satisfaction of any final judgment of forfeiture entered thereon. (2011-377, s. 5.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 71 - Bail Bondsmen and Runners.
§ 58-71-15 - Qualifications of sureties on bail.
§ 58-71-16 - No return of premium; bond reduction.
§ 58-71-20 - Surrender of defendant by surety; when premium need not be returned.
§ 58-71-25 - Procedure for surrender.
§ 58-71-30 - Arrest of defendant for purpose of surrender.
§ 58-71-35 - Forfeiture of bail.
§ 58-71-40 - Bail bondsmen and runners to be qualified and licensed; license applications generally.
§ 58-71-41 - First-year licensees; limitations.
§ 58-71-45 - Terms of licenses.
§ 58-71-50 - Qualification for bail bondsmen and runners.
§ 58-71-51 - Criminal history record checks.
§ 58-71-65 - Contents of application for runner's license; endorsement by professional bondsman.
§ 58-71-70 - Examination; fees.
§ 58-71-71 - Examination; educational requirements; penalties.
§ 58-71-72 - Qualifications of instructors.
§ 58-71-75 - License renewal; criminal history record checks; renewal fees.
§ 58-71-80 - Grounds for denial, suspension, probation, revocation, or nonrenewal of licenses.
§ 58-71-81 - Notice of receivership.
§ 58-71-82 - Dual license holding.
§ 58-71-85 - License sanction and denial procedures.
§ 58-71-95 - Prohibited practices.
§ 58-71-100 - Receipts for collateral; trust accounts.
§ 58-71-105 - Persons prohibited from becoming surety or runners.
§ 58-71-120 - Bail bondsman to give notice of discontinuance of business; cancellation of license.
§ 58-71-121 - Death, incapacitation, or incompetence of a bail bondsman.
§ 58-71-122 - Transfer of business by bail bondsman.
§ 58-71-130 - Substituting bail by sureties for deposit.
§ 58-71-140 - Registration of licenses and power of appointments by insurers.
§ 58-71-141 - Appointment of bail bondsmen; affidavit required.
§ 58-71-145 - Financial responsibility of professional bondsmen.
§ 58-71-151 - Securities held in trust by Commissioner; authority to dispose of same.
§ 58-71-155 - Bondsman to furnish power of attorney with securities.
§ 58-71-160 - Security deposit to be maintained.
§ 58-71-165 - Report required.
§ 58-71-167 - Portion of bond premium payments deferred.
§ 58-71-168 - Records to be maintained.
§ 58-71-175 - Limit on principal amount of bond to be written by professional bondsman.
§ 58-71-180 - Disposition of fees.
§ 58-71-185 - Penalties for violations.
§ 58-71-190 - Duplication of regulation forbidden.
§ 58-71-195 - Conflicting laws.
§ 58-71-200 - Bondsman access to criminal and civil records.