RCW 18.185.100
Records—Finances—Disposition of security.
(1) Every qualified agent shall keep adequate records for three years of all collateral and security received, all trust accounts required by this section, and all bail bond transactions handled by the bail bond agency, as specified by rule. The records shall be open to inspection without notice by the director or authorized representatives of the director.
(2) Every qualified agent who receives collateral or security is a fiduciary of the property and shall keep adequate records for three years of the receipt, safekeeping, and disposition of the collateral or security. Every qualified agent shall maintain a trust account in a federally insured financial institution located in this state. All moneys, including cash, checks, money orders, wire transfers, and credit card sales drafts, received as collateral or security or otherwise held for a bail bond agency's client shall be deposited in the trust account not later than the third banking day following receipt of the funds or money. A qualified agent shall not in any way encumber the corpus of the trust account or commingle any other moneys with moneys properly maintained in the trust account. Each qualified agent required to maintain a trust account shall report annually under oath to the director the account number and balance of the trust account, and the name and address of the institution that holds the trust account, and shall report to the director within ten business days whenever the trust account is changed or relocated or a new trust account is opened.
(3) Whenever a bail bond is exonerated by the court, the qualified agent shall, within five business days after written notification of exoneration, return all collateral or security to the person entitled thereto.
(4) Records of contracts for fugitive apprehension must be retained by the bail bond agent and by the bail bond recovery agent for a period of three years.
[ 2004 c 186 § 8; 1996 c 242 § 3; 1993 c 260 § 11.]
NOTES:
Legislative recognition—2004 c 186: See note following RCW 18.185.010.
Structure Revised Code of Washington
Title 18 - Businesses and Professions
Chapter 18.185 - Bail Bond Agents.
18.185.005 - Declaration, intent, construction.
18.185.015 - Cost of administration—Fees.
18.185.020 - Agent license requirements.
18.185.030 - Agency license requirements.
18.185.040 - License applications.
18.185.050 - License cards, certificates—Advertising—Notice of changes.
18.185.056 - License suspension—Electronic benefit cards.
18.185.057 - License suspension—Noncompliance with support order—Reissuance.
18.185.060 - Prelicensing training and continuing education requirements.
18.185.080 - Relation of this chapter to local regulation, taxation.
18.185.090 - Notice concerning agent's status—Forced entry—Discharge of firearm.
18.185.100 - Records—Finances—Disposition of security.
18.185.110 - Unprofessional conduct.
18.185.115 - Unprofessional conduct—Certain contracts—General power of attorney—Presumption.
18.185.120 - Director's powers.
18.185.140 - Statement of charges—Notice.
18.185.170 - Unlicensed activity—Criminal penalties.
18.185.200 - Application of Administrative Procedure Act.
18.185.210 - Application of Consumer Protection Act.
18.185.220 - Branch office—Qualified bail bond agent as manager.
18.185.230 - License required for branch office.
18.185.240 - Uniform regulation of business and professions act.
18.185.250 - Bail bond recovery agent license—Requirements.
18.185.280 - Bail bond recovery agent, generally.
18.185.290 - Out-of-state bail bond recovery agent.
18.185.300 - Bail bond recovery agent—Planned forced entry—Requirements.