No. 27644: R590-196. Bail Bond Surety Fee Standards, Collateral Standards, and Disclosure Form

DAR File No.: 27644
Filed: 01/07/2005, 10:50
Received by: NL

 

NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

This rule is authorized by Section 31A-35-104 of the Insurance Code. This section authorizes the commissioner to write rules establishing specific licensure and certification guidelines and standards of conduct for the business of surety bail bond insurance. The rule provides guidelines for fee and collateral standards to be used in the bail bond business along with a disclosure form that must be used by a bail bond agent when charging fees and receiving collateral.

 

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

No written comment has been received in the past five years.

 

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

It is important that this rule remain in effect to avoid price gouging and the charging of fees without some form of disclosure to the consumer. Therefore, this rule should be continued.

 

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Insurance
Administration
Room 3110 STATE OFFICE BLDG
450 N MAIN ST
SALT LAKE CITY UT 84114-1201

 

Direct questions regarding this rule to:

Jilene Whitby at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at [e-mail]

 

Authorized by:

Jilene Whitby, Information Specialist