SB164 Alabama 2011 Session

Updated Jul 26, 2021

Summary

Primary Sponsor: Cam Ward
Republican
Session: Regular Session 2011
Title: Criminal bail bonds, bondsmen and professional surety companies, requirements increased, Secs. 15-13-22, 15-13-159 am'd.
Description: Under existing law, a bondsman, except a corporation qualified to do a bonding business in this state, is required to furnish a bond with corporate surety in the amount of $25,000 ($10,000 for Cullman County).
This bill would require a bondsman, except a corporation qualified to do a bonding business in this state, to furnish a bond with corporate surety in the amount of $50,000.
This bill would also require a bondsman, except a corporation qualified to do a bonding business in this state, and a professional surety company to place in escrow, in a federally insured, interest bearing account, five percent of the total outstanding liability in excess of $500,000, up to a maximum escrowed amount of $200,000, and file a liability report with the circuit clerk of each county in which the person does business setting forth the amount of outstanding liability and a statement setting forth the escrowed amount.
Subjects: Crimes and Offenses

Read for the first time and referred to the Senate committee on Governmental Affairs