2012 New York Consolidated Laws
ISC - Insurance
Article 68 - (6801 - 6805) BAIL BONDS
6804 - Premium or compensation.


NY Ins L § 6804 (2012) What's This?
 
    §  6804. Premium or compensation.  (a) The premium or compensation for
  giving bail bond or depositing money  or  property  as  bail  shall  not
  exceed  ten  per  centum  of the amount of such bond or deposit in cases
  where such bonds or deposits do not exceed the  sum  of  three  thousand
  dollars.  Where  such bonds or deposits exceed the sum of three thousand
  dollars, the premium shall not exceed ten per centum of the first  three
  thousand  dollars  and  eight per centum of the excess amount over three
  thousand dollars up to ten thousand dollars and six per  centum  of  the
  excess  amount  over  ten thousand dollars. In cases where the amount of
  the bond or deposit is less than two hundred dollars a  minimum  premium
  of ten dollars may be charged.
    (b) No person or corporation shall:
    (1)   charge   or   receive,   directly  or  indirectly,  any  greater
  compensation for making a deposit for bail or giving  bail,  or  act  in
  such business as aforesaid without obtaining a license, or
    (2)  accept  any  fee  or  compensation for obtaining a license or for
  obtaining a bondsman or bail bond. Such person or corporation  shall  be
  guilty  of  a misdemeanor and in addition shall in any action brought to
  recover any such overcharge be liable for treble damages.
    (c) Any member of the bar having any financial interest by which he is
  to profit from the giving of bail shall be guilty of a misdemeanor.

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