2006 Utah Code - 31A-35-401 — Requirement for license or certificate of authority -- Process -- Fees -- Limitations.

     31A-35-401.   Requirement for license or certificate of authority -- Process -- Fees -- Limitations.
     (1) (a) A person may not engage in the bail bond surety insurance business unless that person:
     (i) is a bail bond surety company licensed under this chapter;
     (ii) is a surety insurer that is granted a certificate under this section in the same manner as other insurers doing business in this state are granted certificates of authority under this title; or
     (iii) is a bail bond producer licensed in accordance with this section.
     (b) A bail bond surety company shall be licensed under this chapter as an agency.
     (c) A bail bond producer shall be licensed under Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries, as a limited lines producer.
     (2) A person applying for a bail bond surety company license under this chapter shall submit to the commissioner:
     (a) a completed application form as prescribed by the commissioner;
     (b) a fee as determined by the commissioner in accordance with Section 63-38-3.2; and
     (c) any additional information required by rule.
     (3) Fees required under this section are not refundable.
     (4) Fees collected from a bail bond surety company shall be deposited in a restricted account created in Section 31A-35-407.
     (5) (a) A bail bond surety company shall be domiciled in Utah.
     (b) A bail bond producer shall be a resident of Utah.
     (c) A foreign surety insurer that is granted a certificate to issue bail bonds may only issue bail bonds through a bail bond surety company licensed under this chapter.

Amended by Chapter 298, 2003 General Session