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FL
237123
5-Hour Law and Ethics Update - Bail Bonds - CE5-237
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REGULATORY AWARENESS
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Licensing Requirements
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[<font face = "Times New Roman" size = "3">] [<i>] [<b>]69B-221.075 Power of Attorney; Penal Sum of Bond; Not Applicable to Automobile Clubs[</b>] (1) Section 903.09, F.S., is interpreted to mean that every licensed limited surety agent must attach to each bond a duly executed power of attorney in an amount of at least the penal sum of the bond. This section shall not apply to any card or certificate of membership of an automobile club or association qualified under Section 627.758, F.S., relating to Guaranteed Arrest Bond Certificates, Bail Bond Certificates, or Powers of Attorney for Bail Bonds sold by licensed surety companies to recognized automobile clubs or associations. [<p />] (2) The Department shall approve the power of attorney form of an insurer to accompany an appearance bond posted at the jail that includes the following: [<p />] (a) The full name and address of the surety company issuing the power. [<p />] (b) A number that will be unique to each power issued. [<p />] (c) The maximum amount the power may be written. [<p />] (d) The date the power will become void. [<p />] (e) Sections that allow for the following information to be entered on each power: [<p />] 1. Amount of the bail bond. [<p />] 2. Name of the defendant. [<p />] 3. Name of the court. [<p />] 4. Case number. [<p />] 5. Executing bail bond agent’s name. [<p />] (f) If the form contains multiple copies, then the number of pages or copies to be a part of the form and the identity of each party to receive a part of the form. Examples include: defendant, court, clerk, insurer, bail bond agent. [<p />] (g) The limitations of the power. [<p />] (h) A company statement appointing the licensed bail bond agent as attorney-in-fact for the insurer. [<p />] (i) A signature statement from an official of the insurer. An example of an acceptable signature statement would be: [<p />] (j) Corporate seal of the insurer. [<p />] (3) The Department shall approve the qualifying power of attorney form of an insurer used to register a bail bond agent with the clerk of the court in Florida that includes the following: [<p />] (a) The full name and address of the surety company issuing the qualifying power of attorney, as shown on the records of the Office of Insurance Regulation. [<p />] (b) The name of the licensed bail bond agent being appointed to represent the surety company on the form. [<p />] (c) The name and location of the court where the qualiflying power of attorney is being filed. [<p />] (d) A unique number that will be assigned to each qualifying power of attorney form issued by the company. [<p />] (e) The maximum amount the named bail bond agent may issue a bail bond on behalf of the surety company. [<p />] (f) The date the qualifying power of attorney appointment will expire for each form executed. [<p />] (g) The form must be executed by an authorized company official who appears on the records of the Office of Insurance Regulation. [<p />] (h) The corporate seal of the surety company. [<p />] (i) A section that provides for the form to be duly notarized to allow it to be properly recorded in the county where the bail bond agent is being appointed to represent the surety company. [<p />] [</font face = "Times New Roman" size = "3">] [</i>] [<b>]Professional Bail Bond Agent[</b>][<font face = "Times New Roman" size = "3">] [<i>] [<b>]§648.35 Professional bail bond agent; qualifications.—[</b>] In addition to the qualifications prescribed in s. 648.34, to qualify as a professional bail bond agent an applicant shall: [<p />] (1) File with his or her application for licensure and with each application for renewal or continuation of his or her appointment a detailed financial statement under oath; and[<br/>] (2) File with his or her application for licensure the rating plan proposed for use in writing bail bonds. Such rating plan must be approved by the office prior to issuance of the license. [<p />] [</font face = "Times New Roman" size = "3">] [</i>] [<b>]Agency Owner[</b>] The Department of Financial Services (“DFS”) regulates the activities of all insurance professionals, including bail bond agents. A person may not own or have any control in a bail bond agency unless they are a licensed and appointed bail bond agent. The Florida statute that requires the licensing of persons in a bail bond agency is as follows: [<p />] [<font face = "Times New Roman" size = "3">] [<i>] [<b>]§648.285 Bond agency; ownership requirements.—[</b>] (1) A person may not own, control, or otherwise have a pecuniary interest in a bail bond agency unless such individual is a licensed and appointed bail bond agent. Any agency that is not in compliance with this subsection shall be subject to the issuance of an immediate final order of suspension of all operations until the agency achieves compliance.[<br/>] (2) If the owner of a bail bond agency dies or becomes mentally incapacitated, a personal representative or legal guardian may be issued a temporary permit to manage the affairs of the bail bond agency. Such person must appoint or maintain the appointment of a primary bail bond agent, as provided in s. 648.387, and may not engage in any activities as a licensed bail bond agent but must comply with s. 648.387 during the administration of the estate or guardianship. A temporary permit is valid for a maximum of 24 months.