Md. Code Regs. 31.03.05.09

Current through Register Vol. 51, No. 24, December 2, 2024

Section 31.03.05.09 - Installment Agreement

A. An installment agreement shall be signed by a bail bondsman and the person who has agreed to pay the additional premium in installments.

B. The installment agreement shall be written in the form adopted under Regulation .15 of this chapter and shall contain the following information:

(1) The amount of the bail bond;

(2) The amount of the premium;

(3) The amount of the down payment;

(4) The amount of the balance owed;

(5) The total number of installment payments required to pay the balance;

(6) The amount and due date of each installment payment;

(7) The printed name and insurance producer license number of the bail bondsman executing the installment agreement;

(8) The printed name of the bail bond insurance producer firm and its insurance producer license number, if the bail bondsman is employed or otherwise engaged by a bail bond insurance producer firm; and

(9) The criminal case number for which bail was posted and the installment agreement entered.

C. The bail bondsman who signed the installment agreement shall maintain records demonstrating that the bail bondsman has taken all necessary steps to collect the amount owed.

D. Evidence that a bail bondsman has taken all necessary steps to collect the amount owed under the installment agreement may include, but is not limited to:

(1) Copies of all correspondence;

(2) Meeting logs, including the date and time the bail bondsman met with the person who signed the installment agreement;

(3) Telephone logs including the date, time, and name of the person with whom the bail bondsman communicated;

(4) Evidence that the debt has been referred to a collection agency, including the date of the referral and the name of the collection agency; and

(5) A copy of a civil court action seeking the money owed by the person who signed the installment agreement to the bail bondsman, including the filing of a writ of garnishment.

E. A bail bondsman shall provide the person signing the installment agreement a copy of the installment agreement and a receipt containing the amount of down payment made.

Md. Code Regs. 31.03.05.09

Amended effective 43:2 Md. R. 128, eff.2/1/2016; amended effective 45:3 Md. R. 158, eff. 2/12/2018