Alaska Statutes 21.18.075 – Bail bond reserve
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 21.18.075
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
In place of the unearned premium reserve required on surety bonds under Alaska Stat. § 21.18.060, the department may require a surety insurer or limited surety insurer to set up and maintain a reserve on all bail bonds or other single premium bonds without a definite expiration date, furnished in judicial proceedings, equal to 25 percent of the total consideration charged for the bonds that are outstanding as of the date of a current financial statement of the insurer.