Delaware Code Title 18 Sec. 4333B – Additional application requirements for property bail agents
(a) In addition to the requirements of § 4333 of this title, every applicant for a property bail agent license shall file with the Commissioner a statement under oath of the assets and liabilities of the applicant.
Terms Used In Delaware Code Title 18 Sec. 4333B
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Oath: A promise to tell the truth.
- Oath: includes affirmation in all cases where an affirmation may be substituted for an oath, and "sworn" includes affirmed; and the forms shall be varied accordingly. See Delaware Code Title 1 Sec. 302
(b) A property bail agent and bail agent business entity shall have a continuing duty to all of the following:
(1) To advise the Commissioner in writing under oath of any material change in such property bail agent’s or bail agent business entity’s assets or liabilities affecting such property bail agent’s or bail agent business entity’s responsibility as a property bail agent or bail agent business entity.
(2) At any time, upon request of the Commissioner, to furnish the Commissioner with a statement under oath of such property bail agent’s or bail agent business entity’s assets and liabilities, including all bail bonds on which such property bail agent or bail agent business entity is obligated. The Commissioner may request, and the property bail agent or bail agent or business entity shall provide, financial statements and balance sheets, in the form requested by the Commissioner, bank statements and any other information requested by the Commissioner to allow the Commissioner to review the business operations of the bail agent or bail agent business entity.
(c) The applicant shall file with his or her application for licensure all rates and other charges proposed for use in writing bail bonds. Such rating plan must be approved by the Commissioner prior to issuance of the license. No rate or other charge may be imposed in connection with the property bail agent’s business, unless it has been approved in advance by the Commissioner.
79 Del. Laws, c. 177, § ?1; 70 Del. Laws, c. 186, § ?1; 83 Del. Laws, c. 183, § 3;