N.Y. Insurance Law 6803 – Bail bond business; cities in excess of one hundred seventy-five thousand
§ 6803. Bail bond business; cities in excess of one hundred seventy-five thousand. (a) An insurance corporation or charitable bail organization engaged in the bail business in a city containing a population of more than one hundred seventy-five thousand inhabitants, according to the last preceding federal census or state enumeration, shall file with the district attorney of each county contained in such city or in which such a city is contained, the clerks of the supreme and county courts and the clerk of the criminal court of the city of New York, certified statements of the names of all persons authorized to execute bail bonds or effectuating such deposit on its behalf or to solicit such business as agent, together with a certificate duly executed by the superintendent, certifying with respect to each such person, that such person has been licensed by the superintendent pursuant to section six thousand eight hundred two of this article.
Terms Used In N.Y. Insurance Law 6803
- 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.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Oath: A promise to tell the truth.
(b) The court or other public officer concerned in the matter may examine under oath any insurer or charitable bail organization doing a bail business or a depositor of security for bail, or the officer or agent of any such insurer, charitable bail organization or depositor proposing to execute a bail bond, or to make such deposit, as to the indemnity, if any, deposited or otherwise provided directly or indirectly against loss by reason of the deposit or bail bond and as to the fee charged, if any, for the giving of such bond. The court or other public officer concerned in the matter may refuse to accept such bond or deposit if satisfied that any portion of such security has been feloniously obtained by the defendant, or that the provisions of this or any other section of law have been violated, or that the person or persons indemnifying such insurer or depositor shall have within a period of one month prior thereto given indemnification or security for like purpose in more than two cases not arising out of the same transaction and that such person is not duly licensed by the superintendent in accordance with the provisions of this chapter.