Maryland Code, INSURANCE 10-301
Terms Used In Maryland Code, INSURANCE 10-301
- 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.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
(b) “Bail bond” means a written obligation of a defendant, with or without a surety or collateral security, that:
(1) is conditioned on the appearance of the defendant as required; and
(2) provides for the payment of a penal sum according to its terms.
(c) “Bail bondsman” means an authorized insurance producer of a surety insurer.
(d) “Collateral security” means any property deposited, pledged, or encumbered to secure the performance of a bail bond.
(e) “License” means a license issued by the Commissioner to provide bail bondsman services.
(f) “Provide bail bondsman services” means to provide any service in the bail bondsman trade.
(g) (1) “Surety” means a person, other than the defendant, that guarantees the appearance of the defendant by executing a bail bond.
(2) “Surety” includes an uncompensated or accommodation surety.
(h) “Surety insurer” means a person that, for compensation, directly or through an authorized insurance producer, acts as a surety on a bail bond.