Any person who is held in custody or committed upon a criminal charge, if entitled to be released on bail, may at any time, instead of giving surety or sureties, in the discretion of the court, give before the court in which he or she is held to appear his or her personal recognizance to appear and do as ordered by the court, and shall be allowed to deposit, either individually or by another on his or her behalf, with the court in money ten percent (10%) of the amount of bail which he or she is ordered to furnish, and the justice or clerk of the court shall give him or her a certificate, and upon delivery of the certificate to the officer in whose custody he or she is shall be released from custody, and the money shall be deposited in the registry of the court before which the person shall be recognized to appear. Consistent with Article 1, § 9 of the Rhode Island Constitution, the giving of surety, or in the alternative the deposit with the court of ten percent (10%) of the amount of bail set, shall be the sole monetary conditions of the release on bail, except as set forth herein. No court shall require the deposit of cash as the sole monetary condition of the release on bail, except in those cases where the defendant owes court-imposed restitution. Upon the default of the defendant, the court before which he or she is recognized to appear may, at any time thereafter, order the money deposited in the registry of the court be forfeited, subject to the provisions of §§ 12-13-16, 12-13-16.1 and 12-13-16.2, and the money shall be paid to the general treasurer. If money has been deposited and the defendant at any time before forfeiture shall appear before the court to which he or she was recognized to appear, and shall surrender himself or herself, or shall recognize before the court with sufficient surety or sureties, in such an amount, to appear and do as the court may order, or be in any manner legally discharged, then the court shall order the return of the deposit to the defendant. If the money remains on deposit at the time of a judgment ordering the payment of restitution or any assessment made pursuant to § 12-25-28 that has not been waived by the court, the clerk must apply the money in satisfaction of the judgment’s restitution order or assessment and after satisfying the order or assessment must refund the money surplus, if any, to the defendant or to the individual who posted the money on behalf of the defendant, as the case may be.