Title 31A Chapter 35 Section 406

Insurance Code
Bail Bond Act
Section 406
Renewal and reinstatement.

            

31A-35-406.   Renewal and reinstatement.

            (1) (a) A license under this chapter expires annually on August 14. To renew its license under this chapter, on or before July 15 a bail bond surety company shall:

            (i) complete and submit a renewal application to the department; and

            (ii) pay the department the applicable renewal fee established in accordance with Section 31A-3-103.

            (b) A bail bond surety company shall renew its license under this chapter annually as established by department rule, regardless of when the license is issued.

            (2) A bail bond surety company may apply for reinstatement of an expired bail bond surety company license within one year following the expiration of the license under Subsection (1) by:

            (a) submitting the renewal application required by Subsection (1); and

            (b) paying a license reinstatement fee established in accordance with Section 31A-3-103.

            (3) If a bail bond surety company license has been expired for more than one year, the person applying for reinstatement of the bail bond surety license shall:

            (a) submit a new application form to the commissioner; and

            (b) pay the application fee established in accordance with Section 31A-3-103.

            (4) If a bail bond surety company license is suspended, the applicant may not submit an application for a bail bond surety company license until after the end of the period of suspension.

            (5) A fee collected under this section shall be deposited in the restricted account created in Section 31A-35-407.


Amended by Chapter 284, 2011 General Session