FY 2016 Appropriation

The Insurance Department regulates the bail bond surety industry and bail bond agents operating in Utah (Title 31A-35). It ensures that all bail bond sureties and bail bond agents demonstrate adequate preparation, competency, and practice honesty and integrity. The department ensures that Utah has a strong bail bond surety insurance market that actively supports the needs of the citizens, judiciary, and law enforcement organizations for reliable bail bond sureties, bail bond agents, and bail bonds at competitive prices. Assistance is provided to the public through information and education. The department investigates and prosecutes unprofessional conduct by bail bond sureties or bail bond agents. Staff is provided to the Bail Bond Surety Oversight Board which reviews new licensing applications and reviews complaints. The program is funded from the Bail Bond Surety Administration Restricted Account.

Funding History
Appropriation Overview

During the 2015 General Session, the Legislature appropriated for Fiscal Year 2016, $24,300 from all sources for Bail Bond Program. This is a 3.4 percent increase from Fiscal Year 2015 revised estimated amounts from all sources.

Funding for the Bail Bond program is used for staff support who help assess annual fees on bail bond companies and also impose fines for businesses not in compliance with Utah law. These fees and fines are collected to the Bail Bond Surety Administration Account.

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COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.