Insurance Law 6804 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 6803 Bail bond business; cities in excess of one hundred seventy-five thousand up ARTICLE 68 Bail Bonds next SECTION 6805 Charitable bail organization Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 6804 Premium or compensation Insurance (ISC) CHAPTER 28, ARTICLE 68 § 6804. Premium or compensation. (a) The premium or compensation for giving bail bond or depositing money or property as bail shall not exceed ten per centum of the amount of such bond or deposit in cases where such bonds or deposits do not exceed the sum of three thousand dollars. Where such bonds or deposits exceed the sum of three thousand dollars, the premium shall not exceed ten per centum of the first three thousand dollars and eight per centum of the excess amount over three thousand dollars up to ten thousand dollars and six per centum of the excess amount over ten thousand dollars. In cases where the amount of the bond or deposit is less than two hundred dollars a minimum premium of ten dollars may be charged. (b) No person or corporation shall: (1) charge or receive, directly or indirectly, any greater compensation for making a deposit for bail or giving bail, or act in such business as aforesaid without obtaining a license, or (2) accept any fee or compensation for obtaining a license or for obtaining a bondsman or bail bond. Such person or corporation shall be guilty of a misdemeanor and in addition shall in any action brought to recover any such overcharge be liable for treble damages. (c) Any member of the bar having any financial interest by which he is to profit from the giving of bail shall be guilty of a misdemeanor.