Licensing Requirements for Agents. [27-10-3-3]

1. Bail Agent’s License. Licenses can only be issued to individuals [27-10-3-1 (b) (2)] not to a firm, corporation, or association [27-10-3-1 (c)]. Applicant must meet the following requirements:

• at least 18 and of good moral character [27-10-3-3 (a) (1)],
• never convicted of a disqualifying offense as set out in [IC 25-1-1.1] and 10 years having lapsed after a felony conviction, and 5 years after a misdemeanor [27-10-3-3 (a) (2)],
• has knowledge of or instruction in the bail bond business or has held a valid all lines fire and casualty license for 1 year within the last 5, or has been employed by a bail bond company for 1 year of the last 5 [27-10-3-3 (a) (3)],
• be a resident of Indiana for 1 year from date of application (waivable) [27-10-3-3 (b)],
• pay license fee ($650) and examination fee ($100) [27-10-3-4 (a)] , submit fingerprints (certified by law enforcement) and photo [27-10-3-4 (b)],
• take and pass in person a written examination prepared by the commissioner [27-10-3-6].

2. The regulatory body is the Department of Insurance (DOI) [27-10-2-1]

This state has been adversely impacted by the 10% deposit release option (Posting 10% of the bond, in cash, directly with the court).  Approximately forty percent of Indiana counties accept 10% deposit bonds exclusively.

 

Filed Rates (Premium must be charged in accordance with PSC -S3GA filed rates for this state.)

Premium Rate:  10%

Minimum Premium: $50

Federal Rate:  10%

Department of Insurance

Collateral -Mortgage
State Surrender Time - 365 days
Remission – Not Applicable

State Fees Per Bond - $5.00 per bond

(must be added to price quote)