Copyright © 2012 Surety 3: Designed By R. Dowston

Licensing Requirements for Agents.

In Maryland, each bail bondsmen must obtain a certificate of qualification to act as a property and casualty insurance agent, and obtain an appointment from an insurer licensed to conduct the business of surety in Maryland. The bail bondsman as a licensed insurance agent is subject to the entire Insurance article in the ACM. Bail bondsmen who pledge property instead of surety are under the jurisdiction of the District Court of Maryland, and are defined by COMAR as “property bondsmen.”

1. An individual must obtain a license before providing bail bond services in Maryland. The license is identical to a certificate of qualification [ACM 1-304(a)(b)].
2. An applicant must meet the requirements for acting as a property and casualty agent or broker [ACM 1-305].
3. Qualifications of Individual Applicants [ACM 10-104].

• Be of good character and trustworthy,
• Have some knowledge of bail insurance,
• For three years preceding application, have at least one year as an employee of a bail agent/insurer,
• Pass the examination given by the Commissioner.
• Under certain conditions the above can be waived by the Commissioner.

Maryland has a ninety day forfeiture period. Ninety day extensions are regularly approved when filed timely.  Maryland also has the most liberal remission period in the country at ten years.  Prince George County does have a 1% tax on penal liability (bond amount) for each bond posted.

 

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

Premium Rate:  2% / 8%

Minimum Premium:  none

Federal Rate:  10%

Department of Insurance

Collateral - Deed of Trust Form
State Surrender Time - 90 days
Remission – 10 year remission

State Fees Per Bond - Not Applicable