NC Bail Bonds|100% PASS |ALREADY GRADED A+

What are the 3 areas of bail bond law? Chapter 15A, Article 26 Chapter 58, Article 71 NC Administrative Code What NC agency is in charge of regulating bail bondsmen and runners? NC Department of Insurance 00:27 01:11 Who is the NC Commissioner of Insurance? Wayne Goodwin What persons are prohibited from becoming licensed as bail bondsmen or runners? Sheriff, Deputy Sheriff, Law enforcement officer, Attorney, Parole Officer, Probation Officer, Jailer, Assistant Jailer, Employee of the General Courts of Justice, other public employee assigned to the administration of criminal justice. *NOR THE SPOUSE OF SUCH PERSON What is the purpose of a bail bond? To assure the appearance of the defendant in court What are the consequences of a bail bond? 1) Forfeiture of bail 2) Order for arrest What is the definition of a bail bond? An undertaking by the principal to appear in court upon penalty of forfeiting bail What are the types of bail bond? 1) Unsecured 2) Premium Secured 3) Cash Deposit 4) Mortgage What can a bail bond be used for other than the release of a person from jail? Release of a motor vehicle from impoundment What are the different types of bail bondsman? 1) Accommodation bondsman 2) Surety bondsman 3) Professional bondsman What is the definition of Commissioner? The NC Commissioner of Insurance What is the definition of an obligor? A principal or surety on a bond What is the definition of a surety? One who with the principal is liable for the amount of the bail bond upon forfeiture What are the 3 types of sureties? 1) Professional Bondsman 2) Accommodation Bondsman 3) Insurer (Insurance Company) When a person is arrested, what form shows the charge, time, and location to appear in court? Conditions of release What form is the conditions of release transferred to for the release of a defendant? The Appearance bond What does the bond affidavit provide information on? Premium and Collateral What is the maximum bail bond premium that can be charged? 15% What are the only 2 things of value a bondsman can accept for posting a bond? Premium or Collateral What is collateral? Something of value to indemnify or protect the bondsman in the event of forfeiture What are the different types of collateral? 1) Money or other negotiable instrument 2) Personal Property 3) Real Property 4) Indemnity agreement How much collateral is a bondsman allowed to take for posting a bonds? 100% What is a collateral trust account? A bank account for cash collateral received on bail bonds If collateral is taken, what is required on the receipt? A full description and value of the collateral When must collateral be returned? Within 72 hours after final termination of liability on the bond What is the requirement of returning collateral other than cash? It must be returned in the same condition as requested and received by the bondsman What are the requirements for holding cash, check, or other negotiable instruments as collateral? It must be held in a trust account in a NC bank It must be held in a non interest bearing trust account It must be held separate from any other personal or business acct The trust account funds cannot be commingled with any other funds The collateral must be deposited in the trust account within 2 banking days The trust account is for funds collected as collateral on bail bonds only What must a bondsman do with collateral if bail is reduced? Collateral must be reduced to the same extent that the liability under the bonds was reduced and any excess shall be returned Written amendment with details of the modification of collateral Furnish a copy of amendment to the person furnishing collateral and the principal Keep copy of amendment on file in office of the bondsman What will a bondsman be guilty of if he or she fails to return collateral that exceeds $1,500? Class I felony What are the only 2 things a bondsman can do with collateral? Pay the bond or Give it back! What kind of contract is a bail bond? Civil contract What happens to all fines and forfeitures paid in court cases? They go support the free public schools of NC Who represents the county board of education? The school board attorney What is the time span between the date notice given and final judgement date? 150 days How many reasons does the statute allow to set aside forfeiture? 7 What are the 7 reasons to set aside forfeiture? 1) Failure to appear has been set aside by the court and any order for arrest has been recalled 2) All charges for which the defendant was bonded to appear have been disposed of 3) Defendant has been surrendered by the surety 4) Defendant has been served with an OFA 5) Defendant died before the final judgement date 6) The defendant was incarcerated in a unit of the Department of Corrections and serving a sentence at the time of the FTA 7) The defendant was incarcerated in a local, state, or federal detention center at the time of FTA