31A-35-102 - Definitions.
31A-35-102. Definitions.
As used in this chapter:
(1) "Bail bond" means a bond for a specified monetary amount that is:
(a) executed by a bail bond producer licensed in accordance with Section 31A-35-401;and
(b) issued to a court, magistrate, or authorized officer as security for the subsequent courtappearance of the defendant upon the defendant's release from actual custody pending theappearance.
(2) "Bail bond producer" means an individual who:
(a) is appointed by:
(i) a surety insurer that issues bail bonds; or
(ii) a bail bond surety company licensed under this chapter;
(b) is appointed to execute or countersign undertakings of bail in connection with judicialproceedings; and
(c) receives or is promised money or other things of value for engaging in an actdescribed in Subsection (2)(b).
(3) "Bail bond surety" means a person that:
(a) (i) is a bail bond surety company licensed under this chapter; or
(ii) a surety insurer; and
(b) issues bonds to secure:
(i) the release of a person from incarceration; and
(ii) the appearance of that person at court hearings.
(4) "Bail bond surety company" means any sole proprietor or entity who:
(a) (i) is the agent of a surety insurer that issues a bail bond in connection with judicialproceedings;
(ii) pledges the assets of a letter of credit from a Utah depository institution for a bailbond in connection with judicial proceedings; or
(iii) pledges personal or real property, or both, as security for a bail bond in connectionwith judicial proceedings; and
(b) receives or is promised money or other things of value for a service described inSubsection (4)(a).
(5) "Bail enforcement agent" means an individual who:
(a) is employed or contracted with to:
(i) enforce the terms and conditions of a defendant's release on bail in a civil or criminalproceeding;
(ii) apprehend a defendant or surrender a defendant to custody; or
(iii) both Subsections (5)(a)(i) and (ii); and
(b) receives or is promised money or other things of value for the services described inSubsection (5)(a).
(6) "Board" means the Bail Bond Surety Oversight Board created in Section 31A-35-201.
(7) "Certificate" means a certificate of authority issued under this chapter to allow aninsurer to operate as a surety insurer.
(8) "Indemnitor" means an entity or natural person who enters into an agreement with abail bond surety to hold the bail bond surety harmless from loss incurred as a result of executinga bail bond.
(9) "Liquid assets" means financial holdings that can be converted into cash in a timelymanner without the loss of principal.
(10) "Principal" means an individual or corporation whose performance is guaranteed bybond.
(11) "Surety insurer" means an insurer that:
(a) is licensed under Chapter 4, 5, or 14;
(b) receives a certificate under this title; and
(c) issues bail bonds.
(12) "Utah depository institution" is a depository institution, as defined in Section7-1-103, that:
(a) has Utah as its home state; or
(b) operates a branch in Utah.
Amended by Chapter 298, 2003 General Session