§ 10-301
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/md/insurance/10-301A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–301.
(a)In this subtitle the following words have the meanings indicated.
(b)“Bail bond” means a written obligation of a defendant, with or without a surety or collateral security, that:
(1)is conditioned on the appearance of the defendant as required; and
(2)provides for the payment of a penal sum according to its terms.
(c)“Bail bondsman” means an authorized insurance producer of a surety insurer.
(d)“Collateral security” means any property deposited, pledged, or encumbered to secure the performance of a bail bond.
(e)“License” means a license issued by the Commissioner to provide bail bondsman services.
(f)“Provide bail bondsman services” means to provide any service in the bail bondsman trade.
(1)“Surety” means a person, other than the defendant, that guarantees the appearance of the defendant by executing a bail bond.
(2)“Surety” includes an uncompensated or accommodation surety.
(h)“Surety insurer” means a person that, for compensation, directly or through an authorized insurance producer, acts as a surety on a bail bond.