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General Assembly Raised Bill No. 7175
January Session, 2019
LCO No. 4264
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)
AN ACT CONCERNING SU RETY BAIL BOND AGENTS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. Subsection (k) of section 38a-660 of the general statutes is 1
repealed and the following is substituted in lieu thereof (Effective 2
October 1, 2019): 3
(k) (1) (A) To further the enforcement of this section and sections 4
38a-660b to 38a-660m, inclusive, as amended by this act, and to 5
determine the eligibility of any licensee, the commissioner may [, as 6
often as the commissioner deems necessary,] examine the books and 7
records of any such licensee: (i) Not more frequently than once during 8
any three-year time period; or (ii) more frequently as the commissioner 9
deems necessary for good cause shown. Each person licensed as a 10
surety bail bond agent in this state shall, on or before January thirty-11
first, annually, pay to the commissioner a fee of four hundred fifty 12
dollars to cover the cost of examinations under this subsection. 13
(B) If such person fails to pay such fee on or before January thirty-14
first, annually, the license of such person shall automatically expire on 15 Raised Bill No. 7175
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the February first immediately following, provided the commissioner 16
shall immediately reinstate any such license if the commissioner 17
receives such fee not later than ten days after such expiration. 18
(C) The commissioner shall notify, not later than December 19
fifteenth, annually, each person licensed as a surety bail bond agent in 20
this state about such automatic expiration provision. 21
(2) The fees received by the commissioner pursuant to subdivision 22
(1) of this subsection shall be dedicated to conducting the examinations 23
under said subdivision (1) and shall be deposited in the account 24
established under subdivision (3) of this subsection. 25
(3) There is established an account to be known as the "surety bail 26
bond agent examination account", which shall be a separate account 27
within the Insurance Fund established under section 38a-52a. The 28
account shall contain any moneys required by law to be deposited in 29
the account and any such moneys remaining in the account at the 30
[close of the fiscal] end of each calendar year shall be transferred to the 31
General Fund. 32
Sec. 2. Section 38a-660m of the general statutes is repealed and the 33
following is substituted in lieu thereof (Effective October 1, 2019): 34
The commissioner may adopt regulations, in accordance with the 35
provisions of chapter 54, to (1) implement the provisions of section 36
38a-660, as amended by this act, and sections 38a-660b to 38a-660k, 37
inclusive, and (2) establish continuing education requirements for 38
persons licensed as surety bail bond agents in this state. 39
This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2019 38a-660(k)
Sec. 2 October 1, 2019 38a-660m
Raised Bill No. 7175
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Statement of Purpose:
To (1) restrict how frequently the Insurance Commissioner may
examine a surety bail bond agent's books and records, (2)
automatically cancel a surety bail bond agent's license if the agent does
not pay an annual examination fee, (3) reschedule an annual transfer
concerning the surety bail bond agent examination account, and (4)
authorize the commissioner to adopt regulations concerning
continuing education requirements for surety bail bond agents.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline,
except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is
not underlined.]