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General Assembly Raised Bill No. 6393
January Session, 2021
LCO No. 2693
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)
AN ACT CONCERNING TH E INSURANCE DEPARTME NT'S
RECOMMENDATIONS REGA RDING SURETY 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repealed and the following is substituted in lieu thereof (Effective October 2
1, 2021): 3
(k) (1) (A) To further the enforcement of this section and sections 38a-4
660b to 38a-660m, inclusive, as amended by this act, and to determine 5
the eligibility of any licensee, the commissioner may, as often as the 6
commissioner deems necessary, examine the books and records of any 7
such licensee. Each person licensed as a surety bail bond agent in this 8
state shall, on or before January thirty-first, annually, pay to the 9
commissioner a fee of four hundred fifty dollars to cover the cost of 10
examinations under this subsection. 11
(B) If such person fails to pay such fee on or before January thirty-12
first, annually, the license of such person shall automatically expire on 13
the February first immediately following, provided the commissioner 14
shall immediately reinstate any such license if the commissioner 15 Raised Bill No. 6393
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receives such fee not later than ten days after such expiration. 16
(C) The commissioner shall notify, not later than December fifteenth, 17
annually, each person licensed as a surety bail bond agent in this state 18
about such automatic expiration provision. 19
(2) The fees received by the commissioner pursuant to subdivision (1) 20
of this subsection shall be dedicated to conducting the examinations 21
under said subdivision (1) and shall be deposited in the account 22
established under subdivision (3) of this subsection. 23
(3) There is established an account to be known as the "surety bail 24
bond agent examination account", which shall be a separate account 25
within the Insurance Fund established under section 38a-52a. The 26
account shall contain any moneys required by law to be deposited in the 27
account and any such moneys remaining in the account at the [close of 28
the fiscal] end of each calendar year shall be transferred to the General 29
Fund. 30
Sec. 2. Section 38a-660m of the general statutes is repealed and the 31
following is substituted in lieu thereof (Effective October 1, 2021): 32
The commissioner may adopt regulations, in accordance with the 33
provisions of chapter 54, to (1) implement the provisions of section 38a-34
660, as amended by this act, and sections 38a-660b to 38a-660k, inclusive, 35
and (2) establish continuing education requirements for persons 36
licensed as surety bail bond agents in this state.37
This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2021 38a-660(k)
Sec. 2 October 1, 2021 38a-660m
Statement of Purpose:
To: (1) Automatically cancel a surety bail bond agent's license if the
agent does not pay an annual examination fee; (2) reschedule an annual
transfer to the General Fund from the surety bail bond agent Raised Bill No. 6393
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examination account; and (3) authorize the Insurance 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.]