Researcher: JKL Page 1 4/8/21
OLR Bill Analysis
sHB 6393
AN ACT CONCERNING THE INSURANCE DEPARTMENT'S
RECOMMENDATIONS REGARDING SURETY BAIL BOND
AGENTS.
SUMMARY
This bill makes changes to the insurance statutes relating to surety
bail bond agents. A surety bail bond agent sells bail bonds in criminal
cases through a contract with an insurer. The insurance commissioner
licenses and regulates the agents.
Specifically, the bill does the following:
1. establishes an automatic license expiration process for when a
surety bail bond agent fails to pay the required annual $450
examination fee;
2. changes when money in the surety bail bond examination
account is transferred to the General Fund at the end of the
calendar year, instead of the end of the fiscal year; and
3. authorizes the commissioner to adopt regulations establishing
continuing education requirements for surety bail bond agents.
EFFECTIVE DATE: October 1, 2021
LICENSE EXPIRATION PROCESS
Under the bill, a surety bail bond agent’s license expires on
February 1 if the agent fails to pay the required annual $450
examination fee by January 31. But if the agent pays the fee within 30
days after the expiration, the commissioner must immediately reinstate
the agent’s license. The bill requires the commissioner to notify each
agent of the expiration provision annually by December 15.
Under current law, the commissioner follows procedures under the 2021HB-06393-R000340-BA.DOCX
Researcher: JKL Page 2 4/8/21
Uniform Administrative Procedure Act when an agent fails to pay the
fee by the deadline, which allows for an extended timeframe for
adjudicating these issues.
TRANSFER OF ACCOUNT MONEY
By law, examination fees are deposited in the surety bail bond
examination account, which is an account within the Insurance Fund
that the commissioner uses to pay the costs of examining agents’ books
and records. The bill changes when money remaining in the account is
transferred to the General Fund from the end of the fiscal year to the
end of the calendar year. So, it allows him access to the money for a
longer period of time than under current law.
COMMITTEE ACTION
Insurance and Real Estate Committee
Joint Favorable Substitute
Yea 17 Nay 1 (03/22/2021)