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Oklahoma House Bill HB1708

Oklahoma 2025 Regular Session

Oklahoma House Bill HB1708 Compare Versions

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2828 STATE OF OKLAHOMA
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3030 1st Session of the 60th Legislature (2025)
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3232 HOUSE BILL 1708 By: Worthen
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3838 AS INTRODUCED
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4040 An Act relating to professions and occupations;
4141 amending 59 O.S. 2021, Section 1301, which relates
4242 bail bondsman definitions; adding cer tain terms;
4343 adding a definition; amending 59 O.S. 2021, Section
4444 1306, which relates to cash bondsman; adding terms;
4545 and providing an effective date.
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5252 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
5353 SECTION 1. AMENDATORY 59 O.S. 2021, Section 1301, is
5454 amended to read as follows:
5555 Section 1301. A. Sections 1301 through 1341 of this title
5656 shall only apply to the regulation of bail bonds and cash bail
5757 including charitable cash bail for crimes, the punishment of which
5858 may be in excess of Twenty Dollars ($20.00) fine or twenty (20) days
5959 in jail, or both such fine and imprisonment.
6060 B. As used in Sections 1301 through 1341 of this title:
6161 1. "Commissioner" means the Insurance Commissioner of the State
6262 of Oklahoma;
6363 2. "Clerk" means the district or municipal court clerk;
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9090 3. "Insurer" means any domestic, foreign or alien surety
9191 company which has qualified generally to transact surety business
9292 and specifically to transact bail bond business in this state and
9393 any professional bondsman or multicounty agent bondsman;
9494 4. "Bail bondsman" means a surety bondsman, professional
9595 bondsman, multicounty agent bondsman, property bondsman, or a cash
9696 bondsman as hereinafter defined;
9797 5. "Surety bondsman" means any person who has been appr oved by
9898 the Commissioner and appointed by an insurer by power of attorney to
9999 execute or countersign bail bonds for the insurer in connection with
100100 judicial proceedings and charges and receives money for his or her
101101 services;
102102 6. "Managing general agent " (M.G.A.) means any person acting in
103103 the capacity of supervisor or manager over a licensed bondsman, who
104104 has been granted the authority or responsibility by an insurer to
105105 conduct surety business on its behalf, and to oversee the activities
106106 and conduct of the ap pointed licensed bondsman agents of the
107107 insurer, and who generally functions a s an intermediate manager
108108 between the insurer and its licensed bondsman agents. A managing
109109 general agent fulfilling these functions shall be a natural person,
110110 shall meet the qualifications of paragraph 5 of this subsection and
111111 shall be licensed as a bondsman;
112112 7. "Professional bondsman " means any person who has been
113113 approved by the Commissioner and who pledges cash as security for a
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140140 bail bond in connection with a judicial proceed ing and charges and
141141 receives money for his or her services;
142142 8. "Property bondsman" means any person who has been approved
143143 by the Commissioner and who pledges real property as security for a
144144 bail bond in a judicial proceeding and charges and receives money
145145 for his or her services;
146146 9. "Cash bondsman" means any person who has been approved by
147147 the Commissioner and who deposits cash money as security for a bail
148148 bond in a judicial proceeding and charges and receives money for his
149149 or her services;
150150 10. "Escrow deposit" means cash or valuable security deposited
151151 by an insurer to secure the face amount of forfeiture pending
152152 appeal;
153153 11. "Solicitation" means to ask for earnestly, seek to obtain
154154 by persuasion or entreaty, implore, beseech, tempt or entice a
155155 person directly or through another person by personal, mechanical,
156156 printed or published means to purchase a bail bond. Solicitation
157157 shall not include mass communication advertising, which shall
158158 include, but not be limited to, television, newspapers, magazines
159159 and billboards;
160160 12. "Bond" means an appearance bond for a specified monetary
161161 amount which is executed by the defendant and a licensed bondsman
162162 pursuant to the provisions of Section 1301 et seq. of this title and
163163 which is issued to a court clerk as security for the subsequent
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190190 court appearance of the defendant upon release from actual custody
191191 pending the appearance; and
192192 13. "Multicounty agent bondsman " means a professional bondsman
193193 who has been approved by the Commissioner and who otherwise complies
194194 with the provisions of Section 1306.1 of this title.
195195 14. "Charitable cash bondsman " means any person who has been
196196 approved by the Commissioner who deposits cash money as security for
197197 a cash bond in a judicial proceeding and does not charge nor receive
198198 any money for his or her services.
199199 SECTION 2. AMENDATORY 59 O.S. 2021, Section 1306, is
200200 amended to read as follows:
201201 Section 1306. A. 1. An applicant for a cash bondsman license
202202 or charitable cash bondsman license shall meet all requirements s et
203203 forth in Section 1305 of this title with exception of the one -year
204204 residence requirement. An applicant for a cash bondsman license
205205 shall affirmatively show that the applicant has been a bona fide
206206 resident of the state for six (6) months.
207207 2. In addition to the requirements prescribed in Section 1305
208208 of this title, an applicant for a professional bondsman license
209209 shall have been continually licensed as a surety, cash or property
210210 bondsman in the State of Oklahoma for a minimum of two (2) years
211211 immediately prior to the date of application and shall submit to the
212212 Insurance Commission er an audited financial statement prepared by an
213213 accounting firm or individual holding a permit to practice public
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240240 accounting in this state in accordance with the Statements on
241241 Auditing Standards promulgated by the Auditing Standards Board of
242242 the American Institute of Certified Public Accountants setting forth
243243 the total assets of the bondsman less liabilities and debts as
244244 follows: For all applications made prior to November 1, 20 06, and
245245 the subsequent renewals of a license issued upon the application
246246 when continuously maintained in effect as required by law, the
247247 statement shall show a net worth of at least Fifty Thousand Dollars
248248 ($50,000.00). For all applications made on and afte r November 1,
249249 2006, and the subsequent renewals of a license issued upon the
250250 application when continuously maintained in effect as required by
251251 law, or for the renewal or reinstatement of any license that is
252252 expired pursuant to subsection D of Section 1309 of this title,
253253 suspended or revoked, the statement shall show a net worth of a t
254254 least One Hundred Fifty Thousand Dollars ($150,000.00), the
255255 statements to be current as of a date not earlier than ninety (90)
256256 days prior to submission of the application and t he statement shall
257257 be attested to by an unqualified opinion of the accountant.
258258 3. Professional bondsman applicants shall make a deposit with
259259 the Insurance Commissioner in the same manner as required of
260260 domestic insurance companies of an amount to be deter mined by the
261261 Commissioner. For all applications made prior to November 1, 200 6,
262262 and the subsequent renewals of a license issued upon the application
263263 when continuously maintained in effect as required by law, the
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290290 deposit shall not be less than Twenty Thous and Dollars ($20,000.00).
291291 For all applications made on and after November 1, 2006, and the
292292 subsequent renewals of a license issued upon the application when
293293 continuously maintained in effect as required by law, or for the
294294 renewal or reinstatement of any l icense that is expired pursuant to
295295 subsection D of Section 1309 of this title, suspended or revoked,
296296 the deposit shall not be less than Fifty Thousand Dollars
297297 ($50,000.00). The deposits shall be subject to all laws, rules and
298298 regulations as deposits by do mestic insurance companies but in no
299299 instance shall a professional bondsman write bonds which equal more
300300 than ten times the amount of the deposit which the bondsman has
301301 submitted to the Commissioner. Such deposit shall require the
302302 review and approval of t he Insurance Commissioner prior to exceeding
303303 the maximum amount of Federal Dep osit Insurance Corporation basic
304304 deposit coverage for any one bank or financial institution. In
305305 addition, a professional bondsman may make the deposit by purchasing
306306 an annuity through a licensed domestic insurance company in the
307307 State of Oklahoma. The annuity shall be in the name of the bondsman
308308 as owner with legal assignment to the Insurance Commissioner. The
309309 assignment form shall be approved by the Commissioner. If a
310310 bondsman exceeds the above limitation, the bondsman shall be
311311 notified by the Commissi oner that the excess shall be reduced or the
312312 deposit increased within ten (10) days of notification, or the
313313 license of the bondsman shall be suspended immediately after the
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340340 ten-day period, pending a hearing on the matter. The limitation may
341341 be exceeded with Commissioner approval when a state of emergency or
342342 disaster is declared by the Governor, the Oklahoma Legislature or by
343343 the United States Presidential Declaration of a Federal Emergency or
344344 Major Disaster.
345345 4. The deposit provided for in this section sha ll constitute a
346346 reserve available to meet sums due on forfeiture of any bonds or
347347 recognizance executed by the bondsman.
348348 5. Any deposit made by a professional bondsman pursuant t o this
349349 section shall be released and returned by the Commissioner to the
350350 professional bondsman only upon extinguishment of all liability on
351351 outstanding bonds. Provided, however, the Commissioner shall have
352352 the authority to review specific financial circum stances and history
353353 of a professional bondsman, on a case -by-case basis, and may release
354354 a portion of the deposit if warranted. The Commissioner may
355355 promulgate rules to effectuate the provisions of this paragraph.
356356 6. No release of deposits to a professio nal bondsman shall be
357357 made by the Commissioner except upon written application and the
358358 written order of the Commissioner. The Commissioner shall have no
359359 liability for any such release to a professional bondsman provided
360360 the release was made in good faith.
361361 B. The deposit provided in this section shall be held in
362362 safekeeping by the Insurance Commissioner and shall only be used if
363363 a bondsman fails to pay an order and judgment of forfeiture after
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390390 being properly notified or shall be used if the license of a
391391 professional bondsman has been revoked. The deposit shall be held
392392 in the name of the Insurance Commissioner and the bondsman. The
393393 bondsman shall execute an assignment or pledge of the deposit to the
394394 Insurance Commissioner for the payment of unpaid bond for feitures.
395395 C. Currently licensed professional bondsmen may maintain their
396396 aggregate liability limits upon presentation of documented proof
397397 that they have previously been granted a limitation greater than the
398398 requirements of subsection A of this section.
399399 D. Notwithstanding any other provision of Sections 1301 through
400400 1341 of this title, the license of a professional bondsman is
401401 transferable upon the death or legal or physical incapacitation of
402402 the bondsman to the spouse of the bondsman, or to such other
403403 transferee as the professional bondsman may designate in writing,
404404 and the transferee may elect to act as a professional bondsman for a
405405 period of one hundred eighty (180) days if the following conditions
406406 are met:
407407 1. The transferee shall hold a valid license a s a surety
408408 bondsman in this state; and
409409 2. The asset and deposit requirements set forth in this section
410410 continue to be met.
411411 SECTION 3. This act shall become effective November 1, 2025.
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413413 60-1-10674 TKR 01/15/25