Bail bondsman | Questions With 100 % Correct Answers | Verified

Bail bondsman Bail - ✔✔Security required (monetary amount) for the release of a person from jail Bond - ✔✔Obligation for the amount of bail by the person who signs the bond Accommodation bondsman - ✔✔Not a licensed bail bondsman but uses value or property to get someo ne out of jail. THis person can not take money Bail bond - ✔✔Undertaking by the principal to appear in court as required upon penalty of forfeiting bail to the state in a stated amount What are the ways a person can promise to be in court - ✔✔Unsecured b ond Premium secured Cash deposit -full amount of the bond` Mortgage Least one solvent surety - 2 or more persons can combine incomes Insurer - ✔✔Any domestic, foreign, or alien surety company which has qualified generally to transact bail bond business in t his state Obliged - ✔✔Principal or surety on a bail bond Principal - ✔✔Defendant or witness obligated to appear in court Resident - ✔✔Who lives in the state for 6 consecutive months Runner - ✔✔A person employed by a professional bondsman for the purpos e of assisting the bail bondsman in presenting the defendant in court or executing bonds on behalf of the licensed bondsman when the power of attorney has been recorded. Surety - ✔✔One who with the principal is liable for the amount of the bail bond upon forfeiture of the bail. Collateral - ✔✔Something else the bondsman holds besides the 15% premium What is the purpose of collateral - ✔✔Protect the bondsman from loss in the event of a forfeiture What are types of collateral - ✔✔Money or negotiable instrument Personal property, cars, etc (moveable) Real property, houses, buildings (nonmoveable) Indemnity agreements, a civil contract basically a promissory note How much c ollateral can a bondsman take - ✔✔Up to 100% of the bond Where must collateral be stored - ✔✔trust account in NC bank Separate from personal or business account Trust account funds shall be funds collected as collateral on bail bonds only The trust accoun t funds are not to be commingled with other funds The collateral funds must be deposited in trust account within 2 banking days after receipt How is property collateral stored - ✔✔Bondsman is liable for any damages Must be returned in the same condition Bondsman using collateral other than paying forfeiture may be held civil and criminally liable How should collateral be returned - ✔✔In the same condition it was received in. WIthin 15 days. Failure to return collateral can lead to revoked license Failur e to return collateral in excess of $1500 can lead to criminal charges How long does the surety have to return the principal - ✔✔150 days What are the reasons to have a forfeiture set aside - ✔✔1)FTA been set aside by the court and order for arrest has been recalled 2) charges for which the defendant has bonded have been disposed by the court other than the dismissal with leave. 3)defendant has been surrendered by surety 4)Def. served with order for arrest for the FTA 5) def. died 6)Def. is incarcerated in NC or U.S. Where do the three copies of the bond forfeiture notice get copied to - ✔✔School board attorney, D.A., Clerk of court What is needed to file a forfeiture of bond - ✔✔Motion and Certificate of service How many motions is allowed within the 150 days - ✔✔1 Anytime before the expiration of 150 days, the defendant, surety, professional bondsman, runner for a professional bondsman, or surety bondsman for an insurance company may make a ______ ______ that the forfeiture to be set aside - ✔✔Written motion What happens after you file a motion for a forfeiture to be set aside - ✔✔If the DA, school board attorney objects to the motion, t here will be a hearing within 30 days afterthought objection is filed where the defendant was bonded to appear. The court will not set aside a forfeiture if a bondsman signs a bond for a defendant - ✔✔Who has already failed to appear twice in the case for which he was charged and the bondsman had actual notice of the defendants prior failures to appear