Requirement for license or certificate of authority -- Process -- Fees -- Limitations

(1) (a) A person may not engage in the bail bond insurance business unless that person: (i) is a bail bond agency licensed under this chapter; (ii) is a surety insurer that is granted a certificate under this section in the same manner as other insurers doing business in this state are granted certificates of authority under this title; or (iii) is a bail bond producer licensed in accordance with this section. (b) A bail bond agency shall be licensed under this chapter as an agency. (c) A bail bond producer shall be licensed under Chapter 23a, Insurance Marketing - Licensing Producers, Consultants, and Reinsurance Intermediaries, as a limited lines producer. (2) A person applying for a bail bond agency license under this chapter shall submit to the commissioner: (a) a completed application form as prescribed by the commissioner; (b) a fee as determined by the commissioner in accordance with Section 31A-3-103; and (c) any additional information required by rule. (3) A fee required under this section is not refundable. (4) A fee collected from a bail bond agency shall be deposited into a restricted account created in Section 31A-35-407. (5) (a) A bail bond agency shall be domiciled in Utah. (b) A bail bond producer shall be a resident of Utah. (c) A foreign surety insurer that is granted a certificate to sell bail bonds may only sell bail bonds through a bail bond agency licensed under this chapter.