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(a) A licensee shall maintain the following records for five years after the liability of the surety is terminated:
(1) a daily register containing the permanent record of all bail bonds and bail bond transactions executed by the licensee including the
(A) power of attorney form number;
(B) date a bail bond was executed;
(C) court in which a bail bond was posted;
(D) name of defendant;
(E) amount of a bail bond;
(F) premium charged;
(G) premium reported to the surety;
(H) collateral received;
(I) indemnity agreements;
(J) disposition of collateral; and
(K) date of disposition of each bail bond.
(2) a list of every outstanding or unpaid forfeiture and court judgment;
(3) the name of the court in which each outstanding or unpaid forfeiture and court judgment is recorded;
(4) a list of all collateral held and any current disputes or suits filed over the return of the collateral; and
(5) a separate file for each defendant for whom a bail bond has been made that includes
(A) the original application for a bail bond;
(B) a copy of the written notice of a bail bond transaction required by 3 AAC 23.770;
(C) an affidavit of receipt of collateral;
(D) a description of where the collateral is located;
(E) a receipt or release executed by each person who posted collateral that the collateral has been returned; and
(F) a copy of any indemnity agreement.
(b) Records required under this section must be open to examination by the director or the director's representative upon request. The director will, in the director's discretion, require a licensee to furnish a copy of the records required under this section. Any records not stored at the licensee's principal place of business must be made available within two working days after a request by the director or the director's representative.
(c) Records required under this section may be stored electronically or on other media equipment.
History: Eff. 12/18/92, Register 124
Authority: AS 21.06.090
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Last modified 7/05/2006