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Title 3 . Commerce, Community, and Economic Development
Chapter 23 . Miscellaneous
Section 859. Definitions

3 AAC 23.859. Definitions

As used in 3 AAC 23.745 - 3 AAC 23.859,

(1) "bail" means property that is deposited with a judicial officer to secure or continue the release from custody of the defendant in a judicial proceeding;"bail" includes a bail bond, a bail bond transaction, and any pledge or deposit of collateral;

(2) "bail bond limited producer" means a person who is licensed under AS 21.27.150 to transact surety or limited surety, and who is appointed by an authorized insurer to transact, execute or countersign bail bond transactions in connection with judicial proceedings in return for money or other things of value;

(3) "collateral" means additional security given to assure the performance of the defendant's obligation;

(4) "defendant" means the individual whose performance is guaranteed by the execution of a bail bond; and

(5) "fiduciary capacity" means the duty of a licensee and surety to receive and maintain collateral with fairness and good faith as custodian of the collateral;

(6) "licensee" means a bail bond limited producer licensed under AS 21.27.150 ;

(7) "limited surety" means insurance as defined in AS 21.12.080 (2);

(8) "surety" means an authorized insurer as defined by AS 21.90.900 (4).

History: Eff. 12/18/92, Register 124

Authority: AS 21.06.090

AS 21.27.010

AS 21.27.150

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Last modified 7/05/2006