6.6.6005    PORTION OF BOND PREMIUM PAYMENTS DEFERRED

(1) If an agreement between the principal and surety bail insurance producer calls for some portion of the bond premium payments to be deferred or paid after the principal is released from custody, the surety bail insurance producer shall keep the agreement on file and provide a copy to the principal and indemnitor, if applicable. The agreement must contain the following information:

(a) the amount of the premium payment deferred, or not yet paid, at the time the principal is released from custody;

(b) the method and schedule of payment to be made by the principal or indemnitor to the surety bail insurance producer, including the dates of payment and amount to be paid on each date; and

(c) the interest rate.

(2) For the agreement to be enforceable, interest and finance charges on any unpaid premium must comply with 31-1-107, MCA.

History: 33-26-108, MCA; IMP, 31-1-107, 33-18-213, 33-26-108, 46-9-403, MCA; NEW, 2021 MAR p. 410, Eff. 4/17/21.