Copyright © 2012 Surety 3: Designed By R. Dowston

Licensing Requirements for Agents.

*** Minnesota’s statutes currently do not contain regulations for regarding the licensing of bail bond recovery or bail enforcement agents. The closest equivalent in the MN statutes are the following regulations for those in the “bail bond business.” ***

1. MINNESOTA STATUTES ANNOTATED GENERAL RULES OF PRACTICE FOR THE DISTRICT COURTS TITLE VIII. RULES RELATING TO CRIMINAL MATTERS RULE 702. BAIL

• (a) Approval of Bond Procurers Required. No person shall engage in the business of procuring bail bonds, either cash or surety, for persons under detention until an application is approved by a majority of the judges in the judicial district. The application form shall be obtained from the court administrator. The completed application shall then be filed with the administrator stating the information requested and shall be accompanied by verification that the applicant is licensed as an insurance agent by the Minnesota Department of Commerce. The approval granted under this rule may be revoked or suspended by the chief judge of the judicial district or the chief judge’s designee and such revocation or suspension shall apply throughout the State ofMinnesota.

With a ninety day forfeiture period, forfeitures must be paid timely or the surety bail bonds will be suspended from writing bonds for a period of ninety days.

Filed Rates (Premium must be charged in accordance with PSC -S3GA filed rates for this state.)

Premium Rate:  10%

Minimum Premium:  $50

Federal Rate:  15%

Department of Insurance

Collateral - Mortgage Form
State Surrender Time - 90 days
Remission – Not Applicable

State Fees Per Bond - Not Applicable