Bill Summary for H 649 (2011-2012)
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TO AMEND THE LAWS PERTAINING TO GROUNDS FOR REVOCATION OF LICENSURE UNDER THE LAWS REGULATING BAIL BONDSMAN.Intro. by Randleman.
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House committee substitute makes the following changes to 1st edition. Amends proposed GS 58-71-122 to require that the contract for the transfer of a business by a licensed professional bondsman to another licensed professional bondsman must (1) include a list of the transferring bondsman's pending outstanding bail bond obligations (was, liabilities) and (2) be filed with the Commissioner of Insurance (was, must be filed with the Commissioner and with the clerk of superior court where the licensee has pending outstanding bail bond obligations). Provides that the bondsman making the transfer remains responsible for all outstanding bond obligations despite filing the contract with the Commissioner until there is a substitution of surety under GS 15A-538, relief from an individual obligation under GS 15A-534(h), or satisfaction of any final judgment of forfeiture that is entered on the bond obligation. Deletes amendment to GS 58-71-125, which made certain records involving bail bond runners in the possession of the Commissioner or any organization of which the Commissioner is a member confidential.