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Committee backs bill barring compensated sureties from lending initial bond premium
Summary
Senate Bill 244 was recommended favorably by the Senate Judiciary Committee; it would prohibit compensated sureties from making loans to cover the initial 5% of a defendant’s required minimum appearance bond premium and require any such loan to come from a licensed lender unaffiliated with the surety.
The Senate Judiciary Committee recommended Senate Bill 244 favorably for passage after a brief presentation by the reviser explaining the bill’s effect on appearance bond premiums.
The reviser reminded the committee of the prior change to the minimum appearance bond premium and summarized the bill: “you'll recall last year, you guys put in a minimum appearance bond premium of 10%, and…
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