Mama says: Who regulates the bail bonds industry?
Well, that answer is a little complicated, but we’ll do our best to make it as straightforward as possible for you. The California Department of Insurance (CDI) regulates the bail bond business. They’ve done so since the Bail Bond Regulatory Act in 1937.
What Is A Bail Bond?
A bail bond is a surety bond, which a bail bond company (like us) posts to the court as a legally binding guarantee for an arrestee’s appearance at all assigned court dates (CDI). In other words, bail bonds make getting out of jail before a trial affordable for the average person. Without bonds, it’s often functionally impossible to pay your bail. Judges tend to set bail at amounts that are too high for ordinary people to pay. The only way for bail to act as a good deterrent for people thinking of skipping bail is to make sure that they stand to lose a lot of money.
How Does The CDI Regulate Bail Companies Like Bad Boys Bail Bonds?
The CDI Regulation Branch oversees and determines whether the pricing rates bail companies charge are fair. Every company has to file its rates with the CDI, and agents working for those companies must charge the exact rates recorded with the CDI. At the same time, the court determines the amount of bail. According to the CDI, the bond cannot exceed 10 percent of the total amount (plus any actual, necessary, or reasonable expenses incurred by the agency). The specific laws that encompass the regulatory act and bail bonds in general are:
- California Insurance Code (CIC) 1800 through 1823
- CCR Title 10 §2054 through §2104
- California Penal Code (PC) §1299 through §1306
Need Bail Bonds Help? Contact Bad Boys Bail Bonds Because Mama Wants You Home!
Well, there you have it. Now you know who has regulated the bail bonds industry since 1937 and how they control individual bail agencies. However, you probably aren’t aware of how easy and affordable bail bonds from Bad Boys Bail Bonds are. We make the process as smooth as possible. If you or a loved one are behind bars, then you’ve come to the right place! Contact Bad Boys Bail Bonds for help getting started today! Remember, Mama wants you home!