Okla. Stat. tit. 36, § 36-4903
This is the official text of Okla. Stat. tit. 36, § 36-4903, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Bail bond surety companies - Reserve funds
Official statutory text
All surety companies which execute undertakings of bail shall
keep any moneys collected from agents licensed pursuant to Section
1303 of Title 59 of the Oklahoma Statutes as buildup or reserve
funds in segregated interest-bearing trust accounts within this
state in an entity which is insured either by the Federal Deposit
Insurance Corporation or the Federal Savings and Loan Insurance
Corporation.
The interest-bearing trust accounts shall not be pledged or
offered as collateral.
The moneys in the interest-bearing trust accounts shall be used
to satisfy the unfulfilled obligations of the undertakings of bail
written by the agents from whom the moneys have been collected and
to otherwise satisfy the unfulfilled obligations which may be owing
to the surety by such agents.
keep any moneys collected from agents licensed pursuant to Section
1303 of Title 59 of the Oklahoma Statutes as buildup or reserve
funds in segregated interest-bearing trust accounts within this
state in an entity which is insured either by the Federal Deposit
Insurance Corporation or the Federal Savings and Loan Insurance
Corporation.
The interest-bearing trust accounts shall not be pledged or
offered as collateral.
The moneys in the interest-bearing trust accounts shall be used
to satisfy the unfulfilled obligations of the undertakings of bail
written by the agents from whom the moneys have been collected and
to otherwise satisfy the unfulfilled obligations which may be owing
to the surety by such agents.
Status: in_force · Read it on the official government site
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