Sec. 28.1. Definitions

In this Part:

(a) Bail shall have the meaning set forth in Criminal Procedure Law section 500.10.9.

(b) Bail agent means a person, firm, or corporation, or any officer or employee thereof, licensed under Insurance Law section 6802.

(c) Bail agreement means an agreement between a principal or indemnitor and a bail agent to provide bail.

(d) Bail bond shall have the meaning set forth in Criminal Procedure Law section 500.10.13.

(e) Cash bail shall have the meaning set forth in Criminal Procedure Law section 500.10.10.

(f) Charitable bail organization means an entity as described in Insurance Law section 6805(a)(1).

(g) Collateral means any property pledged as a guarantee for the issuance of a bail bond.

(h) Compensation means anything of value, including money, credits, loans, interest on premium, forgiveness of principal or interest, trips, prizes, or gifts.

(i) Durable medium means a medium for maintaining a record where the properties of such medium provide reasonable assurances against tampering with the information contained in the original and degradation of any reproduction generated, and where the reproduction is an exact copy of the original. The medium may include paper; facsimile; or photographic, micrographic, magnetic, optical, mechanical, or electronic media.

(j) Exoneration means the release in writing by the court of the insurer’s obligation on a bond.

(k) Forfeiture means a court order that the bail shall be paid due to the failure of the principal to appear before the court, without sufficient excuse, when required or failure of the principal to render himself or herself amenable to the orders and processes of the court wherein the bail has been posted.

(l) Headquarters location means the address set forth in the bail agent’s license issued pursuant to Insurance Law section 6802.

(m) Indemnitor means a person who pays the bail bond premium or pledges collateral.

(n) Indemnity agreement means the contract between the insurer, bail agent and the indemnitor pursuant to which the indemnitor undertakes and agrees to indemnify the insurer against loss arising from forfeiture of bail.

(o) Insurer means an insurer authorized in this State to write fidelity and surety insurance as defined in Insurance Law section 1113(a)(16).

(p) Out-of-pocket cost means the actual amount paid for an item or service.

(q) Place of business means any location in this State used by a bail agent to conduct bail business.

(r) Principal shall have the meaning set forth in Criminal Procedure Law section 500.10.1.

(s) Remission means the cancellation of a forfeiture following the procedure set forth in Criminal Procedure Law section 540.30.

(t) Satellite office means any place of business other than the headquarters location.

(u) Supervising person means any natural person who is a licensed bail agent and who has been deemed or designated to be responsible for and in charge of a headquarters location or satellite office.