New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 11. Insurance |
Chapter II. Agents, Brokers and Adjusters |
Part 28. Professional Bail Agents |
Sec. 28.9. Return of premium
Latest version.
- An insurer or a bail agent shall refund the full premium paid by the indemnitor if the principal is not released from custody, within 14 days of receipt of notice that the principal was not released. If there is more than one indemnitor, the amount refunded to each indemnitor shall be the amount that the indemnitor paid.