§ 58-71-145. Financial responsibility of professional bondsmen. - North Carolina Statutes

§58‑71‑145.  Financial responsibility of professional bondsmen.

Each professional bondsmanacting as surety on bail bonds in this State shall maintain a deposit ofsecurities with and satisfactory to the Commissioner of a fair market value ofat least one‑eighth the amount of all bonds or undertakings written inthis State on which he is absolutely or conditionally liable as of the firstday of the current month. The amount of this deposit must be reconciled withthe bondsman's liabilities as of the first day of the month on or before thefifteenth day of said month and the value of said deposit shall in no event beless than fifteen thousand dollars ($15,000). (1963, c. 1225, s. 29; 1975,c. 619, s. 1; 2000‑180, s. 8.)