Bail bond agency and branch office required records.
The following requirements and prohibitions apply to all records and documents required to be maintained by chapter 18.185
RCW, or in these rules:
(1) They shall be maintained in accordance with generally accepted accounting practices.
(2) No person shall make any false or misleading statement, or make false or misleading entry, or willfully fail to make any entry required to be maintained or made, in any such record or document.
(3) No person shall willfully fail to produce any such record or document for inspection by the department.
(4) The minimum records the qualified agent or principal partner of a bail bond agency shall be required to keep are:
(a) Bank trust account records;
(b) Duplicate receipt book or receipt journal;
(c) Prenumbered checks;
(d) Check register or cash disbursement journal;
(e) Validated bank deposit slips;
(f) Reconciled bank monthly statement (client liability vs bank statement);
(g) All canceled checks;
(h) All voided checks;
(i) "Client information" which includes defendant's name, application, dates of transactions, amount received, amount disbursed, current balance, check number, item(s) covered, indemnitor's agreement, and indemnity agreements, premium receipts, collateral receipt(s), letter(s) of forfeiture or surrender form(s), letter(s) of demand and affidavit(s), if surrendered before a forfeiture has occurred, and any written information or communication that may have influence on the bail bond or collateral placed for the bail bond;
(j) A transaction folder or file containing a copy of all agreements, invoices, billings, and related correspondence for each transaction;
(k) Records or description of all collaterals, securities, or monetary instruments received or held in the bail bond business transactions;
(l) Records of training and/or continuing education for each bail bond agents employed in that agency;
(m) Records of exoneration of all bail bond transactions which include: (i) Court, citation or case number (ii) date of issuance of the bail (iii) the defendant's name, address and telephone number (iv) amount of the bond (v) name of the court (vi) date of exoneration of the bond.
(5) The above records shall be maintained for a minimum period of three years.
(6) All funds and monetary instruments received by the agency from customers or clients in business transactions shall be deposited into the trust account within three working days of receipt.
(7) All money spent on behalf of a client must be deposited in and disbursed from the agent's collateral trust account, including advances, loans or money from the agency's business account to the collateral trust account to pay expenses.
(8) The bail bond agent must secure an invoice or billing from any party who provides a service on behalf of the defendant and must include the cost for the service, a description of the service provided, and the service provider's name, address, telephone number, and UBI number (Uniform Business Identifier).
(9) Bail bond agents must secure an affidavit from any party who purchases or takes possession of collateral being liquidated. The affidavit must state the name, address and telephone number of the party(ies) acquiring the property along with a complete description of the property, serial number or other unique identifying number, and the dollar value of the collateral being liquidated with an explanation of how the dollar value was estimated.
(10) If the bail bond agent or agency provides other services to the indemnitor or client, the firm must provide full disclosure in writing of the agent's relationship with any persons providing such services, and prior disclosure of fees charged. The written disclosure must be maintained in the client's transaction file for a minimum period of three years. For purposes of this section, "other services" shall mean services unrelated to the issuance and posting of bail.
(11) The bail bond agent must provide each indemnitor or client a receipt for all personal property. The bail bond agent shall keep a duplicate of all receipts. The receipt will include:
(a) Date of receipt;
(b) Complete description of the property to include serial numbers or other unique identifying numbers;
(c) Signature of the bail bond agent; and
(d) A file or case number the receipt relates to.
(12) The bail bond agent shall maintain an individual ledger card to post all bank charges of any nature, including credit card charges. Accrued interest shall be posted to the individual ledger card. If bank charges exceed the interest earned, causing the trust account to be lower than client liability, the bail bond agent shall immediately deposit funds into the trust account to bring the trust account into balance. For purposes of this subsection, "immediately" shall mean within one banking day after the bail bond agent receives notice that the trust account is lower than client liability. All interest accruing on the trust bank account must be withdrawn at least once monthly.
(13) Contracts as described in RCW 18.185.270
(2) between the bail bond agent and the bail bond recovery agent.
[Statutory Authority: Chapter 18.185
RCW. WSR 05-08-027, § 308-19-240, filed 3/30/05, effective 4/30/05. Statutory Authority: RCW 43.24.086
and chapter 18.185
RCW. WSR 02-07-067, § 308-19-240, filed 3/18/02, effective 7/1/02. Statutory Authority: Chapter 18.185
RCW. WSR 00-01-061, § 308-19-240, filed 12/13/99, effective 1/13/00. Statutory Authority: 1993 c 260 § 13. WSR 93-21-053, § 308-19-240, filed 10/18/93, effective 11/18/93.]