Property surety definition
Property surety means a compensated surety who secures appearance bonds by property pledged as security. A property surety may be a person or entity, other than a corporation, and may authorize bail agents to act on behalf of the property surety in writing appearance bonds.
Property surety means a compensated surety who secures
Property surety means a compensated surety who secures appearance bonds by property pledged as security. A property surety may be a person or entity, other than a corporation, and may authorize bail agents to act on behalf of the property surety in writing appearance bonds. In the 18th Judicial District the only property that can be pledged to secure appearance bonds is a valid, current and enforceable irrevocable two year Letter of Credit starting July 1st in the year of the application in an amount not less than one hundred thousand dollars ($100,000) issued to the District Court, Eighteenth Judicial District, by a state or national banking institution authorized to and doing business in the State of Kansas, guaranteeing payment of any forfeited appearance bonds posted by the Property Surety or his/her Bail Agent(s) on which judgment has been granted. Any supplemental Letter of Credit shall meet all requirements of this Rule and shall not expire until the next June 30th. All such letters of credit must be reviewed by the District Attorney and approved by the Chief Judge. Letters of Credit shall be retained by the Clerk of the District Court, following approval of the application. No other property is acceptable to be pledged from a property surety.
More Definitions of Property surety
Property surety means a compensated surety who secures appearance bonds by property pledged as security. A "property surety" may be a person or entity, other than a