Purpose


The proposed rule amendment expands the list of events that constitute a breach of a principal’s obligations to a surety company, allowing a surety company to rightfully act to apprehend, arrest, and surrender principal, in addition to denying a principal the right to any refund of premium. New paragraph 69B-221(1)(f), F.A.C., is added to the aforementioned list, describing an event where the indemnitor fails to make premium payment(s) as obligated under an agreement pursuant to subsection 69B-221.105(5), F.A.C. Subsection (2) of the proposed rule adds a link to the Department’s website where licensees may obtain copies of form DFS-H2-1542 (Statement of Surrender Form). The language in the existing rule that directs licensees to obtain the form from the Department’s Bail Bond Section is deleted.