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An Act
ENROLLED SENATE
BILL NO. 378 By: Gollihare of the Senate
and
Pfeiffer of the House
An Act relating to bail bondsmen; amending 59 O.S.
2021, Section 1306.1, which relates to multicounty
agent bondsmen applications; allowing Insurance
Commissioner to approve certain bondsman to write
bonds over certain deposit amount; allowing
Commissioner to limit written bond amount;
prohibiting Commissioner from releasing certain
deposit for certain time period under certain
circumstances; allowing Commissioner to reduce
certain deposit bond amount written over certain
deposit amount; requiring Commissioner to provide
certain notice; updating statutory language; updating
statutory reference; and providing an effective date.
SUBJECT: Bail bondsmen
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 59 O.S. 2021, Section 1306.1, is
amended to read as follows:
Section 1306.1. A. 1. An applicant for a multicounty agent
bondsman license shall have been continually licensed as a
professional bondsman in the State of Oklahoma this state for a
minimum of two (2) years without suspension or having any unpaid
forfeitures prior to the date of application.
2. In addition to the requirements prescribed in Sections 1305
and 1306 of this title, an applicant for a multicounty agent
bondsman license shall submit to the Insurance Commissioner an
annual audited financial statement prepared by an accounting firm or
ENR. S. B. NO. 378 Page 2
individual holding a permit to practice public accounting in this
state in accordance with the Statements on Auditing Standards
promulgated by the Auditing Standards Board of the American
Institute of Certified Public Accountants setting forth the total
assets of the bondsman less liabilities and debts. For initial
applications and for subsequent renewals of the license, the
statement shall show a net worth of at least Two Hundred Fifty
Thousand Dollars ($250,000.00). The statement shall be current as
of a date not earlier than ninety (90) days prior to submission of
the application and the statement shall be attested to by an
unqualified opinion of the accountant.
3. Multicounty agent bondsman applicants shall make a deposit
with the Insurance Commissioner in the same manner as required of
domestic insurance companies. The deposit shall not be less than
One Hundred Thousand Dollars ($100,000.00). Provided, however, any
and all deposits made pursuant to paragraph 3 of subsection A of
Section 1306 of this title shall count toward the fulfillment of any
deposit amount required by this section. The deposit shall be
subject to all laws, rules, and regulations as deposits by domestic
insurance companies but in no instance, except as provided herein in
this paragraph, shall a multicounty agent bondsman write bonds which
equal more than twelve (12) times the amount of the deposit which
the bondsman has submitted to the Commissioner; provided, however,
any currently licensed professional bondsman in good standing with
the Insurance Department and who, on the effective date of this act
July 1, 2014, meets the provisions of the grandfather clause set
forth in Section 1306 of this title and who otherwise meets the
requirements of this section shall be afforded the same liability
ratio as that of such grandfathered professional bondsman. The
Commissioner may approve a multicounty agent bondsman to write bonds
over twelve (12) times the amount of the deposit but not more than
fifteen (15) times the amount of the deposit. Such deposit shall
require the review and approval of the Insurance Commissioner prior
to exceeding the maximum amount of Federal Deposit Insurance
Corporation basic deposit coverage for any one bank or financial
institution. In addition, a multicounty agent bondsman may make the
deposit by purchasing an annuity through a licensed domestic
insurance company in the State of Oklahoma this state. The annuity
shall be in the name of the bondsman as owner with legal assignment
to the Insurance Commissioner. The assignment form shall be
approved by the Commissioner. If a bondsman exceeds the above
ENR. S. B. NO. 378 Page 3
limitation, the bondsman shall be notified by the Commissioner that
the excess shall be reduced or the deposit increased within ten (10)
days of notification, or the license of the bondsman shall be
suspended immediately after the ten-day period, pending a hearing on
the matter.
4. The deposit provided for in this section shall constitute a
reserve available to meet sums due on forfeiture of any bonds or
recognizance executed by the bondsman.
5. Any deposit made by a multicounty agent bondsman pursuant to
this section shall be released and returned by the Commissioner to
the multicounty agent bondsman only upon extinguishment of all
liability on outstanding bonds. Provided, however, the Commissioner
shall have the authority to review specific financial circumstances
and history of a multicounty agent bondsman, on a case-by-case
basis, and may release a portion of the deposit if warranted. If a
multicounty agent bondsman has increased his or her writing capacity
to over twelve (12) times the amount of the deposit, the
Commissioner shall not release a portion of the deposit for at least
two (2) years following the approval of the increased writing
capacity. If the multicounty agent bondsman has had any
administrative action in the previous two (2) years, the
Commissioner may deny such application. If the multicounty agent
bondsman has two administrative actions after the application is
approved, the liability ratio may be immediately reduced to twelve
(12) times the amount of the deposit. The Commissioner shall
provide electronic notice to the multicounty agent bondsman when the
ratio is automatically reduced. The Commissioner may promulgate
rules to effectuate the provisions of this paragraph.
6. No release of deposits to a multicounty agent bondsman shall
be made by the Commissioner except upon written application and the
written order of the Commissioner. The Commissioner shall have no
liability for any such release to a multicounty agent bondsman
provided the release was made in good faith.
B. The deposit provided in this section shall be held in
safekeeping by the Insurance Commissioner and shall only be used if
a bondsman fails to pay an order and judgment of forfeiture after
being properly notified or shall be used if the license of a
multicounty agent bondsman has been revoked. The deposit shall be
ENR. S. B. NO. 378 Page 4
held in the name of the Insurance Commissioner and the bondsman.
The bondsman shall execute an assignment or pledge of the deposit to
the Insurance Commissioner for the payment of unpaid bond
forfeitures.
C. Notwithstanding any other provision of Sections 1301 through
1341 of this title, the license of a multicounty agent bondsman is
transferable upon the death or legal or physical incapacitation of
the bondsman to the spouse of the bondsman or to such other
transferee as the multicounty agent bondsman may designate in
writing, and the transferee may elect to act as a multicounty agent
bondsman for a period of one hundred eighty (180) days if the
following conditions are met:
1. The transferee shall hold a valid license as a surety
bondsman in this state; and
2. The asset and deposit requirements set forth in this section
continue to be met.
At the end of the one-hundred-eighty-day period, the transferee
shall be allowed to apply for a license as a multicounty agent
bondsman, provided he or she has been continually licensed as a
surety bondsman for at least five (5) years immediately prior to the
date of application, notwithstanding the requirements of paragraph 1
of subsection A of this section.
D. A multicounty agent bondsman may appoint by power of
attorney a licensed surety bondsman as his or her agent to execute
bail bonds within any county in the State of Oklahoma this state.
The number of bail bonds a multicounty agent bondsman may insure in
counties other than the county he or she registers his or her
license, pursuant to subsection A of Section 1320 of this title,
shall not be limited by subsection B of Section 1320 of this title.
SECTION 2. This act shall become effective November 1, 2026.
ENR. S. B. NO. 378 Page 5
Passed the Senate the 26th day of March, 2026.
Presiding Officer of the Senate
Passed the House of Representatives the 30th day of April, 2026.
Presiding Officer of the House
of Representatives
OFFICE OF THE GOVERNOR
Received by the Office of the Governor this ____________________
day of ___________________, 20_______, at _______ o'clock _______ M.
By: _________________________________
Approved by the Governor of the State of Oklahoma this _________
day of ___________________, 20_______, at _______ o'clock _______ M.
_________________________________
Governor of the State of Oklahoma
OFFICE OF THE SECRETARY OF STATE
Received by the Office of the Secretary of State this __________
day of __________________, 20 _______, at _______ o'clock _______ M.
By: _________________________________