Oklahoma § 47-702 - Guaranteed arrest bond certificates - Trucking

§ 47-702. Guaranteed arrest bond certificates - Trucking

associations.

(a) Any trucking association may issue guaranteed arrest bond

certificates valid for one (1) year from January 1 of the year of

issue as provided in this act in an amount not to exceed One

Thousand Dollars ($1,000.00) on each undertaking, provided such

certificates have been fully guaranteed by the trucking association

Oklahoma Statutes - Title 47. Motor Vehicles

or reinsured by an insurer then licensed by the Insurance

Commissioner to transact surety business in this state and such

guarantee or reinsurance by the insurer covers all certificates

issued by the trucking association or other association during the

term of the guarantee or reinsurance written by the insurer. Such

insurer shall first file with the Insurance Commissioner an

undertaking thus to become surety. The guarantee by the trucking

association shall, at the discretion of the Insurance Commissioner,

be secured by a deposit with the Insurance Commissioner of up to

Fifty Thousand Dollars ($50,000.00), either cash or bond at the

discretion of the Commissioner, to guarantee performance of said

undertaking. Such guaranteed arrest bond certificates may be issued

also in conjunction with automobile liability policies by any

insurer authorized to then write automobile liability insurance

within this state upon such insurer filing with the Insurance

Commissioner an undertaking thus to become such surety.

(b) Such undertaking shall be in the form prescribed by the

Commissioner of Insurance and shall state the following:

(1) The name and address of the trucking association,

association or companies with respect to the guaranteed arrest bond

certificates of which the surety company undertakes to be surety.

(2) The unqualified obligation of the surety company to pay the

fine or forfeiture in an amount not to exceed One Thousand Dollars

($1,000.00) of any person who, after posting a guaranteed arrest

bond certificate with respect to which the surety company has

undertaken to be surety, fails to make the appearance to guarantee

which, the guaranteed arrest bond certificate was posted.

(3) The term "guaranteed arrest bond certificate" as used herein

means any printed card or other certificate issued by a trucking

association, association or insurance company to any of its members

or insured, which card or certificate is signed by the member or

insured and contains a printed statement that such trucking

association, association or insurance company and a surety company

or an insurance company authorized to transact automobile liability

insurance business, guarantee the appearance of the person whose

signature appears on the card or certificate and that they will, in

the event of failure of the person to appear in court at the time of

trial, pay any fine or forfeiture imposed on the person in an amount

not exceeding One Thousand Dollars ($1,000.00).

(c) Any guaranteed arrest bond certificate with respect to which

a surety company has become surety, or a guaranteed arrest bond

certificate issued by an insurance company authorized to transact

automobile liability insurance business within this state, as herein

provided, shall, when posted by the person whose signature appears

thereon, be accepted in lieu of cash bail or other bond in an amount

not to exceed One Thousand Dollars ($1,000.00) as a bail bond, to

guarantee the appearance of such person in any court in this state,

Oklahoma Statutes - Title 47. Motor Vehicles

including all municipal courts in this state, at such time as may be

required by such court, when the person is arrested for violation of

any motor vehicle law of this state or any motor vehicle ordinance

of any municipality in this state, committed prior to the date of

expiration on such guaranteed arrest bond certificates, except for

the offense of driving under the influence of intoxicating liquors

or of drugs or for any felony; provided, that any such guaranteed

arrest bond certificates so posted as bail bond in any court in this

state shall be subject to the forfeiture and enforcement provisions

with respect to bail bonds in criminal cases as otherwise provided

by law or as hereafter may be provided by law, and that any such

guaranteed arrest bond certificate posted as a bail bond in any

municipal court of this state shall be subject to the forfeiture and

enforcement provisions, if any, of the charter or ordinance of the

particular municipality pertaining to bail bonds posted.

(d) The State Insurance Commissioner shall notify in writing the

State Commissioner of Public Safety, each chief of municipal police

department, each county sheriff of this state, the name of each

surety, insurance company, trucking association, or association

authorized to issue guaranteed arrest bond certificates, as provided

in this act. The Insurance Commissioner shall also inform such

officials of each additional organization which may thereafter

become qualified to issue such certificates and in the event any

such organization shall be disqualified from issuing such

certificates, the Commissioner shall forthwith inform such officials

of such disqualification, at least ten (10) days prior to such

disqualification.

Amended by Laws 1987, c. 226, § 9, operative July 1, 1987.