Any company desiring the release of a certificate of deposit or clean irrevocable letter of credit that has been filed with the Professional Bail Bond Company and Professional Bail Bondsman Licensing Board shall comply with either of the following requirements:

1. (1) A company seeking release of a certificate of deposit or a clean irrevocable letter of credit may file with the board a replacement security in an amount equal to or greater than the amount of the security for which release is sought, and the replacement security must be specifically retroactive to the date the original security was issued; or

2. (2) If a company wishes to procure the release of a clean irrevocable letter of credit or of a certificate of deposit, it must present a statement in writing from each court of each county in which the company was engaged in business to write bail bonds, stating that:

   1. (A) The company has satisfied all its outstanding liabilities, both actual and potential;
   2. (B) No outstanding forfeitures against the company remain;
   3. (C) All bail bonds which were issued by the company have been discharged; and
   4. (D) All civil judgments as to forfeitures on bonds issued by the licensee have been paid in full.