(b)

1. (1) The fees collected under the provisions of Arkansas Code § 17-19-301(g) are designated for the use of the fund, which shall be administered by the Professional Bail Bond Company and Professional Bail Bondsman Licensing Board.

2. (2) The board will pay a claim against the fund for an unpaid bond forfeiture judgment in accordance with the following process:

   1. (A) Pursuant to Arkansas Code § 17-19-208, a court sends the board the statutorily required documentation regarding an unpaid bond forfeiture;
   2. (B) The bail bond company’s security deposit or deposits are seized by the board pursuant to Arkansas Code § 17-19-112 and paid to the court; and
   3. (C) The board disperses the amount payable, which is calculated under subsection (c) of this section, from the fund to the court.

(c)

1. (1) The maximum available for disbursement from the fund under this section is fifty percent (50%) of the amount of the bond that is left unpaid after deducting the amount of the security deposit under subdivision (b)(2)(B) of this section.
2. (2) The maximum amount payable from the fund is ten thousand dollars ($10,000) per bond forfeiture judgment.