(b) The collateral required by a bail agent, insurer, or charitable bail organization shall be reasonable in relation to the amount of the bail. Collateral equal to or less than 10 percent of the bail amount is presumed to be reasonable.

1. (1) A bail agent shall not use collateral for personal benefit or gain.
2. (2) Prior to any forfeiture, a bail agent shall keep the collateral separate and apart from any other funds or assets of the bail agent.

3. (3) A bail agent shall receive and hold any non-cash collateral in the insurer’s or charitable bail organization’s name, and any cash accepted as collateral shall be promptly remitted to and held by the insurer or charitable bail organization pursuant to section 28.12 of this Part.

   (d)

4. (1) After there has been an exoneration, a bail agent shall return the collateral to the indemnitor no later than 45 days after receipt of notice of exoneration or from discharge of forfeiture under Criminal Procedure Law section 540.10.2. The bail agent shall assist the indemnitor in obtaining an order of exoneration.

5. (2) If a bail agent fails to return collateral to the indemnitor in accordance with paragraph (1) of this subdivision, the insurer or charitable bail organization shall return the actual collateral to the indemnitor or, if the insurer or charitable bail organization cannot access the actual collateral, the insurer or charitable bail organization shall pay the indemnitor the value of the actual collateral as set forth in the receipt required by section 28.17 of this Part, within 60 days of receipt of notification from the bail agent or indemnitor of the bail agent’s failure to comply with paragraph (1) of this subdivision.

   (e)

6. (1) If forfeiture occurs and is not discharged under Criminal Procedure Law section 540.10.2, a bail agent, insurer, or charitable bail organization may, upon giving the indemnitor and principal at least 30 days written notice of intent, convert non-cash collateral into cash to satisfy the forfeiture. The bail agent, insurer, or charitable bail organization shall mail or deliver the notice to the last known addresses of the indemnitor and principal, and shall retain in the file proof of mailing or delivery in accordance with section 28.19 of this Part.
7. (2) A bail agent, insurer, or charitable bail organization shall convert non-cash collateral to cash within a reasonable period of time and return to the indemnitor any amount in excess of the bail amount.

(c)