As used in this chapter:

1. (1) "Bail bond" means a bond for a specified monetary amount that is:

   1. (a) executed by a bail bond producer licensed in accordance with Section 31A-35-401; and
   2. (b) issued to a court, magistrate, or authorized officer as security for the subsequent court appearance of the defendant upon the defendant's release from actual custody pending the appearance.

2. (2) "Bail bond producer" means an individual who:

   1. (a) is appointed by:

      1. (i) a surety insurer that issues bail bonds; or
      2. (ii) a bail bond surety company licensed under this chapter;
   2. (b) is appointed to execute or countersign undertakings of bail in connection with judicial proceedings; and
   3. (c) receives or is promised money or other things of value for engaging in an act described in Subsection (2)(b).

3. (3) "Bail bond surety" means a person that:

   1. (a)

      1. (i) is a bail bond surety company licensed under this chapter; or
      2. (ii) a surety insurer; and

   2. (b) issues bonds to secure:

      1. (i) the release of a person from incarceration; and
      2. (ii) the appearance of that person at court hearings.

4. (4) "Bail bond surety company" means any sole proprietor or entity who:

   1. (a)

      1. (i) is the agent of a surety insurer that issues a bail bond in connection with judicial proceedings;
      2. (ii) pledges the assets of a letter of credit from a Utah depository institution for a bail bond in connection with judicial proceedings; or
      3. (iii) pledges personal or real property, or both, as security for a bail bond in connection with judicial proceedings; and
   2. (b) receives or is promised money or other things of value for a service described in Subsection (4)(a).

5. (5) "Bail enforcement agent" means an individual who:

   1. (a) is employed or contracted with to:

      1. (i) enforce the terms and conditions of a defendant's release on bail in a civil or criminal proceeding;
      2. (ii) apprehend a defendant or surrender a defendant to custody; or
      3. (iii) both Subsections (5)(a)(i) and (ii); and
   2. (b) receives or is promised money or other things of value for the services described in Subsection (5)(a).
6. (6) "Board" means the Bail Bond Surety Oversight Board created in Section 31A-35-201.
7. (7) "Certificate" means a certificate of authority issued under this chapter to allow an insurer to operate as a surety insurer.
8. (8) "Indemnitor" means an entity or natural person who enters into an agreement with a bail bond surety to hold the bail bond surety harmless from loss incurred as a result of executing a bail bond.
9. (9) "Liquid assets" means financial holdings that can be converted into cash in a timely manner without the loss of principal.
10. (10) "Principal" means an individual or corporation whose performance is guaranteed by bond.

11. (11) "Surety insurer" means an insurer that:

    1. (a) is licensed under Chapter 4, Insurers in General, Chapter 5, Domestic Stock and Mutual Insurance Corporations, or Chapter 14, Foreign Insurers;
    2. (b) receives a certificate under this title; and
    3. (c) issues bail bonds.

12. (12) "Utah depository institution" is a depository institution, as defined in Section 7-1-103, that:

    1. (a) has Utah as its home state; or
    2. (b) operates a branch in Utah.