S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
January 9, 2013
Introduced by Sen. ESPAILLAT -- read twice and ordered printed, and when
printed to be committed to the Committee on Insurance
AN ACT requiring the commissioner of financial services to conduct a
study to identify problems and concerns regarding the bail bond busi-
ness and to present his or her findings to the legislature
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. a. The commissioner of financial services shall, within 90
days of the effective date of this act, conduct a study to identify
problems and concerns regarding the bail bond business as defined in
section 6801 of the insurance law. The study is to identify necessary
improvements and clarifications to current regulations and statutes
related to the rights of defendants who utilize the bail bond business.
b. Upon completion of the study, the commissioner shall prepare a
report with the department's suggestions for regulatory and/or statutory
changes necessary to improve and clarify current regulations and stat-
utes related to the rights of defendants who utilize the bail bond busi-
ness as defined in section 6801 of the insurance law.
c. Upon completion of the report, the commissioner or her or his
designated hearing officer shall hold a public hearing in that area in
order to afford an opportunity for any person to propose additions or
deletions from the report recommendations and shall assure that copies
of the report are available for public inspection and a copy posted to
the department's website.
d. The commissioner of financial services shall give notice of such
hearing by certified mail not less than 30 days prior to the date set
for such hearing to all relevant stakeholders including, but not limited
to, any person, firm or corporation, or officer, employee or agent ther-
eof, licensed under section 6801 of the insurance law, all county funded
public defenders and legal aid societies, the district attorney for each
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 506 2
county and a representative appointed by chief judge of the New York
state court of appeals.
e. The commissioner shall also cause notice of such hearing, to be
published at least once, not more than 30 days nor fewer than 10 days,
in newspapers which have a general circulation in each county of the
state before the date set for such hearing.
f. Upon completion of the public hearing, the commissioner shall pres-
ent his or her findings to the legislature no later than 60 days after
the completion of the public hearing.
S 2. This act shall take effect immediately.