SENATE BILL 505

52nd legislature - STATE OF NEW MEXICO - first session, 2015

INTRODUCED BY

Lisa A. Torraco

AN ACT

RELATING TO INSURANCE; ENACTING A NEW SECTION OF THE BAIL BONDSMEN LICENSING LAW TO PROVIDE FOR THE FULL AMOUNT OF BAIL.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. A new section of the Bail Bondsmen Licensing Law is enacted to read:

     "[NEW MATERIAL] PAID SURETY--FULL BAIL.--All percent bonds or property bonds set by a court may be posted by a licensed bail bondsman pursuant to the Bail Bondsmen Licensing Law, provided that the paid surety shall also execute a bail bond for the full amount of the bail set by the court."

.199572.1