16(a) No collateral will be added to a bondsman’s maximum bond amount unless it is a minimum of $1,000.
(b) If cash or certificate(s) of deposit are offered as collateral, they must remain in trust for at least one year. After the expiration of one year, certificates of deposit pledged as collateral may be released and substituted without Board approval by the secretary of the Board, provided that the substituted certificates of deposit are of equal value.
(c) If real estate is offered as collateral, the real estate may be released within ninety days provided that cash or certificate(s) of deposit in equal or greater amount are offered in lieu of the real estate. Cash or certificate(s) of deposit offered in place of real estate must remain in trust for one year. Any change in collateral under this rule must be accompanied by a current financial statement.
(d) If real estate is offered as collateral in lieu of cash or certificate(s) of deposit, or in lieu of other real estate already pledged, or for any real estate offered as collateral, the bondsman must present the following to the Board for approval:
1. “property description when real estate is used as surety” affidavit,
2. current appraisal, or certified value of the property according to the current tax appraisal rolls, and
3. current financial statement. If the bondsman is licensed under §1704.162(e) of the Texas Occupations Code and an annual financial report has been filed within the last 12 months, no additional financial statement will be required under this Rule.
(e) When a surety or prospective surety provides real property to collateralize future bail bonds, he or she must elect to value the property via one of two methods: certified property tax appraisal value, or according to an appraisal from a qualified appraiser meeting the standards set forth in the Bail Bond Act. Once this election is made, the surety cannot change the method for valuing the real property collateral until he or she next renews his or her license.
17. On or before February 15 of each year, bondsmen with real estate pledged as collateral for making bail bonds will provide a copy of paid tax receipts for each piece of real estate so pledged. These receipts must show proof of taxes paid in full by no later than the immediately previous January 31, and must show such payment for any county, city, school district and other ad valorem taxes which are due for the previous calendar year. Failure to comply with this provision will result in the applicable property being immediately deducted from posted collateral as of February 16 of the applicable year. If a bondsman provides proof that taxes were paid in full by January 31, but provides that proof after February 15, any collateral previously deducted by the Board’s Secretary shall be immediately restored to the bondsman’s account without the necessity of further Board action.
If, however, a bondsman fails to pay taxes in full by January 31 but makes a later payment in full, he must make a request to the Board for reinstatement of collateral. Upon written request from a bondsman received ten (10) days before a scheduled monthly meeting of the Board, a request to reinstate real estate which has been deducted from posted collateral for non-payment or late payment of property taxes as stated above shall be placed on the agenda for the Board’s consideration. If the bondsman provides proof at such a meeting that all property taxes and penalties have been fully paid as of that time, the real estate shall be immediately restored to a bondsman’s posted collateral.
18(a) So long as it is pledged as collateral for making bail bonds, property shall not be further encumbered by a bondsman without the express consent of the Tarrant County Bail Bond Board. This rule applies equally to all forms of collateral, whether real or personal property.
(b) When a certificate of deposit is pledged as collateral for making bail bonds, the bondsman pledging the CD shall execute a document permitting the relevant financial institution to confirm the amount, current encumbrance and assignment status of the certificate to any representative of the Tarrant County Auditor, Tarrant County Sheriff’s Department, or Tarrant County Bail Bond Board.
(c) Bondsmen shall answer all inquiries from Tarrant County agents or employees concerning property pledged as collateral. Such an inquiry, made in writing to the latest address provided by the bondsman to the County, shall be answered in full within thirty days after the inquiry is deposited in the United States Mail via Certified Mail, Return Receipt Requested.
(d) If the value, encumbrance status or assignment status of any collateral remains unconfirmed after an inquiry as described above in (c), the previously established value of the relevant collateral may be immediately deducted from the amount of collateral used to determine the maximum amount of bail bonds a bondsman is allowed to maintain at any given time. Such a deduction shall in no way preclude further discipline against the bondsman who fails to meet his or her obligations under Rule 18 (c).
(e) If a bondsman has pledged a CD as collateral, and the financial institution issuing the CD is sold, merges with another financial institution, changes name, or otherwise undergoes a change in form, the bondsman is responsible to notify the Bail Bond Board Secretary within 60 days of the change, and to either provide written verification that any assignment of the CD remains valid or to provide a new assignment form reflecting the relevant change to the financial institution.
(f) A bondsman must provide updated information about his or her then-pledged collateral as part of his or her application or annual financial statement.
(g) When a CD is pledged as collateral, a bondsman must provide documentation of the length or term of the CD. A CD will be counted as collateral only until the expiration of its term, unless and until the bondsman provides documentation as to the terms of any renewal
