The Colorado Law on Bail Bonding
Courts can order defendants in criminal cases to post a huge amount of money as a bond to ensure the defendant returns to court. Typically, the required bond costs more money than most people have access to. Accordingly, bond agent companies act as insurers for defendants and post the money for a fee. These companies lose their money if the defendant does not return to court. The Colorado law on bail bonding is governed by the Colorado Revised Statutes.
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Purpose
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The purpose of a bail bond is to prevent a defendant in a criminal case from failing to appear in court. When someone in Colorado gets arrested, the first appearance before a judge is an arraignment. At the arraignment, the judge notifies the defendant of the charges the government has brought against him. In addition, the judge must determine whether to release the defendant or hold him until the defendant's next court date. The judge may have concerns about whether the defendant will actually return to court. To alleviate this concern, the judge may impose a large amount of money for the defendant to post as bail.
Bond Company
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Often, the amount of money is larger than someone can pay. Defendants must then go to a bail bondsman, who will charge the defendant about 15 percent of the bond. For example, if the court sets a bond at $10,000 and the defendant does not have access to that much money, the defendant can go to a bail bondsman to post the money. The bondsman would pay the $10,000 and charge the defendant $1,500. If the defendant fails to return to court, the bond company loses the $10,000.
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Bail Recovery
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Bail recovery (or "bounty hunting") occurs when a defendant fails to return to court. The bond company must pay out the bond, and it subsequently attempts to apprehend the defendant and bring the defendant to court. Colorado regulations require a bonding company to confirm with the Colorado Bureau of Investigation that any person acting as a "bounty hunter" has no record of a felony conviction or a plea of nolo contendere to a felony.
Licensing
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Colorado law on bail bonding requires a bail bond company to obtain a license that classifies them as an insurance "producer." Once someone has a license as a Bail Bonding Agent, she may apply for further licensing as either a Surety Bail Bonding Agent or a Professional Cash Bail Agent. Surety Bail Bonding Agents must have had their bail bonding license for less than four years. Applications for Surety Bail Bonding Agent status go through the Surety Bail Bonding Agent Authority. To be a Professional Cash Bonding Agent, the applicant must have had a Bail Bonding license for four years and must obtain approval from the Colorado Division of Insurance.
Examination
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In addition to the above requirements, individuals must pass an examination to obtain a bail bond license. The fee for the exam is $70. The licensing fee is $289. To take the examination, the applicant must submit fingerprints and a photograph. The Colorado Division of Insurance prohibits convicted felons or individuals on probation or parole for the last 10 years from taking the exam and obtaining a license.
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