In addition to the general licensure requirements, what other requirements must be met to obtain a property bail bondsman license?

  1. Additionally, prior to the issuance of a property bail bondsman license, each property bail bondsman applicant shall provide the following:
    1. Proof of collateral with a minimum equity of $200,000 on their bonds and
    2. Proof of collateral with a minimum equity of $200,000 on the bonds of each of their agents.
    3. The Department shall specifically approve any collateral that is not in the form of real estate, cash, or certificates of deposit issued by a FDIC-insured financial institution before it may be used as collateral.
  2. If the property used as collateral is real estate, such real estate shall be located in the Commonwealth. In addition, the property bail bondsman applicant shall submit to the Department:
    1. A true copy of the current real estate tax assessment thereof, certified by the appropriate assessing officer of the locality wherein such property is located or, at the option of the property bail bondsman, an appraisal of the fair market value of the real estate, which appraisal shall have been prepared by a licensed real estate appraiser, within one year of its submission.
    2. An affidavit by the property bail bondsman applicant that states, to the best of such person's knowledge, the amount of equity in the real estate and the amounts due under any obligations secured by liens or similar encumbrances against the real estate, including any delinquent taxes, as of the date of the submission. At its discretion, the Department may require additional documentation to verify these amounts.   This form can be accessed here.
  3. ‚ÄčIf the property used as collateral consists of cash or certificates of deposit, the property bail bondsman applicant shall submit to the Department verification of the amounts, and the names of the financial institution in which they are held.