Syfert Injury Law Firm

Your Trusted Partner in Personal Injury & Workers' Compensation

Call Now: 904-383-7448
Florida Statute 648.29 - Full Text and Legal Analysis
Florida Statute 648.29 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 648.29 Case Law from Google Scholar Google Search for Amendments to 648.29

The 2025 Florida Statutes

Title XXXVII
INSURANCE
Chapter 648
BAIL BOND AGENTS
View Entire Chapter
F.S. 648.29
648.29 Build-up funds posted by bail bond agent.
(1) All build-up funds pledged to indemnify an insurer which are posted by a bail bond agent or agency with the insurer must be held in an individual build-up trust account for the agent or agency in an FDIC-approved or FSLIC-approved bank or savings and loan association in this state, jointly in the name of the agent or agency and the insurer or in trust for the agent or agency by the insurer. Such account must remain open to inspection and examination by the department at all times. An accounting of all such funds shall be maintained which designates the amounts collected on each bond written.
(2) Build-up funds may not exceed 40 percent of the premium as established by the agent’s contract agreement with the insurer or managing general agent. Build-up funds received shall be immediately deposited to the build-up trust account. Interest on such accounts shall accrue to the bail bond agent.
(3) Build-up funds are maintained as a trust fund created on behalf of a bail bond agent or agency, held by the insurer in a fiduciary capacity to be used to indemnify the insurer for losses and any other agreed-upon costs related to a bail bond executed by the agent. The build-up funds are the sole property of the agent or agency. Upon termination of the bail bond agency or agent’s contract and discharge of open bond liabilities on the bonds written, build-up funds are due and payable to the bail bond agent or agency not later than 6 months after final discharge of the open bond liabilities.
(4) Each insurer authorized to write bail bonds in this state and each managing general agent must furnish to the department a certified copy of a statement listing each build-up trust account and the balance therein by March 1 of each year.
(5) Insurers must provide copies of build-up fund account bank statements to their agents and agencies.
History.s. 8, ch. 65-492; s. 177, ch. 70-339; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 71, 72, ch. 82-175; ss. 50, 51, ch. 84-103; s. 5, ch. 87-321; ss. 6, 46, 47, ch. 90-131; s. 4, ch. 91-429; s. 6, ch. 96-372; s. 5, ch. 2002-260.
Note.Former s. 903.392.

F.S. 648.29 on Google Scholar

F.S. 648.29 on CourtListener

Amendments to 648.29


Annotations, Discussions, Cases:

Cases Citing Statute 648.29

Total Results: 3

Roche Surety & Casualty Co. v. Department of Financial Services, Office of Insurance Regulation

895 So. 2d 1139, 2005 Fla. App. LEXIS 1359, 2005 WL 292222

District Court of Appeal of Florida | Filed: Feb 9, 2005 | Docket: 64836527

Published

returned his build-up funds in violation of section 648.29(3), which provides that build-up funds are

Carr v. Lammie

868 So. 2d 636, 2004 Fla. App. LEXIS 3250, 2004 WL 507570

District Court of Appeal of Florida | Filed: Mar 17, 2004 | Docket: 64828991

Published

related to the sale as a money market account. See § 648.29, Fla. Stat. (1999). A statutory build-up fund

Carr v. Lammie

816 So. 2d 142, 2002 Fla. App. LEXIS 4484, 2002 WL 506806

District Court of Appeal of Florida | Filed: Apr 5, 2002 | Docket: 64815034

Published

deducted $10,000 from Mr. Carr’s build-up fund, see § 648.29, Fla. Stat. (1999), and Mr. Carr signed a promissory