(a) In this subtitle the following words have the meanings indicated.
(b) “Bail bond” means a written obligation of a defendant, with or without a surety or collateral security, that:
(1) is conditioned on the appearance of the defendant as required; and
(2) provides for the payment of a penal sum according to its terms.
(c) “Bail bondsman” means an authorized insurance producer of a surety insurer.
(d) “Collateral security” means any property deposited, pledged, or encumbered to secure the performance of a bail bond.
(e) “License” means a license issued by the Commissioner to provide bail bondsman services.
(f) “Provide bail bondsman services” means to provide any service in the bail bondsman trade.
(g) (1) “Surety” means a person, other than the defendant, that guarantees the appearance of the defendant by executing a bail bond.
(2) “Surety” includes an uncompensated or accommodation surety.
(h) “Surety insurer” means a person that, for compensation, directly or through an authorized insurance producer, acts as a surety on a bail bond.