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N.Y. Ins. Law § 6804

Premium or compensation

Applied in 1 court decision — leading case Karine Gevorkyan v. Ira Judelson (2017)

Most recently applied in Karine Gevorkyan v. Ira Judelson (June 2017)

2014-09-22

§ 6804. Premium or compensation. (a) The premium or compensation for\ngiving bail bond or depositing money or property as bail shall not\nexceed ten per centum of the amount of such bond or deposit in cases\nwhere such bonds or deposits do not exceed the sum of three thousand\ndollars. Where such bonds or deposits exceed the sum of three thousand\ndollars, the premium shall not exceed ten per centum of the first three\nthousand dollars and eight per centum of the excess amount over three\nthousand dollars up to ten thousand dollars and six per centum of the\nexcess amount over ten thousand dollars. In cases where the amount of\nthe bond or deposit is less than two hundred dollars a minimum premium\nof ten dollars may be charged.\n (b) No person or corporation shall:\n (1) charge or receive, directly or indirectly, any greater\ncompensation for making a deposit for bail or giving bail, or act in\nsuch business as aforesaid without obtaining a license, or\n (2) accept any fee or compensation for obtaining a license or for\nobtaining a bondsman or bail bond. Such person or corporation shall be\nguilty of a misdemeanor and in addition shall in any action brought to\nrecover any such overcharge be liable for treble damages.\n (c) Any member of the bar having any financial interest by which he is\nto profit from the giving of bail shall be guilty of a misdemeanor.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.