A. Every bondsman shall file with the undertaking an affidavit stating whether or not the bondsman or anyone for the use of the bondsman has been promised or has received any security or consideration for the undertaking, and if so, the nature and description of security and amount thereof, and the name of the person by whom the promise was made or from whom the security or consideration was received. Any willful misstatement in the affidavit relating to the security or consideration promised or given shall render the person making it subject to the same prosecution and penalty as one who commits the felony of perjury.

B. An action to enforce any indemnity agreement shall not lie in favor of the surety against the indemnitor, except with respect to agreements set forth in the affidavit. In an action by the indemnitor against the surety to recover any collateral or security given by the indemnitor, the surety shall have the right to retain only the security or collateral as it mentioned in the affidavit required by this section.

C. If security or consideration other than that reported on the original affidavit is received after the affidavit is filed with the court clerk, an amended affidavit shall be filed with the court clerk indicating the receipt of security or consideration.

D. If a bondsman accepts a mortgage on real property as collateral on a bond, the bondsman shall file a copy of the mortgage with the bond within thirty (30) days of receipt of the mortgage. The Commissioner shall have the authority to extend or waive this requirement.

Added by Laws 1965, c. 184, § 22, eff. Jan. 1, 1966. Amended by Laws 1993, c. 170, § 4, eff. Sept. 1, 1993; Laws 1997, c. 133, § 510, eff. July 1, 1999; Laws 1999, 1st Ex.Sess., c. 5, § 371, eff. July 1, 1999; Laws 2010, c. 222, § 62, eff. Nov. 1, 2010.

NOTE: Laws 1998, 1st Ex.Sess., c. 2, § 23 amended the effective date of Laws 1997, c. 133, § 510 from July 1, 1998, to July 1, 1999.