Section 760IAC1-6.2-1.5. Definitions

  5. The following definitions apply throughout this rule:

(1) "Bail agent" has the meaning set forth in IC 27-10-1-4.

(2) "Commissioner" means the commissioner of the department.

(3) "Continuing education class" means classes available to licensed bail or recovery agents on topics related to the bail industry necessary to renew a license under IC 27-10-3-7(b).

(4) "Department" means the department of insurance.

(5) "Prelicensing class" means a classroom course of study to prepare an applicant for taking the examination test as required by IC 27-10-3-3(a)(4) and IC 27-10-3-5(4).

(6) "Provider" means a person or entity that offers an approved prelicensing or continuing education class.

(7) "Qualified instructor" means a person who has obtained a high school diploma and also meets one (1) of the following criteria:

(A) Holds a valid teaching license in the state of Indiana.

(B) Has a minimum of ten (10) years of managerial, supervisory, or teaching experience in the bail industry.

(C) Holds a property and casualty insurance producer license with the designation of:

(i) CPCU;

(ii) FLMI;

(iii) CIC; or

(iv) CHFC.

A qualified instructor must be compliant with all applicable state laws and 18 U.S.C. 1033 and may not have a bail agent or recovery agent license or insurance producer license that is, or has in the past been, suspended or revoked in Indiana or any other state without the express written consent of the commissioner.

(8) "Recovery agent" has the meaning set forth in IC 27-10-1-9.

(9) "Structured setting" means a class that meets at a:

(A) set time; and

(B) fixed location.

The term does not include on-line or self-study classes. (Department of Insurance; 760 IAC 1-6.2-1.5; filed Jun 30, 2006, 3:30 p.m.: 20060726-IR-760050133FRA; readopted filed Nov 21, 2012, 4:15 p.m.: 20121219-IR-760120454RFA)