§47-701.

§47-701.
   
   (a) Any automobile club or other association may issue guaranteed
   arrest bond certificates valid for one (1) year from date of issue as
   provided in this act in an amount not to exceed Five Hundred Dollars
   ($500.00) on each undertaking, provided such certificates have been
   fully guaranteed or reinsured by an insurer then licensed by the
   Insurance Commissioner to transact surety business in this state and
   such guarantee or reinsurance by the insurer covers all certificates
   issued by the automobile club or other association during the term of
   the guarantee or reinsurance written by the insurer. Such insurer
   shall first file with the Insurance Commissioner an undertaking thus
   to become surety. Such guaranteed arrest bond certificates may be
   issued also in conjunction with automobile liability insurance
   policies by any insurer authorized to then write automobile liability
   insurance within this state upon such insurer filing with the
   Insurance Commissioner an undertaking thus to become such surety.
   
   (b) Such undertaking shall be in the form prescribed by the
   Commissioner of Insurance and shall state the following:
   
   (1) The name and address of the automobile clubs, association or
   companies with respect to the quaranteed arrest bond certificates of
   which the surety company undertakes to be surety.
   
   (2) The unqualified obligation of the surety company to pay the fine
   or forfeiture in an amount not to exceed Five Hundred Dollars
   ($500.00) of any person who, after posting a guaranteed arrest bond
   certificate with respect to which the surety company has undertaken to
   be surety, fails to make the appearance to guarantee which, the
   guaranteed arrest bond certificate was posted.
   
   (3) The term "guaranteed arrest bond certificate" as used herein means
   any printed card or other certificate issued by an automobile club,
   association or insurance company to any of its members or insureds,
   which card or certificate is signed by the member or insured and
   contains a printed statement that such automobile club, association or
   insurance company and a surety company or an insurance company
   authorized to transact both automobile liability insurance and surety
   business, guarantee the appearance of the person whose signature
   appears on the card or certificate and that they will in the event of
   failure of the person to appear in court at the time of trial, pay any
   fine or forfeiture imposed on the person in an amount not exceeding
   Five Hundred Dollars ($500.00).
   
   (c) Any guaranteed arrest bond certificate with respect to which a
   surety company has become surety, or a guaranteed arrest bond
   certificate issued by an insurance company authorized to transact both
   automobile liability insurance and surety business within this state,
   as herein provided, shall, when posted by the person whose signature
   appears thereon, be accepted in lieu of cash bail or other bond in an
   amount not to exceed Five Hundred Dollars ($500.00) as a bail bond, to
   guarantee the appearance of such person in any court in this state,
   including all municipal courts in this state, at such time as may be
   required by such court, when the person is arrested for violation of
   any motor vehicle law of this state or any motor vehicle ordinance of
   any municipality in this state, except for the offense of driving
   under the influence of intoxicating liquors or of drugs or for any
   felony committed prior to the date of expiration on such guaranteed
   arrest bond certificates; provided, that any such guaranteed arrest
   bond certificates so posted as bail bond in any court in this state
   shall be subject to the forfeiture and enforcement provisions with
   respect to bail bonds in criminal cases as otherwise provided by law
   or as hereafter may be provided by law, and that any such guaranteed
   arrest bond certificate posted as a bail bond in any municipal court
   of this state shall be subject to the forfeiture and enforcement
   provisions, if any, of the charter or ordinance of the particular
   municipality pertaining to bail bonds posted.
   
   (d) The State Insurance Commissioner shall notify in writing each
   chief of municipal police department, each county sheriff and each
   judge of the district court of this state, the name of each surety,
   insurance company, automobile club or association authorized to issue
   guaranteed arrest bond certificates, as provided in this act. The
   Insurance Commissioner shall also inform such officials of each
   additional organization which may thereafter become qualified to issue
   such certificates and in the event any such organization shall be
   disqualified from issuing such certificates, the Commissioner shall
   forthwith inform such officials of such disqualification.