New York State enacted legislation today (July 18, 2012) that allows the creation of charitable organizations which could post up to $2,000 in bail for low-income defendants charged with misdemeanor crimes.
The law allows a new type of entity, charitable bail organizations, to function with fewer requirements but still under the oversight and regulation of the Department of Financial Services. Previously, organizations that posted bail on behalf of a defendant had to meet the state law requirements designed to regulate for-profit corporations engaged full-time in the bail bond business.
Charitable bond organizations will be required to register as a 501(c) (3) organization and may not charge a premium or fee for their services.
The law takes effect in 90 days.
More on the new law can be found here.
