Final answer:
A professional bondsman must provide the Commissioner with an itemized list detailing the par and market values of stocks or bonds used as a security deposit, along with an assignment or power of attorney. This assures the Commissioner that the public's security interests are safeguarded.
Step-by-step explanation:
When a professional bondsman uses stocks or bonds as a security deposit, they must provide the Commissioner with authorization in the form of a detailed list of the securities, including the par value and market value of each. This submission should also be accompanied by an assignment or power of attorney that enables the Commissioner to transfer these securities in the event of default. In some jurisdictions, the bondsman may be required to obtain a collateral security interest or trust receipt from a financial institution, assuring the Commissioner that the security interests of the public are protected.
The comprehensive report should include any additional details as required by the applicable laws and regulations, such as serial numbers or other unique identifiers of the stocks or bonds, statements from the issuing authority confirming their validity, and evidence of ownership. These requirements ensure clarity and enforceability and protect all parties involved in the bail bonds process.