LA. BONDSMAN LOSES LICENSES:

A bail bond agent operating in the Greater New Orleans area has signed a Louisiana Department of Insurance “Consent to Voluntary Revocation” document revoking all producer licenses he previously held. On Sept. 17, 2003, Department of Insurance Fraud Unit investigators served insurance agent Louis M. Marcotte, III and Bail Bonds Unlimited Inc., 1011 Fourth St. or 221 Derbigny Street, in Gretna, with a cease and desist order and a summary suspension of all bail bond and insurance licenses. The C&D order listed a number of violations of the Louisiana Insurance Code, including failing to remit to the company premiums collected on bail bonds, failing to pay bail forfeitures and allowing a bail bond agency to operate without an insurance license. Producer licenses listed in the voluntary revocation order include Louis M. Marcotte, III’s personal license, AAAA Bails Bonds & Recovery, 1011 Fourth St., Gretna, and Producer Licenses of Bail Bonds Unlimited Inc., of which Marcotte is 100 percent owner. The following trade names and locations are affected: (no trade name) 221 Derbigny St., Gretna; and Jefferson Parish Bail Bonds, Angelinas Bail Bonds, Freddie Haddad Bail Bonds, Budget Bail Bonds, Destiny Bail Bonds, Plaquemines Bail Bonds, and AA Bail Bonds, all at 1011 Fourth St., Gretna. Also included were producer licenses of Marcotte National Inc., A Aaron Bail Bonds Inc., and AAAAA Bail Bonds Inc., also at 1011 Fourth St., Gretna.