A literal reading of this section seems to answer the question directly by making it an illegal practice for an attorney to profit from the sale of bail bonds.
Illegal conduct is per se unethical.
The interpretation and application of the Insurance Law are not within the jurisdiction of this Committee. The opinion went on to state that the statutory language should not be construed as disqualifying a practicing attorney, who desires to perform the usual and ordinary functions of an agent, from obtaining a license as a bail bond agent of a recognized insurance company. Ordinarily, the only financial interest which a bail bond agent, whether or not a member of the Bar, would have in furnishing a bail bond, would be the usual and regular commission to be received upon the premiums for the bond. Att'y Gen. 200. Assuming there is no legal impediment to an attorney acting as a bail bond agent or having an interest as a shareholder in an insurance agency that sells bail bonds, the ethical issues turn on a number of factors.