Bill 961

                    Current Status

Bill Number:               961
Ratification Number:       730
Act Number                 549
Introducing Body:          Senate
Subject:                   Interest on bail bond money

(A549, R730, S961)

AN ACT TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 17-15-240 SO AS TO ALLOW BAIL BOND MONEY TO BE DEPOSITED IN INTEREST-BEARING ACCOUNTS, TO PROVIDE THAT THE INTEREST ON THESE ACCOUNTS IS PUBLIC FUNDS, TO PROVIDE FOR THE DISTRIBUTION OF THE INTEREST, AND TO AUTHORIZE SOUTH CAROLINA COURT ADMINISTRATION TO PRESCRIBE PROCEDURES FOR HANDLING AND ACCOUNTING FOR BAIL BOND INTEREST.

Be it enacted by the General Assembly of the State of South Carolina:

Interest on bail bond money

SECTION 1. Chapter 15, Title 17 of the 1976 Code is amended by adding:

"Section 17-15-240. Court officers authorized by law to receive bail bond money may deposit that money in interest-bearing accounts in a financial institution in which deposits are insured by an agency of the United States government. The interest earned on the accounts is considered public funds and must be distributed as follows:

(1) Interest on bail bond money received for offenses triable in municipal court or held for transmittal to the county clerk of court must be credited to the general fund of the municipality.

(2) Interest on bail bond money received for offenses triable in magistrate's court or held for transmittal to the county clerk of court must be credited to the general fund of the county.

(3) Interest on bail bond money received by the county clerk of court for offenses triable in family and circuit court must be credited to the general fund of the county.

South Carolina Court Administration shall prescribe appropriate procedures for handling and accounting for bail bond interest."

Time effective

SECTION 2. This act takes effect July 1, 1990.

Approved the 25th day of June, 1990.