Bill 147

                    Current Status

Introducing Body:               Senate
Bill Number:                    147
Primary Sponsor:                Land
Committee Number:               12
Type of Legislation:            GB
Subject:                        Contractors, bond in lieu of
                                financial statement
Residing Body:                  Senate
Current Committee:              Labor, Commerce &
                                Industry
Computer Document Number:       OLDVS/LIBOO/1969
Introduced Date:                Jan 08, 1991
Last History Body:              Senate
Last History Date:              Jan 08, 1991
Last History Type:              Introduced and read first time,
                                referred to Committee
Scope of Legislation:           Statewide
All Sponsors:                   Land
Type of Legislation:            General Bill

 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 147   Senate  Jan 08, 1991  Introduced and read first       12
                             time, referred to Committee
 147   Senate  Sep 17, 1990  Prefiled, referred to           12
                             Committee

A BILL

TO AMEND SECTION 40-11-160, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO FINANCIAL STATEMENTS REQUIRED OF CONTRACTORS, SO AS TO PROVIDE THAT A BOND MAY BE PROVIDED IN LIEU OF A FINANCIAL STATEMENT.

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

SECTION 1. Section 40-11-160 of the 1976 Code is amended to read:

"Section 40-11-160. The board shall not issue a license to any contractor above the Group I level as this is defined by regulation of the board until such the contractor furnished furnishes the board with a financial statement certified by a certified public accountant or a public accountant or provides a bond."

SECTION 2. This act takes effect upon approval by the Governor.