South Carolina General Assembly
114th Session, 2001-2002

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Bill 3234

Indicates Matter Stricken
Indicates New Matter

                    Current Status

Bill Number:                      3234
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20010110
Primary Sponsor:                  Altman
All Sponsors:                     Altman
Drafted Document Number:          l:\council\bills\skb\18054som01.doc
Residing Body:                    House
Current Committee:                Judiciary Committee 25 HJ
Subject:                          Bondsman, maintenance of security 
                                  deposits with clerk of court; amount to 
                                  maintain as deposit revised; Courts, Bonds


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20010110  Introduced, read first time,           25 HJ
                  referred to Committee


              Versions of This Bill
View additional legislative information at the LPITS web site.

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 38-53-270, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO A PROFESSIONAL BONDSMAN'S MAINTENANCE OF SECURITY DEPOSITS WITH THE CLERK OF COURT, SO AS TO REVISE THE AMOUNT A PROFESSIONAL BONDSMAN SHALL MAINTAIN AS A DEPOSIT WITH A CLERK OF COURT.

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

SECTION    1.    Section 38-53-270 of the 1976 Code, as last amended by Act 425 of 1998, is further amended to read:

    "Section 38-53-270.    Each professional bondsman acting as surety on bail bonds in this State shall maintain security deposits with the clerk of court of the county in which the bondsman has his primary place of business equal to at least one-fourth one-tenth of the amount of all bonds or undertakings written in this State on which he is absolutely or conditionally liable as of the first day of the current month. A minimum of ten thousand dollars of this collateral shall be in the form of cash deposited with the clerk of court or certificates of deposit pledged to the clerk of court. Any remaining collateral shall be pledges of real estate, the value of which shall be based upon the appraised value by the county tax assessor. The real estate shall be free and clear of any encumbrances based upon a title opinion furnished to the clerk of court by the bondsman."

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

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