South Carolina General Assembly
122nd Session, 2017-2018

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Indicates Matter Stricken
Indicates New Matter

S. 435

STATUS INFORMATION

General Bill
Sponsors: Senator Sheheen
Document Path: l:\council\bills\bh\7112ahb17.docx

Introduced in the Senate on February 16, 2017
Currently residing in the Senate Committee on Banking and Insurance

Summary: Bondsmen or runner

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   2/16/2017  Senate  Introduced and read first time (Senate Journal-page 7)
   2/16/2017  Senate  Referred to Committee on Banking and Insurance 
                        (Senate Journal-page 7)

View the latest legislative information at the website

VERSIONS OF THIS BILL

2/16/2017

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

A BILL

TO AMEND SECTION 38-53-170, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO UNLAWFUL ACTS BY A BONDSMAN OR RUNNER, SO AS TO PROHIBIT A BONDSMAN OR RUNNER FROM ACCEPTING ANYTHING OF VALUE FROM A PRINCIPAL EXCEPT THE PREMIUM THAT MUST BE COLLECTED BEFORE THE EXECUTION OF THE BOND, AND TO INCREASE THE MINIMUM FEE FROM TWENTY-FIVE DOLLARS TO ONE HUNDRED DOLLARS OR FIVE PERCENT, WHICHEVER IS GREATER.

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

SECTION    1.    Section 38-53-170(e) of the 1976 Code is amended to read:

"(e)    accept anything of value from a principal except the premium that must be collected before the execution of a bond, which may not exceed fifteen percent of the face amount of the bond, with a minimum fee of twenty-five one hundred dollars or five percent, whichever is greater. However, the bondsman is permitted to accept collateral security or other indemnity from the principal which must be returned upon final termination of liability on the bond. The bondsman shall identify who is paying the premium and shall represent that the collateral security or other indemnity has not been obtained from any person who has a greater interest in the principal's disappearance than appearance for trial. The collateral security or other indemnity required by the bondsman must be reasonable in relation to the amount of the bond;"

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

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This web page was last updated on February 17, 2017 at 4:03 PM