Current Status Introducing Body:
HouseBill Number: 3705Ratification Number: 282Act Number: 268Primary Sponsor: QuinnType of Legislation: GBSubject: Secretary of State, bonds, charitiesDate Bill Passed both Bodies: Feb 12, 1992Computer Document Number: BBM/9281.JMGovernor's Action: SDate of Governor's Action: Feb 24, 1992Introduced Date: Mar 19, 1991Date of Last Amendment: Feb 05, 1992Last History Body: ------Last History Date: Feb 24, 1992Last History Type: Act No. 268Scope of Legislation: StatewideAll Sponsors: Quinn H. Brown Corning Wright BeasleyType of Legislation: General Bill
Bill Body Date Action Description CMN ---- ------ ------------ ------------------------------ --- 3705 ------ Feb 24, 1992 Act No. 268 3705 ------ Feb 24, 1992 Signed by Governor 3705 ------ Feb 18, 1992 Ratified R 282 3705 House Feb 12, 1992 Concurred in Senate amendment, enrolled for ratification 3705 Senate Feb 06, 1992 Read third time, returned to House with amendment 3705 Senate Feb 05, 1992 Amended, read second time 3705 Senate Jan 29, 1992 Committee Report: Favorable 11 with amendment 3705 Senate May 14, 1991 Introduced, read first time, 11 referred to Committee 3705 House May 10, 1991 Read third time, sent to Senate 3705 House May 09, 1991 Unanimous consent for third reading on next Legislative day 3705 House May 09, 1991 Read second time 3705 House May 01, 1991 Committee Report: Favorable 27 3705 House Mar 19, 1991 Introduced, read first time, 27 referred to CommitteeView additional legislative information at the LPITS web site.
(A268, R282, H3705)
AN ACT TO AMEND SECTION 33-55-120, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO CHARITABLE ORGANIZATIONS, SOLICITATION OF CHARITABLE FUNDS, REGISTRATION OF PROFESSIONAL FUND-RAISING COUNSEL AND PROFESSIONAL SOLICITORS, REGISTRATION FEE, AND BONDS, SO AS TO INCREASE THE AMOUNT OF THE BOND FROM FIVE THOUSAND TO EIGHT THOUSAND DOLLARS, AND PROVIDE THAT A DEPOSIT OF CASH IN THE AMOUNT OF EIGHT THOUSAND DOLLARS MAY BE ACCEPTED BY THE SECRETARY OF STATE IN LIEU OF THE BOND.
Be it enacted by the General Assembly of the State of South Carolina:
Bond increased; cash deposit authorized
SECTION 1. The second paragraph of Section 33-55-120 of the 1976 Code is amended to read:
"The applicant, at the time of making application, shall file with and have approved by the Secretary of State a bond in which the applicant is the principal obligor in the sum of eight thousand dollars with one or more sureties satisfactory to the Secretary of State, whose liability in the aggregate as such sureties will at least equal the sum and maintain the bond in effect so long as a registration is in effect; however, a deposit of cash in the amount of eight thousand dollars may be accepted in lieu of the bond. The bond shall run to the State of South Carolina for the use of the division and any person who may have a cause of action against the obligor of the bonds for any losses resulting from malfeasance, nonfeasance, or misfeasance in the conduct of solicitation activities. A partnership or corporation which is a professional fund-raising counsel or professional solicitor may file a consolidated bond on behalf of all its members, officers, and employees."
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 24th day of February, 1992.