South Carolina General Assembly
109th Session, 1991-1992

Bill 3705


                    Current Status

Introducing Body:               House
Bill Number:                    3705
Ratification Number:            282
Act Number:                     268
Primary Sponsor:                Quinn
Type of Legislation:            GB
Subject:                        Secretary of State, bonds,
                                charities
Date Bill Passed both Bodies:   Feb 12, 1992
Computer Document Number:       BBM/9281.JM
Governor's Action:              S
Date of Governor's Action:      Feb 24, 1992
Introduced Date:                Mar 19, 1991
Date of Last Amendment:         Feb 05, 1992
Last History Body:              ------
Last History Date:              Feb 24, 1992
Last History Type:              Act No. 268
Scope of Legislation:           Statewide
All Sponsors:                   Quinn
                                H. Brown
                                Corning
                                Wright
                                Beasley
Type of Legislation:            General Bill

History


 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 Committee

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

(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."

Time effective

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

Approved the 24th day of February, 1992.