Current Status Introducing Body:
SenateBill Number: 540Ratification Number: 346Act Number: 311Primary Sponsor: PopeType of Legislation: GBSubject: Surety company, filing requirementsDate Bill Passed both Bodies: Mar 26, 1992Computer Document Number: NO5/7158.BDGovernor's Action: SDate of Governor's Action: Apr 08, 1992Introduced Date: Jan 23, 1991Last History Body: ------Last History Date: Apr 08, 1992Last History Type: Act No. 311Scope of Legislation: StatewideAll Sponsors: PopeType of Legislation: General Bill
Bill Body Date Action Description CMN ---- ------ ------------ ------------------------------ --- 540 ------ Apr 08, 1992 Act No. 311 540 ------ Apr 08, 1992 Signed by Governor 540 ------ Apr 02, 1992 Ratified R 346 540 House Mar 26, 1992 Read third time, enrolled for ratification 540 House Mar 25, 1992 Read second time 540 House Mar 18, 1992 Committee Report: Favorable 26 540 House Apr 25, 1991 Introduced, read first time, 26 referred to Committee 540 Senate Apr 24, 1991 Read third time, sent to House 540 Senate Apr 23, 1991 Read second time, unanimous consent for third reading on Wednesday, April 24 540 Senate Apr 17, 1991 Committee Report: Favorable 11 540 Senate Jan 23, 1991 Introduced, read first time, 11 referred to CommitteeView additional legislative information at the LPITS web site.
(A311, R346, S540)
AN ACT TO AMEND SECTION 17-15-230, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE FILING REQUIREMENTS FOR A SURETY COMPANY WITH RESPECT TO GUARANTEED ARREST BOND CERTIFICATES ISSUED BY AN AUTOMOBILE CLUB OR ASSOCIATION, SO AS TO INCREASE THE LIMIT OF THE COMPANY'S OBLIGATION FROM FIVE HUNDRED TO ONE THOUSAND FIVE HUNDRED DOLLARS.
Be it enacted by the General Assembly of the State of South Carolina:
Limit of surety company's obligation increased
SECTION 1. Section 17-15-230 of the 1976 Code is amended to read:
"Section 17-15-230. (A)(1) A domestic or foreign surety company qualified to transact business in this State may become a surety by filing with the Department of Insurance an undertaking to become surety of not more than one thousand five hundred dollars with respect to each guaranteed arrest bond certificate issued by an automobile club or association.
(2) The undertaking must be in a form to be prescribed by the department and must state the:
(a) name and address of the automobile club or automobile association with respect to which the surety company undertakes to guarantee the arrest bond certificates;
(b) unqualified obligation of the surety company to pay the fine or forfeiture of not more than one thousand five hundred dollars of a person who, after posting a guaranteed arrest bond certificate which the surety has undertaken to guarantee, fails to make the appearance for which the guaranteed arrest bond certificate was posted.
(B)(1) A guaranteed arrest bond certificate guaranteed by a surety company pursuant to this section must be accepted in lieu of cash bail or other bond of not more than one thousand five hundred dollars as a bail bond, when signed by the person whose signature appears on the certificate, to guarantee the appearance of that person in a court in this State at the time set by the court when the person is arrested for the violation of a motor vehicle law of the State or a motor vehicle ordinance of a municipality of this State. The guaranteed arrest bond certificate does not apply to and must not be accepted in lieu of cash bail or bond when the person has been arrested for an offense of driving under the influence of intoxicating liquors or drugs or for a felony.
(2) A guaranteed arrest bond certificate that is posted as a bail bond in a court is subject to the forfeiture and enforcement provisions with respect to bail bonds in criminal cases provided in this chapter."
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 8th day of April, 1992.