South Carolina General Assembly
115th Session, 2003-2004

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H. 3036

STATUS INFORMATION

General Bill
Sponsors: Rep. Altman
Document Path: l:\council\bills\bbm\9328zw03.doc

Introduced in the House on January 14, 2003
Currently residing in the House Committee on Judiciary

Summary: Bondsman, maintenance of security deposit, amount revised

HISTORY OF LEGISLATIVE ACTIONS 

     Date      Body   Action Description with journal page number
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   12/4/2002  House   Prefiled
   12/4/2002  House   Referred to Committee on Judiciary
   1/14/2003  House   Introduced and read first time HJ-23
   1/14/2003  House   Referred to Committee on Judiciary HJ-23

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

12/4/2002

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

A BILL

TO AMEND SECTION 38-53-270, 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 is 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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