2010-01 Requirements for Professional Bail Bondsmen

TO: DATE: South Carolina Department of Insurance BULLETIN 2010-01 Requirements for Professional Bail Bondsmen February 2010 I. PURPOSE MARK SANFORD Governor SCOTT H. RICHARDSON Director Court This bulletin addresses concerns expressed by the South Carolina Supreme Court, Court Administration and the South Carolina Clerk of Court Advisory Board about the conduct of certain professional bondsmen. It is also intended to remind professional bondsmen of their statutory responsibilities under Chapter 53 of Title 38. II. DISCUSSION A. Executing bonds in excess of the bonding authority given by the clerk of court is a violation of South Carolina law. of as encumbered. violation of brought to attention by court. will be subject penalties set forth in Section 10. Administrative penalties will be instituted for each violation of the insurance laws. B. South Carolina law requires professional bondsmen to file a monthly report by the fifteenth of every month. Section 10 requires each professional bondsman to file a report by the fifteenth of the month \Vith the clerk of court of the county of his principal place of business and any other county in which he does business a written report. There are no exceptions to this requirement Reports must be submitted by the statutory deadline each month. Effective immediately, the Department will impose the penalties set fotth in Section 38-2-10 for violations of Section 38- 10 for each report submitted late. Attached as an exhibit to this report is the form that must be submitted monthly to the clerks of court in each county in which business is transacted. C. Encumbered assets cannot be pledged as collateral. deposits tiled with the clerk. It be IlL QUESTIONS