The securities deposited by a professional bondsman with the clerk of court must be held in trust for the sole protection and benefit of the holder of bail bonds executed by or on behalf of the undersigned bondsman in this State. A pro rata portion of the securities must be returned to the bondsman when the clerk of court is satisfied that the deposit of securities is in excess of the amount required to be maintained with him by the bondsman. All the securities must be returned if the clerk of court is satisfied that the bondsman has satisfied, or satisfactory arrangements have been made to satisfy, the obligations of the bondsman on all of his bail bonds written in the State. The clerk of court may sell or transfer any of the securities or utilize the proceeds of the securities for the purpose of satisfying the liabilities of the professional bondsman on bail bonds given in this State on which he is liable.
HISTORY: Former 1976 Code Section 38-63-290 [1985 Act No. 189, Section 1] recodified as Section 38-53-280 by 1987 Act No. 155, Section 1; 1998 Act No. 425, Section 2.
Structure South Carolina Code of Laws
Chapter 53 - Bail Bondsmen And Runners
Section 38-53-10. Definitions.
Section 38-53-20. Enforcement of chapter.
Section 38-53-30. Validity of undertakings.
Section 38-53-40. Qualifications of surety.
Section 38-53-50. Surety relieved on bond; surrender of defendant; filing of new undertaking.
Section 38-53-60. Arrest of defendant.
Section 38-53-70. Issuance of bench warrant; remission of judgment.
Section 38-53-80. License required of bail bondsman and runners.
Section 38-53-85. Educational requirements for applicants; examination; exemption from requirement.
Section 38-53-90. Qualifications for licensure of professional bondsman, surety bondsman or runner.
Section 38-53-95. Address requirements for bondsman or runner license.
Section 38-53-102. Suspension of license.
Section 38-53-110. Financial statement required; examination.
Section 38-53-120. Additional requirements of runners.
Section 38-53-140. Expiration of license; renewal license.
Section 38-53-150. Denial, suspension, revocation, or refusal to renew license; monetary penalty.
Section 38-53-160. Notice and hearing required; right to appeal.
Section 38-53-170. Unlawful acts.
Section 38-53-180. Receipt for collateral required.
Section 38-53-190. Certain persons not allowed to be surety; exceptions.
Section 38-53-200. Power of attorney.
Section 38-53-210. Insurers shall supply list of surety bondsmen; termination of appointment.
Section 38-53-230. Professional bondsmen to supply list of runners; termination of appointment.
Section 38-53-240. Substitution of bail by sureties.
Section 38-53-250. Requirements for discharge of custody; substitution of undertaking.
Section 38-53-260. Registration of license and power of appointment.
Section 38-53-270. Professional bondsmen required to maintain security deposits with clerk of court.
Section 38-53-280. Securities held in trust.
Section 38-53-290. Professional bondsman shall deliver power of attorney to clerk of court; form.
Section 38-53-300. Reduction in value of securities.
Section 38-53-310. Written report to be filed with clerk of court.
Section 38-53-320. Examination by professional and surety bondsman.