South Carolina Statutes
§ 37-16-20 — Registration; bond or letter of credit.
Before commencing business in South Carolina, regardless of the means of doing business, any prepaid legal services company must register with the department on a form prescribed by the department. The form must be accompanied by a bond or letter of credit acceptable to the department in the amount of fifty thousand dollars, which must remain in force so long as the prepaid legal services company does business in South Carolina. The amount of the bond or letter of credit may only be increased by regulation.
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South Carolina § 37-16-20 (Registration; bond or letter of credit.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 2000 Act No. 328, SECTION 1, eff July 1, 2000.
Nearby Sections
9
§ 37-16-10
Definitions.§ 37-16-20
Registration; bond or letter of credit.§ 37-16-50
Prior approval of contracts; required provisions as to selection of attorney; approval process.§ 37-16-60
Complaints.§ 37-16-90
Promulgation of rules and regulations.