South Carolina Statutes
§ 39-61-30 — Deposit of cash, securities, or bonds.
A club may not render or agree to render a motor club service without first depositing and thereafter continuously maintaining the amount of fifty thousand dollars in cash or securities approved by the Administrator or, in lieu thereof, a bond in the amount of fifty thousand dollars executed by a surety company authorized by the laws of this State to transact business within this State. The bond must be executed to the State of South Carolina and must be for the use of the State and for any members who may have a cause of action against the club.
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South Carolina § 39-61-30 (Deposit of cash, securities, or bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1987 Act No. 155, SECTION 6, eff January 1, 1988.
Nearby Sections
15
§ 39-61-10
Short title.§ 39-61-110
Requirements of service contracts.§ 39-61-140
Restrictions on advertising.§ 39-61-160
Authority of administrator.§ 39-61-170
Violations; penalties.§ 39-61-190
Incidental services.§ 39-61-20
Definitions.§ 39-61-200
Attorney's fees.§ 39-61-30
Deposit of cash, securities, or bonds.§ 39-61-40
Security; required assurances.