South Carolina Code 29-6-270. Credit rating of state in which surety company licensed
Current as of: 2023 | Check for updates
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Terms Used In South Carolina Code 29-6-270
- Contract: A legal written agreement that becomes binding when signed.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
For any contract for the improvement of real property not covered by the provisions of § 29-6-250, where a payment bond is required by the contract or otherwise, the bond may only be issued by a surety company licensed in the State with a "B+" minimum rating as stated in the most current publication of "Best Key Rating Guide, Property Liability".