(A) No later than March first of each year, commencing immediately after registration required by § 37-16-20, a prepaid legal services company registered with the department must file on a form prescribed by the department an updated registration statement to include a sworn affirmation as to continuation of the bond or letter of credit required by § 37-16-20.

(B) In connection with its annual registration, the prepaid legal services company must pay a registration fee of eight hundred dollars which the department may utilize for purposes of administering this chapter.

Terms Used In South Carolina Code 37-16-40

  • Department: means the Department of Consumer Affairs. See South Carolina Code 37-16-10
  • Prepaid legal services: means legal services or reimbursement for legal services provided by an individual licensed or admitted to practice law in the jurisdiction in which the services are to be rendered, and which are provided in return for a predetermined, specified, periodic fee. See South Carolina Code 37-16-10
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