South Carolina Code 38-53-110. Financial statement required; examination
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Terms Used In South Carolina Code 38-53-110
- Director: means the person who is appointed by the Governor upon the advice and consent of the Senate and who is responsible for the operation and management of the department. See South Carolina Code 38-1-20
- insurance: includes annuities. See South Carolina Code 38-1-20
- License: means a document issued by the state's director or his designee authorizing a person to act as an insurance producer for the lines of authority specified in the document. See South Carolina Code 38-1-20
- Oath: A promise to tell the truth.
- Professional bondsman: means any person who is approved and licensed under the provisions of this chapter and who pledges cash or approved securities with the clerk of court as security for bail bonds written in connection with a judicial proceeding and receives or is promised money or other things of value for the pledge. See South Carolina Code 38-53-10
In addition to the other requirements of this chapter, every year, by March first, an applicant for a professional bondsman‘s license shall furnish a detailed financial statement under oath and in a form as the director or his designee may require. The statement is subject to the same examination as is prescribed by law for domestic insurance companies.