The bill H. 4512 aims to amend the South Carolina Code of Laws by introducing new regulations regarding bond premiums and payment agreements for bondsmen. Specifically, it establishes that the bond premium cannot exceed fifteen percent of the bond's face value and mandates that bondsmen charge a minimum fee of either one hundred dollars or ten percent of the bond, whichever is greater, prior to executing the bond. Additionally, the bill allows for payment agreements that exceed ten percent of the bond, while also detailing the conditions under which these agreements can be made and enforced.

Furthermore, the bill amends Section 38-53-170 to remove certain limitations and restrictions on bond agreements, clarifying that conditions requiring payment beyond the premium are not considered part of the premium itself. It outlines the process for payment agreements, including the necessity for a minimum down payment and the steps a bondsman must take if payments are not made. The bill also includes provisions for collateral security and the handling of forfeited bonds, ensuring transparency and accountability in the bondsman's dealings. This legislation will take effect upon the Governor's approval.

Statutes affected:
05/06/2025: 38-53-175, 38-53-170
Latest Version: 38-53-175, 38-53-170