S.C. Code Regs. § 79-36 - Reduction of Surety Bond or Other Approved Security Requirements

A licensee may, after twelve (12) months of increased surety bonding or other approved security requirements, petition the Board in writing for the surety bonding or other approved security requirement to be reduced. The written request must also include any corrective action which has been taken by the licensee to rectify the violation(s) which occurred. The Board, after reviewing the record of the licensee during the year of increased surety bonding or other approved security to determine if the violation(s) has been cured by corrective action and there have not been further violation(s), may reduce the surety bonding or other approved security requirement to a lesser amount or to the minimum as provided in the Act.

Notes

S.C. Code Regs. § 79-36

Added by State Register Volume 29, Issue No. 2, eff February 25, 2005.