South Carolina Motor or Automobile Club Bonds
South Carolina Motor or Automobile Club Bond Information
A Motor Club Bond is a type of surety bond that serves as a security or special deposit method for motor clubs under Section 39-61-30 of the Code of Laws of South Carolina. Motor clubs must maintain security in the amount of $50,000 either as a cash or securities deposit as approved by the Administrator or a surety bond executed to the State of South Carolina. The surety bond is issued for the use of the State of South Carolina or any club members that may have a cause of action against the motor club.