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South Carolina bonds

South Carolina — Professional Solicitors Bond

South Carolina's professional solicitor registers and files $15,000 security before solicitation. A company registration also requires the appropriate individual solicitor registrations. Prepare the accepted undertaking with the company application, then file the charity contract and campaign notice at least ten days before covered activity.

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Recorded state
South Carolina
Bond type
Charitable Solicitation / Fundraiser Bond
Category
Business operations & taxes

What this bond does

Provide Secretary of State-approved professional solicitor security under Section 33-56-110(F) of the Solicitation of Charitable Funds Act.

Who needs it
The compensated professional solicitor or its employer named in the registration. A qualifying partnership or corporation may use a consolidated undertaking for its members, officers and employees; that does not remove the separate individual registration requirement.
Who it protects
The statute and prescribed model benefit South Carolina, the Secretary's appropriate division and persons with covered losses from solicitation malfeasance, nonfeasance or misfeasance. The model conditions security on compliance with the Act and its rules, regulations, orders and amendments. Its $15,000 aggregate applies to each registration period, with each renewal treated as a separate period.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Details for company registration and the period limit

File the accepted $15,000 undertaking at application, with the list of professional solicitors operating under it, and maintain security while registration is effective. Section 33-56-110 identifies the applicant or its employer as principal and permits a consolidated partnership/corporate undertaking. Match the covered company and people instead of buying in a charity's name.

The Secretary's currently linked company application requires the CEO/President and CFO/Treasurer to sign in their actual listed capacities. Complete all required attachments: legal/DBA information, officers/directors and recent history, employees, charity contracts, other-state registrations and required disclosures. The separate individual solicitor application is not replaced by the company's document.

The prescribed bond identifies the principal, authorized surety, bond number, dated execution and principal/surety signatures with notarial completion. It is continuing through initial and renewal registrations, but its aggregate is $15,000 in each registration period. Registration lasts one year; use the actual period rather than importing another state's annual expiry date.

The model permits termination by thirty days' written notice from the surety to the obligee or the obligee's written authorization to the surety, with a copy to the principal. Keep replacement security in place for continued registration and use the notice directions in the accepted undertaking.

File the written charity contract and completed notice at least ten days before the covered activity. Both parties must be registered as required. File the jointly signed campaign financial report within ninety days after completion, or within ninety days after the anniversary of a campaign exceeding a year. Keep required fiscal records at least three years after the related registration period ends.

Sources

Have these ready

  1. Identify the professional solicitor or employer principal and everyone operating under the undertaking.
  2. Prepare the accepted $15,000 condition and actual one-year registration dates.
  3. Arrange principal/surety signatures, required notarial execution and the actual bond number.
  4. Complete CEO/President and CFO/Treasurer application signatures, attachments and individual solicitor registrations.
  5. Plan the ten-day contract/notice lead time, joint financial reports and fiscal-record retention.

Questions about this bond

Does the company filing replace each individual solicitor's registration?

No. The Secretary's programme requires individuals working for a professional solicitor company to register annually as well. Match the list of people operating under the security and prepare the separate applications.

Is the $15,000 limit one aggregate for every future renewal?

The actual model says the aggregate applies in each registration period and treats each renewal as a separate period. It is a continuing undertaking, but that does not make its limit identical to another state's all-years aggregate.

What follows Purchase Now?

Propeller's South Carolina Professional Solicitors application opens in a new tab. Match the principal, covered people, accepted $15,000 condition, registration period and execution, then complete Secretary of State registration and campaign filings. Payment does not register the company or its individual solicitors.

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