"Pawnbroker Surety Bond" - South Carolina

Pawnbroker Surety Bond is a legal document that was released by the South Carolina Department of Consumer Affairs - a government authority operating within South Carolina.

Form Details:

  • Released on May 1, 2021;
  • The latest edition currently provided by the South Carolina Department of Consumer Affairs;
  • Ready to use and print;
  • Easy to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of the form by clicking the link below or browse more documents and templates provided by the South Carolina Department of Consumer Affairs.

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PAWNBROKER SURETY BOND
STATE OF _____________________
BOND NUMBER ______________
KNOW ALL MEN BY THESE PRESENTS, that we _______________________________, as
Principal of _________________________________________ (Business Name and DBA), and
________________________________________________, a Surety Company authorized to do
business in the State of South Carolina are held and firmly bound unto the South Carolina
Department of Consumer Affairs, the State of South Carolina, and any pledgor or consumer
sustaining loss or damage within the terms of this bond for payment in full and just sum of Sixteen
Thousand, Two-Hundred Seventy-Five Dollars ($16,275), to which payment we bind ourselves
and each and every one of us, our heirs, executors, administrators, successors and assigns, jointly
and severally, firmly by these presents.
WHEREAS, Section 40-39-50 of the Code of Laws of South Carolina, 1976, as amended, requires
that a pawnbroker deposit and thereafter continuously maintain a bond in the amount of Sixteen
Thousand, Two-Hundred Seventy-Five Dollars ($16,275).
AND WHEREAS, the above-bonded Principal is seeking a certificate of authority to carry on the
business of a pawnbroker in accordance with the laws of the State of South Carolina and desires
to deposit with the Administrator a good and solvent bond in the sum of Sixteen Thousand, Two-
Hundred Seventy-Five Dollars ($16,275) and does by this instrument furnish that bond.
NOW, THEREFORE, the condition of this bond is such that if the above-bonded Principal has
failed to comply with the South Carolina Pawnbroker Act, S.C. Code Ann. § 40-39-10 et seq. and
any regulations promulgated thereunder or if any person is aggrieved by the Principal’s misconduct
as determined by the Administrator or a court of competent jurisdiction after notice and
opportunity for hearing, then the Beneficiaries (South Carolina Department of Consumer Affairs,
State of South Carolina, and any pledgor or consumer sustaining loss or damage) are entitled to
the sum of Sixteen Thousand, Two-Hundred Seventy-Five Dollars ($16,275).
This bond is in full force and effect as to the statutory and regulatory obligations of the Principal
for the period of ______________________ through ____________________ unless renewed by
continuation certificate. It is understood and agreed that regardless of the number of years this
bond may remain in force or the number of claims against this bond, the liability of the Surety
shall not be cumulative and the aggregate liability of the Surety for any and all claims shall not
exceed the penal sum of this bond.
PROVIDED, HOWEVER, that liability hereunder may be terminated either (a) by written notice
from the Surety to the Administrator that liability shall terminate upon the expiration of forty-five
(45) days from the date of such notice, or (b) upon written authorization mailed to the Surety by
the Administrator. This provision, however, shall not operate to relieve, release, or discharge the
Surety from any liability already accrued or which shall accrue before the expiration of the forty-
five (45) day period.
Pawnbroker Bond
Rev. 05/2021
PAWNBROKER SURETY BOND
STATE OF _____________________
BOND NUMBER ______________
KNOW ALL MEN BY THESE PRESENTS, that we _______________________________, as
Principal of _________________________________________ (Business Name and DBA), and
________________________________________________, a Surety Company authorized to do
business in the State of South Carolina are held and firmly bound unto the South Carolina
Department of Consumer Affairs, the State of South Carolina, and any pledgor or consumer
sustaining loss or damage within the terms of this bond for payment in full and just sum of Sixteen
Thousand, Two-Hundred Seventy-Five Dollars ($16,275), to which payment we bind ourselves
and each and every one of us, our heirs, executors, administrators, successors and assigns, jointly
and severally, firmly by these presents.
WHEREAS, Section 40-39-50 of the Code of Laws of South Carolina, 1976, as amended, requires
that a pawnbroker deposit and thereafter continuously maintain a bond in the amount of Sixteen
Thousand, Two-Hundred Seventy-Five Dollars ($16,275).
AND WHEREAS, the above-bonded Principal is seeking a certificate of authority to carry on the
business of a pawnbroker in accordance with the laws of the State of South Carolina and desires
to deposit with the Administrator a good and solvent bond in the sum of Sixteen Thousand, Two-
Hundred Seventy-Five Dollars ($16,275) and does by this instrument furnish that bond.
NOW, THEREFORE, the condition of this bond is such that if the above-bonded Principal has
failed to comply with the South Carolina Pawnbroker Act, S.C. Code Ann. § 40-39-10 et seq. and
any regulations promulgated thereunder or if any person is aggrieved by the Principal’s misconduct
as determined by the Administrator or a court of competent jurisdiction after notice and
opportunity for hearing, then the Beneficiaries (South Carolina Department of Consumer Affairs,
State of South Carolina, and any pledgor or consumer sustaining loss or damage) are entitled to
the sum of Sixteen Thousand, Two-Hundred Seventy-Five Dollars ($16,275).
This bond is in full force and effect as to the statutory and regulatory obligations of the Principal
for the period of ______________________ through ____________________ unless renewed by
continuation certificate. It is understood and agreed that regardless of the number of years this
bond may remain in force or the number of claims against this bond, the liability of the Surety
shall not be cumulative and the aggregate liability of the Surety for any and all claims shall not
exceed the penal sum of this bond.
PROVIDED, HOWEVER, that liability hereunder may be terminated either (a) by written notice
from the Surety to the Administrator that liability shall terminate upon the expiration of forty-five
(45) days from the date of such notice, or (b) upon written authorization mailed to the Surety by
the Administrator. This provision, however, shall not operate to relieve, release, or discharge the
Surety from any liability already accrued or which shall accrue before the expiration of the forty-
five (45) day period.
Pawnbroker Bond
Rev. 05/2021
IN WITNESS whereof the Principal and Surety have set their hands and affixed their seals in the
manner and form following:
In the presence of two witnesses as to Principal:
________________________________________
1. ____________________________________
Principal’s Signature
2. ____________________________________
________________________________________
Print Name
In the presence of two witnesses as to Surety:
________________________________________
1. ____________________________________
Signature of Surety
2. ____________________________________
________________________________________
Title
(Affix Corporate Seal)
WITNESS AS TO PRINCIPAL:
STATE OF ____________________________
COUNTY OF __________________________
Before me, the subscribing Notary Public, personally appeared _________________________ (Witness 1)
and made oath that he/she saw the within named _______________________________ (Principal) sign,
seal, and deliver the within Bond and that he/she with _______________________________ (Witness 2)
subscribed their names as witnesses thereto.
____________________________________
Signature of Witness 1
Sworn to and subscribed before me this
_____ day of ________________, 20____.
__________________________________
Notary Public
WITNESS AS TO SURETY:
STATE OF ____________________________
COUNTY OF __________________________
Before me, the subscribing Notary Public, personally appeared _________________________ (Witness 1)
and made oath that he/she saw the within named _______________________________ (Surety Signer)
sign, seal, and deliver the within Bond and that he/she with ____________________________ (Witness 2)
subscribed their names as witnesses thereto.
____________________________________
Signature of Witness 1
Sworn to and subscribed before me this
_____ day of ________________, 20____.
__________________________________
Notary Public
Pawnbroker Bond
Rev. 05/2021
SURETY INFORMATION
Persons executing for the Surety, other than corporate officers, must attach a Power of Attorney
authorizing such person to execute surety bonds for the Surety.
Provide the following contact information of the Surety in the event there is a question about the
bond or a claim must be filed.
Contact Information for Surety:
For questions about the bond:
Contact Name:
Contact Title:
Contact Telephone No.:
Contact E-mail:
For filing a claim:
Surety Name:
Mailing Address:
City, State, Zip:
Contact Information for the Department:
S.C. Department of Consumer Affairs
ATTN: Legal Division (Pawnbroker)
P.O. Box 5757
Columbia, S.C. 29250-5757
Telephone No.: (803)734-4249
Pawnbroker Bond
Rev. 05/2021
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