A motor fuel licensee may furnish the department with a statement of assets and liabilities, and if in the judgment of the department the property owned by the motor fuel licensee is sufficient to protect the State in the payment of all motor fuel user fees due, a bond is not required.
S.C. Code Ann. § 12-28-2520
Motor fuel licensee bond exemption based on statement of assets and liabilities
1995 Act No. 136, SECTION 2; 1996 Act No. 461, SECTION 4Z.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.