Section 58-22-24 - Deposit by professional bondsman with director--Amount--Law governing--Waiver forperson authorized to countersign for bail bondsman. - South Dakota Statutes

58-22-24. Deposit by professional bondsman with director--Amount--Law governing--Waiver for person authorized to countersign for bail bondsman. Professional bondspersons shall, before writing cash or security bail bonds, deposit with the director in the same manner as required of domestic insurers, an amount determined by the director of not less than ten thousand dollars and an amount necessary to cover forfeitures as required to be filed with the director annually. Such deposit is subject to all laws, rules, and regulations concerning deposits by domestic insurers. The director may waive the deposit requirement contained in this section for a person authorized pursuant to § 58-22-37 to countersign for a bail bondsperson.

Source: SL 1966, ch 111, ch 31, § 24; SL 1966, ch 31, § 18 as added by SL 1967, ch 137; SL 1998, ch 296, § 14.