Education


WE UNDERSTAND THE IMPORTANCE OF CONTINUING EDUCATION.

South Carolina Bail Agent Association - Continuing Education May 9th, 2012
 
On April 24th, 2012 I attended the South Carolina Bail Agent Association Continuing Education class.  Amongst others, Willie Seawright from the South Carolina Department of Insurance was a guest speaker.  Mr. Seawright spoke about the new requirements which will be implemented for any bail agent audits they perform as of April 2012.  The bail agent audits will be conducted based on the following codes and will be open to inspection by the Department of Insurance: Section 38-43-250: Producer Records, Section 35-53-320: Examination by professional and surety bondsman and Section 35-53-480: Receipt of Collateral required.
 
A checklist of the items they will be reviewing is below:
• Bail Application
• Indemnity Agreement
• Power of Attorney
• Receipt and Statement of Charges
• Receipt for Collateral
• Agent Bail Report
• Collateral Ledger
• Bail Agent Exonerations and Discharges

Other topics that were discussed include information on the Statute of Limitations Bill that was passed relating to Appearance Bonds and the IRS Form 8300 which was added to the SCBAA website.  The IRS form is to be used by bail agents to report cash receivables in excess of $10k.  Bail USA has also added the South Carolina form entitled "Request to Convert Appearance Bond to Personal Recognizance Bond" to our Forms section of the website. 

You may review all of this information on the South Carolina Bail Agent Association website for more details by going to www.scbaa.org
 
Thank you,
Karyn Herrmann
Vice President of Bail Agent Relations