Before issuance of an open-end permit, the permittee shall file with the Department of Transportation a:
(1) bond in the amount of five hundred dollars or a greater amount the applicant determines at all times equals or exceeds the net value of all open-end permits issued to the applicant by the Department of Transportation for which payment is not received at the time of issuance, payable to the department by a surety or guaranty company authorized to do business in this State and approved by the department as surety conditional upon the lawful movement of an oversize mobile home, modular home unit, or utility building over a highway in this State and the payment to the department of amounts when due for fees provided for in Sections 56-3-710 and 57-3-180 and the compliance with all of the terms, conditions, and restrictions of an oversize permit of any sort issued to the person filing bond; or
(2) deposit of cash or acceptable negotiable securities sufficient in the opinion of the Department of Transportation to secure adequately the sum of five hundred dollars or a greater amount the applicant may determine at all times equals or exceeds the net value of all open-end permits to be issued to the applicant by the Department of Transportation for which payment is not received at the time of issuance. The deposit must be made upon the same conditions as those required to be set forth in the bond provided for in item (1).
HISTORY: 1994 Act No. 497, Part II, Section 85A.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.