S.C. Code Regs. 44-90.40 - Bonds
A. The Executive Director may require a bond, securities, or an irrevocable letter of credit from a lottery retailer in an amount determined by the Executive Director consistent with the financial stability of the retailer, to avoid monetary loss to the state because of the activities of a lottery retailer. The bond must be on an approved form through a company authorized to do business in this state and approved by the Executive Director. If securities are deposited or an irrevocable letter of credit filed, the securities or letter of credit must be of a type or in a form approved by the Executive Director.
Notes
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