South Carolina—Warehouseman's bond. PLEASE READ INSTRUCTIONS ON BACK BOND NO. _________
STATE OF SOUTH CAROLINA DEPARTMENT OF AGRICULTURE WAREHOUSE DIVISION WAREHOUSEMAN'S BOND For Storage of Agricultural Commodities KNOW ALL MEN BY THESE PRESENTS: That we _________(Name of Warehouse) _________ of _________, as principal and _________(Name of Surety Company) of _________(Home office address), as Surety, are held and firmly bound unto THE COMMISSIONER OF AGRICULTURE FOR THE STATE OF SOUTH CAROLINA, and his successors in office, for the use and benefit of every person establishing legal rights hereunder, in the full and just sum of TWENTY FIVE THOUSAND AND No/100 DOLLARS, ($25,000), for the payment of which well and truly to be made, we hereby bind ourselves, our heirs, administrators, executors, successors and assigns, firmly by these presents. Whereas, by South Carolina Code Section 39-22-20 (1990), warehousemen storing agricultural commodities in the State Warehouse System are required to obtain a license from the Commissioner of Agriculture for the State of South Carolina and to give bond in such form and amount and conditioned upon full compliance with the provisions of Section 39-22-10, et seq., and any rules and regulations promulgated thereunder or amendments thereto. Now, therefore, the condition of this obligation is such that if the above-named principal shall faithfully and truly perform and fulfill all duties as required by the State Warehouse System, then this obligation shall be null and void; otherwise, it shall remain in full force and effect. This bond shall be effective from the _________ day of _________, _________, and shall continue in effect until terminated by mutual agreement or cancelled as herein provided. The aggregate accumulated liability under this bond shall in no event exceed the penal sum named herein, for any and all claims which may accrue during the term hereof. The surety may withdraw from this bond by giving 90 days written notice by registered mail to the Commissioner of Agriculture, provided such withdrawal shall not release said surety from any liability existing hereunder at the time of the effective date of said withdrawal. Signed, sealed and dated this _________ day of _________, _________ In the presence of: _________Witness to the Principal _________Witness to the Surety _________Principal (Name of Warehouse) (Seal) By: _________ _________Surety (Seal) By: _________
Countersigned by South Carolina Agent: _________ Signature: _________ Address: _________, South Carolina (A copy of the Power-of-Attorney for the person executing this bond for the surety must be attached.)(This bond must be countersigned by a South Carolina agent of the surety.) (When completed, this bond should be mailed to S. C. Department of Agriculture, P. O. Box 11280, Columbia, S. C. 29211.) INFORMATION FOR THE PREPARATION AND EXECUTION OF THIS SURETY BOND A. The name of principal of the bond must be correctly stated. It must agree with the name in which the applicant for license will conduct business. The name in which business is conducted should follow the name or names of the principal where the applicant does business in a fictitious name. Examples: Individual operating in own name: "John Doe" Individual owner operating in another name: "Richard Roe d/b/a "Farmer's Warehouse" Partners operating in another name: "John Doe, Richard Roe, and Mary Doe d/b/a Acme Warehouse" Corporation operating in own name: "ABC Bonded Warehouse (a corporation)" Corporation operating in another name: "John Doe Enterprises, Inc. d/b/a Superior Storage" B. Execution by Principal If the principal of this bond is: 1. 2. An individual: A partnership: this bond must be signed by the principal. this bond must be executed in the name of the partnership and signed by the partners. this bond must be executed in the name of the corporation, by its President or Vice President, with impression of corporate seal affixed.
3.
A corporation:
C. Execution by Surety 1. Must be a properly authorized person whose title should be shown with impression of corporate seal of the surety affixed. 2. Copy of the Power of Attorney of that person must be attached to the bond. D. Countersigning of the bond should consist of the typed name, signature, and mailing address of a licensed agent of the surety who is registered with the South Carolina Insurance Commissioner.