What is the bond amount required for Dealers?

The required bond amount for dealers in South Carolina is $30,000. This bond serves as a financial assurance mechanism that protects consumers by ensuring that the dealer adheres to regulations governing the sale of manufactured homes. The bond can also provide remedies for consumers in the event that the dealer fails to meet legal obligations or engages in fraudulent activities.

Understanding this requirement is crucial for dealers, as it establishes the financial responsibility they must fulfill in order to operate legally in the manufactured housing industry. This bond amount reflects the state's effort to maintain consumer protection standards and to hold dealers accountable in their business practices.