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243Ratification Number: 121Act Number: 79Introducing Body: SenateSubject: Bonding requirements of oil companies and suppliers
(A79, R121, S243)
AN ACT TO AMEND SECTIONS 12-27-280 AND 12-29-120, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO BONDING REQUIREMENTS OF OIL COMPANIES AND SUPPLIERS IN ORDER TO SECURE TAXES ADMINISTERED BY THE TAX COMMISSION, SO AS TO DELETE THE BONDING REQUIREMENTS; AND TO REPEAL SECTIONS 12-21-790, 12-21-1600, 12-21-2510, AND 12-35-1470, ALL RELATING TO BONDING REQUIREMENTS OF CERTAIN COMPANIES IN ORDER TO SECURE TAXES ADMINISTERED BY THE TAX COMMISSION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-27-280 of the 1976 Code is amended to read:
"Section 12-27-280. Every oil company doing domestic or intrastate business within this State and engaged in the business of selling, consigning, using, and shipping or distributing for the purpose of sale within this State any gasoline, substitute for the gasoline, or combination thereof and liable for the payment of a license tax under the provisions of this article shall file an application for a license with the Commission on forms prescribed, prepared, and furnished by the Commission, which shall set forth: The name under which the oil company transacts or intends to transact such business within the State; the place or places where the business is being or will be carried on; if such oil company is a firm, partnership, association, or company, the names and addresses of the persons constituting such firm, partnership, association, or company and if the oil company is a corporation, the names and addresses of the principal officers; and such further information as the Commission may require at the time of the filing of the application."
SECTION 2. Section 12-29-120 of the 1976 Code is amended to read:
"Section 12-29-120. Every supplier shall file with the Commission an application for a supplier's license, in such form as the Commission may prescribe, setting forth the name and address of the supplier and such other information as the Commission may require."
SECTION 3. Sections 12-21-790, 12-21-1600, 12-21-2510, and 12-35-1470 of the 1976 Code are repealed.
SECTION 4. This act shall take effect upon approval by the Governor.