When any such policy of insurance or bond lapses by cancellation or for any other reason or when notice of intention to cause a lapse has been given by the surety or bondsman and such notice has been recorded on the records of the county police department, such notice shall be withdrawn and such policy of insurance or bond shall be reinstated only after payment to the governing body of the county the sum of three dollars for entries and change of records.
S.C. Code § 58-23-1400