South Carolina General Assembly
117th Session, 2007-2008

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H. 5022

STATUS INFORMATION

General Bill
Sponsors: Rep. Govan
Document Path: l:\council\bills\bbm\10523ab08.doc

Introduced in the House on April 15, 2008
Currently residing in the House Committee on Labor, Commerce and Industry

Summary: Checks

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
   4/15/2008  House   Introduced and read first time HJ-53
   4/15/2008  House   Referred to Committee on Labor, Commerce and Industry 
                        HJ-53

View the latest legislative information at the LPITS web site

VERSIONS OF THIS BILL

4/15/2008

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 34-39-180, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO RESTRICTIONS AND REQUIREMENTS FOR DEFERRED PRESENTMENT OR DEPOSIT OF CHECK, SO AS TO PROVIDE A CHECK ACCEPTED FOR DEFERRED PRESENTMENT OR DEPOSIT PURSUANT TO THIS CHAPTER MAY NOT BE REPAID BY MEANS OF ELECTRONIC TRANSFER OF FUNDS FROM AN ACCOUNT OF THE CUSTOMER.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 34-39-180(F) of the 1976 Code, as added by Act 433 of 1998, is amended to read:

"(F)(1) A check accepted for deferred presentment or deposit pursuant to this chapter may not be repaid from the proceeds of another check accepted for deferred presentment or deposit by the same licensee or an affiliate of the licensee. A licensee shall not renew or otherwise extend presentment of a check or withhold the check from deposit, for old or new consideration, for a period beyond the time set forth in the written agreement with the customer.

(2)    A check accepted for deferred presentment or deposit pursuant to this chapter may not be repaid by means of electronic transfer of funds from an account of the customer."

SECTION    2.    This act takes effect upon approval by the Governor.

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