South Carolina General Assembly
125th Session, 2023-2024
Download This Bill in Microsoft Word Format
Indicates Matter Stricken
Indicates New Matter
S. 710
STATUS INFORMATION
Joint Resolution
Sponsors: Banking and Insurance Committee
Document Path: LC-0302WAB-RT23.docx
Introduced in the Senate on April 11, 2023
Currently residing in the Senate Committee on Banking and Insurance
HISTORY OF LEGISLATIVE ACTIONS
| Date | Body | Action Description with journal page number |
|---|---|---|
| 4/11/2023 | Senate | Introduced, read first time, placed on calendar without reference (Senate Journal-page 7) |
| 1/10/2024 | Senate | Recommitted to Committee on Banking and Insurance (Senate Journal-page 13) |
View the latest legislative information at the website
VERSIONS OF THIS BILL
Introduced
April 11, 2023
S. 710
Introduced by Banking and Insurance Committee
S. Printed 04/11/23--S.
Read the first time April 11, 2023
________
A JOINT RESOLUTION
TO APPROVE REGULATIONS OF THE STATE Board of Financial Institutions - Consumer Finance Division, RELATING TO Check-Cashing Service: Purchase of Goods or Services, DESIGNATED AS REGULATION DOCUMENT NUMBER 5141, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE SOUTH CAROLINA CODE OF LAWS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The regulations of the State Board of Financial Institutions - Consumer Finance Division, relating to Check-Cashing Service: Purchase of Goods or Services, designated as Regulation Document Number 5141, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the S.C. Code, are approved.
SECTION 2. This joint resolution takes effect upon approval by the Governor.
----XXX----
SUMMARY AS SUBMITTED
BY PROMULGATING AGENCY.
The State Board of Financial Institutions (Board) seeks to add R.15-68 to state the Board's interpretation that "other consideration" in Sections 34-41-10 and 34-41-30 includes the mandatory purchase of goods or services, to clarify that a person accepting such other consideration to cash a check is required to have a check-cashing license in this State, and to require a person who accepts other consideration only in the form of a mandatory purchase of goods or services must notify the Consumer Finance Division of this activity by filing affidavits in NMLS.
The Notice of Drafting was published in the State Register on August 26, 2022.
----XX----
This web page was last updated on January 11, 2024 at 5:15 PM