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TO AMEND SECTION 34-41-30, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE APPLICABILITY OF LICENSURE REQUIREMENTS FOR A CHECK-CASHING SERVICE, SO AS TO EXEMPT A PERSON WHO, INCIDENTALLY TO OR INDEPENDENTLY OF THE OPERATION OF A BONA FIDE RETAIL BUSINESS, FROM TIME TO TIME CASHES A CHECK, DRAFT, OR MONEY ORDER, SO AS TO PROVIDE THAT THE FEE CHARGED MUST NOT EXCEED THE STATUTORY FEE SCHEDULE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 34-41-30 of the 1976 Code, as added by Act 433 of 1998, is amended to read:
"Section 34-41-30. This chapter shall does not apply to:
(1) a bank, savings institution, credit union, or farm credit system organized under the laws of the United States or any state; and
(2) any a person or entity principally engaged in the bona fide retail sale of goods or services, who, either as an incident to or independently of a retail sale or service and not holding itself out to be a Level I or Level II check-cashing service, from time to time cashes checks, drafts, or money orders without a fee or other consideration except that the person or entity may not charge fees in excess of those authorized by this chapter."
SECTION 2. This act takes effect upon approval by the Governor.
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