A JOINT RESOLUTION

 

TO APPROVE REGULATIONS OF THE State Board of Financial Institutions - Consumer Finance Division, RELATING TO Check-Cashing Service: Record-Keeping Requirements, DESIGNATED AS REGULATION DOCUMENT NUMBER 5142, 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: Record-Keeping Requirements, designated as Regulation Document Number 5142, 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.15-67 to establish by regulation the records that a person required to be licensed under Chapter 41 must keep and maintain and the corresponding records retention period.

 

The Notice of Drafting was published in the State Register on August 26, 2022.

----XX----