This chapter shall 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 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.
HISTORY: 1998 Act No. 433, Section 2, eff upon approval (became law without the Governor's signature on June 11, 1998).
Structure South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
Chapter 41 - Check-cashing Services
Section 34-41-10. Definitions.
Section 34-41-20. Licensure requirements.
Section 34-41-30. Applicability of chapter; exceptions.
Section 34-41-40. Application for licensure.
Section 34-41-42. Requirements for mobile check-cashing services.
Section 34-41-50. Maintenance of minimum liquid assets; issuance of license.
Section 34-41-60. Restrictions and requirements for licensed check-cashing services.
Section 34-41-70. Maintenance of books, accounts, and records; examination.
Section 34-41-80. Limitations on activities by persons required to be licensed by chapter.
Section 34-41-90. Suspension or revocation of license.
Section 34-41-100. Orders to cease and desist violations; hearing.
Section 34-41-110. Civil penalties; repayment of unlawful or excessive fees.
Section 34-41-120. Wilful violations; referral for criminal prosecution.