(A) Each person required to be licensed pursuant to this chapter shall maintain in its offices such books, accounts, and records as the board reasonably may require. The books, accounts, and records must be maintained separate from any other business in which the person is engaged and must be retained for a period prescribed by the board.
(B) The licensee shall ensure that each customer cashing a check is provided a receipt showing the name or trade name of the licensee, the transaction date, amount of the check, and the fee charged.
(C) The board may examine the books, accounts, and records in order to determine whether the person is complying with this chapter and rules adopted pursuant to it. The cost of the examination must be paid by the licensee and must be determined by the board.
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.