South Carolina Code of Laws
Title 35 - Securities

Section 35-1-204. Denial, suspension, revocation, condition, or limitation of exemptions. - (a) Except with respect to a federal covered security or...

Section 35-1-301. Securities registration requirement. - It is unlawful for a person to offer or sell...

Section 35-1-302. Notice filing. - (a) With respect to a federal covered security, as defined...

Section 35-1-303. Securities registration by coordination. - (a) A security for which a registration statement has been...

Section 35-1-304. Securities registration by qualification. - (a) A security may be registered by qualification under this...

Section 35-1-305. Securities registration filings. - (a) A registration statement may be filed by the issuer,...

Section 35-1-306. Denial, suspension, and revocation of securities registration. - (a) The Securities Commissioner may issue a stop order denying...

Section 35-1-307. Waiver and modification. - The Securities Commissioner may waive or modify, in whole or...

Section 35-1-401. Broker-dealer registration requirement; exemptions. - (a) It is unlawful for a person to transact business...

Section 35-1-402. Agent registration requirement and exemptions. - (a) It is unlawful for an individual to transact business...

Section 35-1-403. Investment adviser registration requirement; exemptions. - (a) It is unlawful for a person to transact business...

Section 35-1-404. Investment advisor representative registration requirement; exemptions. - (a) It is unlawful for an individual to transact business...

Section 35-1-405. Federal covered investment adviser notice filing requirement. - (a) Except with respect to a federal covered investment adviser...

Section 35-1-406. Registration by broker-dealer, agent, investment adviser, and investment adviser representative. - (a) A person shall register as a broker-dealer, agent, investment...

Section 35-1-407. Succession and change in registration of broker-dealer or investment adviser. - (a) A broker-dealer or investment adviser may succeed to the...

Section 35-1-408. Termination of employment or association of agent and investment adviser representative; transfer of employment or association. - (a) If an agent registered under this chapter terminates employment...

Section 35-1-409. Withdrawal of registration of broker-dealer, agent, investment adviser, and investment adviser representative. - Withdrawal of registration by a broker-dealer, agent, investment adviser, or...

Section 35-1-410. Examination and filing fee requirements. - (a) The Securities Commissioner shall establish fees by rule or...

Section 35-1-411. Postregistration requirements. - (a) Subject to Section 15(h) of the Securities Exchange Act...

Section 35-1-412. Denial, revocation, suspension, withdrawal, restriction, condition, or limitation of registration. - (a) If the Securities Commissioner finds that the order is...

Section 35-1-501. General fraud. - It is unlawful for a person, in connection with the...

Section 35-1-502. Prohibited conduct in providing investment advice regarding securities. - (a) It is unlawful for a person that advises others...

Section 35-1-503. Evidentiary burden. - (a) In a civil action or administrative proceeding under this...

Section 35-1-504. Filing of sales and advertising literature. - (a) Except as otherwise provided in subsection (b), a rule...

Section 35-1-505. Misleading filings. - It is unlawful for a person to make or cause...

Section 35-1-506. Misrepresentations concerning registration or exemption. - The filing of an application for registration, a registration statement,...

Section 35-1-507. Qualified immunity. - A broker-dealer, agent, investment adviser, federal covered investment adviser, or...

Section 35-1-508. Criminal penalties. - (a) A person that wilfully violates this chapter, or a...

Section 35-1-509. Civil liability. - (a) Enforcement of civil liability under this section is subject...

Section 35-1-510. Rescission offers. - A purchaser, seller, or recipient of investment advice regarding securities...

Section 35-1-601. Administration. - (a) This chapter shall be administered by the Attorney General...

Section 35-1-602. Investigations and subpoenas. - (a) The Securities Commissioner may: (1) conduct public or private...

Section 35-1-603. Civil enforcement. - (a) If the Securities Commissioner believes that a person has...

Section 35-1-604. Administrative enforcement. - (a) If the Securities Commissioner determines that a person has...

Section 35-1-605. Rules, forms, orders, interpretative opinions, and hearings. - (a) The Securities Commissioner may: (1) issue forms and orders...

Section 35-1-606. Administrative files and opinions. - (a) The Securities Commissioner shall maintain, or designate a person...

Section 35-1-607. Public records; confidentiality. - (a) Except as otherwise provided in subsection (b), records obtained...

Section 35-1-608. Uniformity and cooperation with other agencies. - (a) The Securities Commissioner shall, in its discretion, cooperate, coordinate,...

Section 35-1-609. Judicial review. - A person aggrieved by a final order of the Securities...

Section 35-1-610. Jurisdiction. - (a) Sections 35-1-301, 35-1-302, 35-1-401(a), 35-1-402(a), 35-1-403(a), 35-1-404(a), 35-1-501, 35-1-506,...

Section 35-1-611. Service of process. - (a) A consent to service of process complying with this...

Section 35-1-612. Severability clause. - If any provision of this chapter or its application to...

Section 35-1-701. Application of act to existing proceeding and existing rights and duties. - (a) The predecessor chapter exclusively governs all actions or proceedings...

Section 35-1-702. Fees; portion of recovery in civil and administrative enforcement actions retained by Attorney General. - (a) Every applicant applying for registration as a broker-dealer, broker-dealer...

Section 35-1-703. Effective date. - This act takes effect on January 1, 2006. HISTORY: 2005...

Section 35-1-800. Definitions. - In this article, unless the context otherwise requires: (1) "Agencies"...

Section 35-1-810. Notification of agencies. - If a qualified individual reasonably believes that the financial exploitation...

Section 35-1-820. Immunity from administrative and civil liability arising from a disclosure pursuant to Section 35-1-810. - A qualified individual who, in good faith and exercising reasonable...

Section 35-1-830. Disclosure of financial exploitation to designated third party. - If a qualified individual reasonably believes that the financial exploitation...

Section 35-1-840. Immunity from administrative and civil liability arising from a disclosure pursuant to Section 35-1-830. - A qualified individual who, in good faith and exercising reasonable...

Section 35-1-850. Delay of a disbursement or transaction due to suspected financial exploitation. - (A) A broker-dealer or investment adviser may delay a disbursement...

Section 35-1-860. Immunity from administrative and civil liability arising from a delay pursuant to Section 35-1-850. - A qualified individual who, in good faith and exercising reasonable...

Section 35-1-870. Access to or copies of records relevant to suspected or attempted financial exploitation of an eligible adult to agencies or law enforcement; records not available for public examination. - A broker-dealer or investment adviser shall provide access to or...

Section 35-1-880. No protection for qualified individuals participating in or materially aiding the financial exploitation of an eligible adult. - Nothing in this article is intended to, nor does it...

Chapter 2 - Control Share Acquisitions; Business Combinations

Section 35-2-101. "Control shares" defined. - As used in this article, "control shares" means shares that,...

Section 35-2-102. "Control share acquisition" defined. - (a) As used in this article, "control share acquisition" means...

Section 35-2-103. "Interested shares" defined; "Exchange Act" defined. - (A) As used in this article, "interested shares" means the...

Section 35-2-104. "Issuing public corporation" defined. - (a) As used in this article, "issuing public corporation" means...

Section 35-2-105. Voting rights under Section 35-2-109. - Unless the corporation's articles of incorporation or bylaws provide that...

Section 35-2-106. Acquiring person statement. - Any person who proposes to make or has made a...

Section 35-2-107. Special meeting of shareholders. - (a) If the acquiring person requests at the time of...

Section 35-2-108. Notice of shareholder meeting. - (a) If a special meeting is requested, notice of the...

Section 35-2-109. Voting rights of acquired control shares; resolution. - (a) Control shares acquired in a control share acquisition have...

Section 35-2-110. Redemption of acquired control shares. - (a) If authorized in a corporation's articles of incorporation or...

Section 35-2-111. Dissenters' rights; "fair value" defined. - (a) Unless otherwise provided in a corporation's articles of incorporation...

Section 35-2-201. "Affiliate" defined. - As used in this article, "affiliate" means a person that...

Section 35-2-202. "Announcement date" defined. - As used in this article, "announcement date", when used in...

Section 35-2-203. "Associate" defined. - As used in this article, "associate", when used to indicate...

Section 35-2-204. "Beneficial owner" defined. - As used in this article, "beneficial owner", when used with...

Section 35-2-205. "Business combination" defined. - As used in this article, "business combination", when used in...

Section 35-2-206. "Common stock" defined. - As used in this article, "common stock" means any shares...

Section 35-2-207. "Consummation date" defined. - As used in this article, "consummation date", with respect to...

Section 35-2-208. "Control" defined. - (a) As used in this article, "control", including the terms...

Section 35-2-209. "Exchange Act" defined. - As used in this article, "Exchange Act" means the act...

Section 35-2-210. "Interested shareholder" defined. - (a) As used in this article, "interested shareholder", when used...

Section 35-2-211. "Market value" defined. - As used in this article, "market value", when used in...

Section 35-2-212. "Preferred stock" defined. - As used in this article, "preferred stock" means any class...

Section 35-2-213. "Resident domestic corporation" defined. - (a) As used in this article, "resident domestic corporation" means...

Section 35-2-214. "Share" defined. - As used in this article, "share" means: (1) any share...

Section 35-2-215. "Share acquisition date" defined. - As used in this article, "share acquisition date", with respect...

Section 35-2-216. "Subsidiary" defined. - As used in this article, "subsidiary" of any resident domestic...

Section 35-2-217. "Voting shares" defined. - As used in this article, "voting shares" means shares of...

Section 35-2-218. Business combination with interested shareholder within two years of share acquisition date. - (a) Notwithstanding any other provision of law, except Sections 35-2-220...

Section 35-2-219. Business combination with interested shareholder; requirements. - Notwithstanding any other provision of law, except Sections 35-2-218 and...

Section 35-2-220. Amendment of articles of incorporation making corporation subject to this article; application of article. - This article does not apply to any business combination of...

Section 35-2-221. Election not to be covered by this article; application of article. - This article does not apply to any business combination of...

Section 35-2-222. Inadvertent interested shareholder; application of article. - This article does not apply to any business combination of...

Section 35-2-223. Interested shareholder on the effective date of this chapter; application of article. - This article does not apply to any business combination with...

Section 35-2-224. Applicability to foreign corporations. - (a) The provisions of this article also apply to a...

Section 35-2-225. Severability. - If any section, subsection, item, paragraph, subparagraph, sentence, clause, or...

Section 35-2-226. Conflict of laws with respect to foreign corporations. - If the laws of the State under which a foreign...

Chapter 5 - Nominee Registration Of Securities Held By Corporate Fiduciaries

Section 35-5-10. Bank and trust company fiduciaries may register and hold securities for nominees. - Any bank or trust company incorporated under the laws of...

Section 35-5-20. Registration on request of principal or unincorporated fiduciary. - Any bank or trust company incorporated under the laws of...

Section 35-5-30. Corporations, registrars, or transfer agents shall not be liable for registrations and transfers authorized by nominees. - No domestic or foreign corporation or the registrar or transfer...

Section 35-5-40. Prohibition of registration by instrument creating fiduciary relationship. - The provisions of this chapter shall apply to any bank,...

Chapter 6 - Uniform Transfer On Death Security Registration Act

Section 35-6-10. Short title; definitions. - (A) This chapter may be cited as the Uniform Transfer...

Section 35-6-20. Individuals eligible to obtain registration in beneficiary form; multiple owners of security. - Only individuals whose registration of a security shows sole ownership...

Section 35-6-30. Security allowed to be registered in beneficiary form when form authorized by certain laws; presumption of validity. - A security may be registered in beneficiary form, if the...

Section 35-6-40. Designation of beneficiary to take ownership upon death of owner or owners to be included for security to be registered in beneficiary form. - A security, whether evidenced by a certificate or account, is...

Section 35-6-50. Certain words signify registration in beneficiary form. - Registration in beneficiary form may be shown by the words,...

Section 35-6-60. Ownership not affected until owner's death; cancellation or change. - The designation of a transfer on death beneficiary on a...

Section 35-6-70. Death of sole owner or last of multiple owners; passing of ownership; reregistration; lack of surviving beneficiary. - On death of a sole owner or the last to...

Section 35-6-80. Registering entities; duties and protections. - (A) A registering entity is not required to offer or...

Section 35-6-90. Effectiveness of transfer on death by reason of contract; effect of chapter on rights of creditors of security owners against beneficiaries and transferees. - (A) A transfer on death resulting from a registration in...

Section 35-6-100. Registering entities; establishment of terms and conditions under which they will receive requests. - A registering entity offering to accept registrations in beneficiary form...

Chapter 11 - South Carolina Anti-money Laundering Act

Section 35-11-100. Short title. - This chapter may be cited as the "South Carolina Anti-Money...

Section 35-11-105. Definitions. - As used in this chapter: (1) "Applicant" means a person...

Section 35-11-110. Applicability of chapter. - This chapter does not apply to: (1) the United States...

Section 35-11-200. License required. - (A) A person may not engage in the business of...

Section 35-11-205. Application for license. - (A) In this section, "material litigation" means litigation that according...

Section 35-11-210. Approval to engage in money transmission when licensed in another state. - (A) A person who is licensed to engage in money...

Section 35-11-215. Security. - (A) Except as otherwise provided in subsection (B), a surety...

Section 35-11-220. Issuance of license. - (A) When an application is filed pursuant to this article,...

Section 35-11-225. Renewal of license. - (A) A person licensed pursuant to this article shall pay...

Section 35-11-230. Net worth. - A person licensed pursuant to this article shall maintain a...

Section 35-11-300. License required. - (A) A person may not engage in currency exchange or...

Section 35-11-305. Application for license. - (A) A person applying for a license pursuant to this...

Section 35-11-310. Issuance of license. - (A) When a person applies for a license pursuant to...

Section 35-11-315. Renewal of license. - (A) A person licensed pursuant to this article shall pay...

Section 35-11-400. Relationship between licensee and authorized delegate. - (A) In this section, "remit" means to make direct payments...

Section 35-11-405. Unauthorized activities. - A person may not provide money services on behalf of...

Section 35-11-500. Authority to conduct examinations. - (A) The commissioner may conduct an annual examination of a...

Section 35-11-505. Cooperation. - The commissioner may consult and cooperate with other state money...

Section 35-11-510. Reports. - (A) A licensee shall file with the commissioner within fifteen...

Section 35-11-515. Change of control. - (A) A licensee shall: (1) give the commissioner notice in...

Section 35-11-520. Records. - (A) A licensee shall maintain the following records for determining...

Section 35-11-525. Money laundering reports. - (A) A licensee and an authorized delegate shall file with...

Section 35-11-530. Confidentiality. - (A) Unless otherwise specified in this section, all information filed...

Section 35-11-600. Maintenance of permissible investments. - (A) A licensee shall maintain at all times permissible investments...

Section 35-11-605. Types of permissible investments. - (A) Except to the extent otherwise limited by the commissioner...

Section 35-11-700. Suspension and revocation. - (A) The commissioner may suspend or revoke a license or...

Section 35-11-705. Suspension and revocation of authorized delegates. - (A) The commissioner may issue an order suspending or revoking...

Section 35-11-710. Orders to cease and desist. - (A) If the commissioner determines that a violation of this...

Section 35-11-715. Consent orders. - The commissioner may enter into a consent order at any...

Section 35-11-720. Civil penalties. - The commissioner may assess a civil penalty against a person...

Section 35-11-725. Criminal penalties. - (A) A person who intentionally makes a false statement, misrepresentation,...

Section 35-11-730. Unlicensed persons. - (A) If the commissioner has reason to believe that a...

Section 35-11-735. Appointment of receiver for licensee. - (A) Whenever a licensee has refused or is unable to...

Section 35-11-740. Additional criminal penalties; definitions. - (A)(1) A person who, knowing that the property involved in...

Section 35-11-800. Administrative proceedings. - All administrative proceedings pursuant to this chapter must be conducted...

Section 35-11-805. Hearings. - Except as otherwise provided in Sections 35-11-225(C), 35-11-315(C), 35-11-710, and...

Section 35-11-810. Administration by commissioner. - This chapter is administered by the commissioner who may employ...

Section 35-11-815. Regulations. - The commissioner may promulgate and amend regulations or issue orders...

Section 35-11-900. Uniformity of application and construction. - In applying and construing this Uniform Act, consideration must be...

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South Carolina Code of Laws Title 35 - Securities

South Carolina Code of Laws
Title 35 - Securities