South Carolina Statutes
§ 35-11-300 — License required.
(A)A person may not engage in currency exchange or advertise, solicit, or hold himself out as providing currency exchange for which the person receives revenues equal or greater than five percent of total revenues unless the person is:
(1)licensed pursuant to this article;
(2)licensed for money transmission pursuant to Article 2; or (3) an authorized delegate of a person licensed pursuant to Article 2.
(B)A license issued pursuant to this chapter is not transferable or assignable.
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Legislative History
HISTORY: 2016 Act No. 266 (H.4554), SECTION 1, eff May 25, 2018; 2024 Act No. 218 (S.1031), SECTION 1, eff July 2, 2024. Effect of Amendment 2024 Act No. 218, SECTION 1, in (A), in (1), substituted "article" for "chapter", in (2), substituted "2; or" for "2, or approved to engage in money transmission pursuant to Section 35-11-210;", deleted (4), which provided that an authorized delegate of a person approved to engage in money transmission pursuant to Section 35-11-210, and made a nonsubstantive change.
Nearby Sections
15
§ 35-11-100
Short title.§ 35-11-105
Definitions.§ 35-11-110
Applicability of chapter.§ 35-11-200
License required.§ 35-11-205
Application for license.§ 35-11-210
Items to be furnished to the Commissioner.§ 35-11-215
Security.§ 35-11-220
Issuance of license.§ 35-11-225
Renewal of license.§ 35-11-230
Net worth.§ 35-11-235
Suspension or revocation of license.§ 35-11-300
License required.§ 35-11-305
Application for license.§ 35-11-310
Issuance of license.§ 35-11-315
Renewal of license.