South Carolina § 35-11-525 Money laundering reports.

South Carolina Statutes

§ 35-11-525 — Money laundering reports.

South Carolina § 35-11-525

Title 35SECURITIES

Ch. 11SOUTH CAROLINA UNIFORM MONEY SERVICES ACT

This text of South Carolina § 35-11-525 (Money laundering reports.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 35-11-525 (2026).

Text

(A)A licensee and an authorized delegate shall file with the Commissioner all reports required by federal currency reporting, recordkeeping, and suspicious transaction reporting requirements as set forth in the Bank Secrecy Act and other federal and state laws pertaining to money laundering.

(B)The timely filing of a complete and accurate report required pursuant to subsection (A) with the appropriate federal agency is in compliance with the requirements of subsection (A), unless the Commissioner notifies the licensee that reports of this type are not being regularly and comprehensively transmitted by the federal agency to the Commissioner.

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(A) A licensee and an authorized delegate shall file with the Commissioner all reports required by federal currency reporting, recordkeeping, and suspicious transaction reporting requirements as set forth in the Bank Secrecy Act and other federal and state laws pertaining to money laundering. (B) The timely filing of a complete and accurate report required pursuant to subsection (A) with the appropriate federal agency is in compliance with the requirements of subsection (A), unless the Commissioner notifies the licensee that reports of this type are not being regularly and comprehensively transmitted by the federal agency to the Commissioner.

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), substituted "the Bank Secrecy Act" for "31 U.S.C. Section 5311 (1994), 31 C.F.R. Section 103 (2000)"; and made nonsubstantive changes throughout.